21Shares has introduced a European exchange-traded product that gives brokerage customers exposure to Zcash. The physically backed product uses the ticker ZCASH and holds the underlying cryptocurrency through its custody arrangements. It launched on Euronext Amsterdam and Euronext Paris with an annual fee of 2.50 percent. Investors buy a security through a participating broker rather than transferring Zcash to their own wallet.

Zcash has a fixed maximum supply of 21 million coins and offers optional privacy through shielded transactions. That feature distinguishes it from transparent blockchain transfers, where transaction details are visible publicly. The new product gives conventional securities accounts a way to follow the asset's price, but owning the ETP is different from controlling Zcash directly or choosing how to use its privacy features onchain.

21Shares lists several possible custodians for the underlying holdings, including Coinbase Custody, Zodia Custody, Anchorage Digital and BitGo entities. The physically backed structure means the issuer holds Zcash against the product. The annual charge is applied at the product level, while a broker may impose separate trading costs. Those mechanics can make the ETP familiar to securities investors even though its underlying asset is a cryptocurrency.

The listing adds a token-specific investment vehicle to Europe's growing menu of crypto products. Its success depends on investor demand, access through brokerage platforms and the product's ability to track the asset after fees and trading costs. The launch does not change Zcash's network or its optional privacy design; it changes how eligible investors can obtain price exposure through a standard investment account.