Euronext Paris Suspends CoinShares Zcash ETP on Launch Day Due to Settlement Issues
Euronext Paris announced the suspension of trading for CoinShares’ Zcash ETP (ZCSH) on its launch day, October 28. According to a spokesperson from Euronext, the suspension is due to "operational settlement requirements" and will continue until the Central Securities Depository (CSD) can support the necessary settlement operations.
The Zcash ETP is part of CoinShares' Physical range and is designed to provide investors with exposure to Zcash (ZEC) through a regulated security. It charges an annual management fee of 1.5% and is fully backed by ZEC, allowing investors to trade without the need for managing private keys or direct custody.
Zcash, which was launched in October 2016, is a fork of Bitcoin that retains a maximum supply of 21 million coins and employs a proof-of-work consensus mechanism. It also incorporates optional transaction privacy through its zero-knowledge proof technology, allowing transactions to be verified without disclosing their details.
FAQ
Why was the CoinShares Zcash ETP suspended on its launch day?
The CoinShares Zcash ETP was suspended due to operational settlement requirements that the Central Securities Depository (CSD) could not support at the time.
What is the annual management fee for the CoinShares Zcash ETP?
The CoinShares Zcash ETP charges an annual management fee of 1.5%.
What is Zcash and how does it differ from Bitcoin?
Zcash is a fork of Bitcoin that retains a maximum supply of 21 million coins and employs a proof-of-work consensus mechanism. It also offers optional transaction privacy through zero-knowledge proof technology.
What does it mean that the Zcash ETP is fully backed by ZEC?
Being fully backed by ZEC means that the ETP is supported by actual Zcash coins, allowing investors to gain exposure to Zcash without needing to manage private keys or custody the coins themselves.
When was the CoinShares Zcash ETP launched?
The CoinShares Zcash ETP was launched on October 28, 2023.
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