21shares lists Zcash and ether.fi ETPs on Euronext Amsterdam and Paris
By Crypto Wire
September 22, 2026
21shares listed two new physically backed crypto exchange-traded products on Euronext Amsterdam and Euronext Paris on September 22, putting Zcash (ZEC) and ether.fi’s ETHFI token onto regulated European brokerage rails. The 21shares Zcash ETP trades under ticker ZCASH with ISIN CH1608218801, while the 21shares ether.fi ETP trades under ticker ETHFI with ISIN CH1608218819. Both products carry a 2.50% annual fee, and Amsterdam listings trade in USD while Paris listings trade in EUR, according to product coverage of the launch.
Cointelegraph reported that the Zcash listing is Europe’s first ETP tied to the privacy coin, arriving after the Grayscale Zcash ETF began trading in the United States on NYSE Arca under ticker ZCSH. That sequencing matters for NFT and on-chain privacy desks that have spent the past month tracking Zcash-linked collectible auctions and zero-knowledge narratives: a listed European wrapper sits beside a U.S. ETF path and gives brokerage accounts a way to hold ZEC exposure without custodying the coin directly.
Both ETPs are physically backed, meaning they hold the underlying tokens rather than synthetically tracking price through derivatives. 21shares said the cryptoassets sit with established third-party custodians, a structure designed to remove the need for investors to open exchange accounts, manage private keys, or handle personal wallet custody. That custody claim is the issuer’s product design and should be read against each fund’s prospectus rather than as a guarantee of market performance.
The Zcash product lands while privacy rails are already in the NFT conversation. Zcash supports shielded transactions that can hide sender, recipient, and amount while still verifying transfers with zero-knowledge proofs—the same cryptographic family that powered recent Zcash-denominated NFT auction experiments covered on this desk. A regulated ETP does not mint those collectibles, but it does widen the institutional bid stack around ZEC itself, which can move collateral, mining economics, and secondary attention that spills into Zcash-adjacent NFT flows.
Cointelegraph cited CoinMarketCap data showing Zcash recently trading above $1,500 after a roughly 1,100% gain over the past year, a rally that put Bitcoin-comparison research back into circulation. Grayscale head of research Zach Pandl has argued Zcash could benefit from second-mover advantages versus Bitcoin’s network effects—an issuer research view, not a settled market outcome. Separately, Fortitude Digital Mining told Cointelegraph it mined about 28% of all ZEC produced in the first half of 2026, underscoring how mining capacity has concentrated around the privacy coin’s proof-of-work design and capped supply narrative.
The companion ETHFI ETP tracks ether.fi’s governance and utility token, giving European brokerage channels exchange-traded access to a DeFi protocol token that began in liquid restaking and has expanded into broader on-chain financial services. 21shares’ own marketing around the listing highlighted growth claims for ether.fi’s crypto-debit card business; those card-share figures originate from issuer promotion and were not independently verified in secondary coverage, so desks should treat them as company framing rather than audited tape.
Fee math is blunt. At 2.50% per year, both products price well above many European Bitcoin and Ether ETPs, reflecting the thinner, more specialized underlying markets. Investors who already hold ZEC or ETHFI in wallets will not need the wrappers for on-chain use, but the listings still matter for NFT-market readers because they mark another step in packaging mid-cap crypto themes—privacy and restaking governance—into the same Euronext venues that already host larger digital-asset products.
21shares framed the dual launch as an expansion beyond major cryptocurrencies into projects it describes as building useful technology, with both products available starting September 22 across European brokerage platforms. The firm did not disclose opening-day creations, assets under management, or first-session volumes in the materials summarized by secondary desks. Until those figures print, the concrete facts remain the tickers, ISINs, venues, physical backing claim, dual currency listings, and the 2.50% fee schedule.
For this desk, the usable takeaway is calendar and product structure: Europe now has a listed Zcash ETP beside a U.S. Zcash ETF, while ETHFI joins the same Euronext pair as a DeFi-token wrapper. That is a marketplace and settlement story about how privacy-coin and restaking exposure moves through brokerage accounts—not a forecast that ZEC NFT floors or ether.fi activity will reprice overnight. Primary product identifiers and venue details are drawn from September 22 coverage of the 21shares launch on Euronext Amsterdam and Paris.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).
