@Euronext has suspended trading in the CoinShares Zcash exchange-traded product (ETP), ticker $ZCSH, on the day it was due to debut on Euronext Paris. The product was designed to give investo
@Euronext has suspended trading in the CoinShares Zcash exchange-traded product (ETP), ticker $ZCSH, on the day it was due to debut on Euronext Paris. The product was designed to give investors regulated European exposure to Zcash ($ZEC). The suspension applies until further notice.
Euronext's notice on Wednesday did not give a reason for the halt, according to Cointelegraph. A Euronext spokesperson later told the outlet that the product will stay suspended until "standard settlement operations can be fully supported by the Central Securities Depository (CSD)." The spokesperson added that the measure is strictly limited to operational settlement requirements.
No date has been given for when trading could begin. The stated condition for lifting the suspension is that the CSD can fully support settlement for the product. Cointelegraph reported that CoinShares had not responded to its request for comment at the time of publication.
The explanation points to a technical issue rather than a decision about the asset. Crypto Briefing noted that a 21Shares Zcash ETP has traded on Euronext since late September with no reported interruptions, which suggests the problem is specific to this listing's settlement setup.
CoinShares announced the launch on 28 October. According to RankiaPro, the CoinShares Zcash ETP offers regulated exposure to ZEC, the native token of the Zcash layer-1 blockchain. It is listed initially on Euronext Paris and trades in euros. The product is designed so that investors do not need to manage wallets or private keys.
The suspension delays what would have been the fourth Zcash-based ETP listed in Europe, Cointelegraph reported. 21Shares, Virtune and Valor launched Zcash ETPs earlier this year. Decrypt reported that 21Shares listed Europe's first Zcash ETP on Euronext Paris and Amsterdam on Sept. 22.
A suspension on a first trading day is unusual, and it will draw attention to how new products tied to privacy-focused assets are set up for settlement in Europe. For now, there is no indication from Euronext that the halt relates to Zcash's privacy features. Investors holding or planning to buy the product will need to wait for a further notice from the exchange.
Cointelegraph: Settlement Concerns Prompt Euronext to Suspend CoinShares' Zcash ETP on Debut
Crypto Briefing: Euronext Suspends CoinShares' Zcash ETP Before It Could Debut in Paris
Decrypt: Zcash's Wall Street Moment Reaches Europe With Its First ETP Listing
