Euronext Suspends CoinShares Zcash ETP Trading, Says Settlement System Not Yet Ready

TechFlow reported on Oct. 29, citing Cryptopolitan, that Euronext suspended trading of CoinShares' newly launched Zcash ETP (ticker: ZCSH) on the Paris market on Oct. 28, just hours after the product's listing. An Euronext spokesperson said the suspension was because the central securities depository (CSD) could not yet support standard settlement operations, not due to regulatory issues, and that the product will resume trading once settlement conditions are met.

The product is fully backed by ZEC, denominated in euros, and has an annual fee rate of 1.50%. Zcash ETPs from 21Shares, Virtune, and Valor are still trading in Europe. Grayscale's U.S. Zcash fund had approximately $686 million in assets under management as of late October, with net inflows of approximately $41.1 million during the week of Oct. 23.

Source: TechFlow