Zcash Tops $1,600 as Europe’s First ZEC ETP Launches
ZEC gained 43% in seven days as daily trading volume reached about $1.77 billion, outpacing the broader crypto market’s 14% advance.
Zcash (ZEC) crossed the $1,600 threshold after 21Shares introduced a physically backed European investment product designed to provide brokerage-based exposure to the privacy-focused asset.
ZEC reached an intraday high of about $1,643 and was trading slightly above $1,600. The token gained more than 10% in 24 hours and 43% over seven days, compared with a 14.1% rise for the broader crypto market.
The product is listed on the Euronext markets in Paris and Amsterdam. It carries a 2.5% annual management fee and gives investors exposure without requiring them to buy, store or manage ZEC directly.
Trading activity also accelerated. ZEC recorded about $1.77 billion in 24-hour volume, up 61.1% from the previous day, while its price moved between roughly $1,456 and $1,643.
The move has coincided with heavy derivatives activity. About $21.62 million in Zcash positions were liquidated over 24 hours, including $19.39 million in short positions. A separate U.S. spot Zcash exchange-traded fund also trades on NYSE Arca, giving investors in both regions regulated market vehicles tied to ZEC.
