New European Crypto ETPs
21Shares Expands European Crypto Access With New Zcash and Ether.fi ETPs
Anonymous
Key Points
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The products trade in euros on Euronext Paris and in U.S. dollars on Euronext Amsterdam; their ISINs are CH1608218801 for ZCASH and CH1608218819 for ETHFI.
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21Shares’ 2.5% annual fee is substantially higher than the issuer’s other major products: its Ethereum Staking ETP charges 1.49%, while its Core Bitcoin and Core Ethereum products carry a 0.10% fee under a waiver through June 2027.
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The ether.fi protocol has billions of dollars in assets deposited and has broadened its services beyond restaking to include staking, lending, swaps, payments and spending products.
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Jasmin Muelhaupt, 21Shares’ director of financial product development, said European investors want access to projects “that are actually building useful technology,” highlighting ether.fi’s cards and borrowing services and Zcash’s combination of capped supply, optional privacy and future-proof cryptography.
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The launch positions Zcash within an expanding market of exchange-traded investment vehicles in both Europe and the United States, while ETHFI represents a test of investor demand for listed exposure to an individual decentralized-finance protocol.
21Shares launched two new cryptocurrency exchange-traded products on Euronext Paris and Amsterdam on September 22, giving European investors direct access to Zcash and ether.fi through standard brokerage accounts. Decrypt reported that the products hold the underlying cryptoassets with third-party custodians, eliminating the need for investors to manage private keys or open exchange accounts themselves.
The Zcash ETP trades under ticker ZCASH (ISIN CH1608218801) while the ether.fi product uses ticker ETHFI (ISIN CH1608218819). Finance Feeds noted both products charge a 2.5% annual fee, substantially higher than 21Shares' flagship products but reflecting the convenience of listed access to these narrower crypto assets.
Zcash Enters European Investment Markets
Zcash, a privacy-focused coin that allows users to shield account balances and transfers, has attracted growing interest from traditional investors. Yahoo Finance confirmed the Zcash ETP trades in euros on Euronext Paris and in U.S. dollars on Euronext Amsterdam. The product emphasizes Zcash's 21 million coin supply cap and post-quantum security features designed to resist future cryptographic attacks.
This listing marks a significant milestone for the privacy coin sector in Europe. Cryptopolitan reported the listing came as ZEC topped $1,600 per coin, signaling both market momentum and institutional appetite for privacy-focused digital assets through regulated trading channels.
Ether.fi Expands Beyond Liquid Restaking
The ether.fi ETP launch tests investor demand for exposure to an individual decentralized-finance protocol. Ether.fi began as a liquid restaking platform but has broadened into staking, borrowing, payments, and spending services. The protocol now manages billions of dollars in deposited assets, making it a significant player in Ethereum's expanding financial ecosystem.
According to 21Shares director Jasmin Muelhaupt, European investors seek access to projects "that are actually building useful technology." He highlighted ether.fi's debit cards and borrowing services as examples of practical applications that differentiate the protocol from pure speculative assets.
Fee Structure Reflects Product Positioning
The 2.5% annual fee places both new ETPs at the higher end of 21Shares' pricing. By comparison, the issuer's Ethereum Staking ETP charges 1.49% annually, while its Core Bitcoin and Core Ethereum products carry just 0.10% under a waiver lasting through June 2027. The premium reflects the complexity and niche nature of Zcash and ether.fi exposure.
This pricing strategy signals that 21Shares views these products as specialized offerings rather than core holdings. The higher fees may limit adoption among price-sensitive investors but could attract dedicated believers in privacy-focused coins and emerging DeFi protocols willing to pay for institutional-grade custody and regulation.
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