21Shares has listed two physically backed crypto products on Euronext in Amsterdam and Paris. They track ZEC from Zcash, a blockchain with optional shielded transactions, and ETHFI from the financial platform ether.fi. Both cost 2.5 per cent a year.
Photo: 21Shares has listed exchange-traded products on Zcash and ether.fi. Graphic: 21Shares
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Asset manager 21Shares has launched two new exchange-traded products, or ETPs, each tracking a single crypto token. The products became available on 22 September on Euronext Amsterdam and Euronext Paris.
Both products are physically backed by the underlying tokens, which are held by third-party custodians. Investors can buy the products through an ordinary brokerage account, without opening an account on a crypto exchange or handling private keys themselves.
21Shares links the two products to what it describes as two of the most important themes in the development of digital assets: financial privacy and financial services on the blockchain.
According to 21Shares, financial privacy is moving from a niche concern to a broader investment theme. The company also believes financial services on the blockchain are moving from pure infrastructure to commercial operation.
"European investors want straightforward access to projects that are actually building useful technology. ether.fi is a great example of an ecosystem moving beyond basic staking into real-world use cases like cards and borrowing, while Zcash offers something truly distinct by combining Bitcoin's capped supply with optional privacy and future-proof cryptography," says Jasmin Muelhaupt, director of financial product development at 21Shares.
ZEC is the token of Zcash. According to 21Shares, Zcash is based on the same monetary architecture as bitcoin, with a cap of 21 million coins.
The difference is that Zcash allows shielded transactions, which use cryptography to conceal their content. Users can therefore choose how transparent a transaction should be.
21Shares is aiming the product at investors interested in financial privacy and in security against future quantum computers.
ETHFI is the governance and utility token of ether.fi. The protocol started with liquid restaking and is evolving into a broader platform for financial services on the blockchain.
According to 21Shares, billions in assets have already been deposited on the platform, which brings earning, borrowing, payments and card spending together in one service.
The products trade in US dollars on Euronext Amsterdam and in euros on Euronext Paris. The 21Shares ether.fi ETP has the ticker ETHFI and ISIN CH1608218819. The 21Shares Zcash ETP has the ticker ZCASH and ISIN CH1608218801.
Both products carry an annual fee of 2.5 per cent.
Sources: 21Shares
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