Zcash Surges Past $1,600 Following Europe's First ZEC ETP Launch

Zcash (ZEC) surpassed $1,600 for the first time since 2016, driven by the launch of Europe's first ZEC exchange-traded product (ETP) by 21Shares on Euronext Paris and Amsterdam. The product allows investors to gain exposure to ZEC through traditional brokerage accounts with a 2.5% annual management fee. 21Shares also introduced an ETP for ETHFI. This European expansion follows the recent launch of Grayscale's spot Zcash ETF in the U.S. Market activity has been bolstered by significant leveraged trading, with reports of a 50x long position yielding substantial returns. ZEC has seen gains of over 91% in the past 30 days, significantly outperforming the broader crypto market.