Europe opens new ETP channel, Zcash why jump to $1600

21Shares announced on September 22 that its physical-backed Zcash exchange traded product (ETP) had been listed at the Pan European Exchange in Paris and Amsterdam, with the code Zcash , opening a channel for European investors to access ZEC through their ordinary brokerage accounts. However, this round of price increases began much earlier than expected - around $1,540 was reported on September 19 - related to market concerns about United States Zcash Bitcoin ETF owned by Grayscale.

Product details: 2.5% fee, physical support

The product has an ISIN of CH1608218801 and is listed in Paris priced in euros, while it's listed in Amsterdam in dollars. 21Shares said in its online announcement that this was the first Zcash ETP available to European investors.

Unlike direct buy coins, investors hold listed products in the underlying ZEC held by an issuer's custody structure without having to purchase and store them on their own or transfer between personal wallets. It is worth noting that the creation date shown on the product page is September 21, which is not the same day as the listing announcement of September 22.

on-chain data reaches multi-year high

Messari data shows that Zcash last week sent more than $23 billion to on-chain , the highest weekly level since 2021 and second-highest in history. However, this figure is measured by the value of transfers within the network and does not equate to new money flows into ZEC or new ETPs.

Another X user Zodl statistic, last week's shielded transactions reached 62,379, the highest weekly reading since 2022. The details of shielding transactions can be hidden from public view. on-chain Originally visible, but this figure is calculated as a number of transactions rather than independent users and subsequent weekly data will verify whether activity can continue or not.

What to Watch Next

On September 23, ZEC hit a 24-hour high of $1,651 and then fell back to around $1,487. For European investors, changes in the size of Zcash 's product assets will become an independent indicator for observing actual adoption by European brokerage channels.

Warning signsThis article is for general information only and does not constitute any investment advice.