Within two weeks, ZEC secured two tickets into traditional finance.
August 25: Grayscale’s ZCSH began trading on the NYSE Arca in New York—America’s first ZEC spot ETF.
September 22: 21Shares’ physical ZEC ETP listed on Europe’s Euronext Paris and Amsterdam—Europe’s first.
Regulated packaging is complete.
Both products are physically held, not synthetic—issuers are truly buying ZEC to put in, not simulating prices with derivatives.
A year ago, ZEC was at $42. Over the past 12 months, it has risen about 1,100%, reaching above $1,500 at its peak.
Here’s a number worth paying attention to: this ZEC surge isn’t just an ETF story—the ZEC mining supply is shrinking. This year, Fortitude Digital Mining alone will mine 28% of the total ZEC production for 2026—supply consolidation plus the ETF opening up the demand side are the two supports behind this price.
A 2.5% annual fee isn’t cheap—Europe’s BTC and ETH ETPs are typically 0.3%-0.65%. This indicates ZEC’s liquidity premium is still there, and institutions entering the market need to pay more.
But they still got on.
Now the compliant products for ZEC are available in both the U.S. and Europe. The next pool of capital won’t need to open an exchange account to manage private keys anymore.
Where do you think ZEC’s next price target is?
$ZEC
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