Privacy coins go mainstream: Zcash lands in Paris and Amsterdam, ZCSH already chilling in NYC 🧅

European asset manager 21shares has launched the region's first exchange-traded product tied to Zcash, bringing the privacy coin into a regulated European venue days after the United States cleared its own Zcash fund. On Tuesday, 21shares listed its physically backed Zcash ETP on Euronext Paris and Euronext Amsterdam, giving brokerage-account investors exposure to ZEC without directly holding the cryptocurrency. The launch follows the debut of the Grayscale Zcash ETF in the United States, which trades on NYSE Arca under the ticker ZCSH, and reflects growing institutional demand for regulated privacy-coin products on both sides of the Atlantic.

Alongside the Zcash ETP, 21shares introduced a physically backed product tracking ETHFI, the governance and utility token of the Ether.fi decentralized finance protocol, which offers staking and other crypto-based financial services. The ETHFI ETP also lists on Euronext Paris and Euronext Amsterdam. Both products carry an annual management fee of 2.5%, a level well above what many Bitcoin ($BTC) and Ether ($ETH) investment products in Europe charge.

Zcash entered the listings after a multi-year run that has made it one of crypto's standout performers. The token recently pushed past $1,500, a gain of nearly 1,100% over the past year, according to CoinMarketCap data. Grayscale head of research Zach Pandl has argued that Zcash could benefit from "second-mover advantages" that may help it overcome $BTC's entrenched network effects, something earlier alternatives such as Litecoin (LTC) have struggled to achieve.

Institutional attention has also reached the mining side of the network. Fortitude Digital Mining told Cointelegraph that it produced roughly 28% of all ZEC mined in the first half of 2026, attributing its focus to Zcash's proof-of-work model, capped supply and privacy features. The company joins a broader push for privacy-coin infrastructure in regulated markets following years of delistings at major retail exchanges.