Euronext Paris suspends trading in CoinShares Zcash ETP on launch day

CoinShares’ Zcash ETP (ZCSH) will not begin trading as planned on Euronext Paris following a suspension announced by the exchange today, according to a notice.

The suspension was due to “operational settlement requirements,” a Euronext spokesperson told Cointelegraph, adding that it would remain in place until the CSD supports settlement operations.

CoinShares announced the launch of the product on October 28 as part of its CoinShares Physical range.

The ETP, which charges a 1.5% annual management fee, is 100% physically backed by ZEC, the native token of the Zcash blockchain, and provides investors with exposure through a security traded on a regulated exchange. Investors can access it through existing brokerage accounts without managing private keys or arranging direct custody.

Zcash was launched in October 2016 as a Bitcoin codebase fork, retaining a 21 million coin supply limit, proof-of-work consensus and periodic halvings while introducing optional transaction privacy. Its zero-knowledge proof technology allows transactions to be verified without revealing their contents, while viewing keys provide a way to grant access to selected transaction information for auditing.