Euronext suspended CoinShares' Zcash ETP on Euronext Paris on the day it was due to start trading. The exchange operator cited operational settlement requirements and gave no end date.
Euronext suspended CoinShares' Zcash exchange-traded product (ETP) on Wednesday, the day it was scheduled to debut on Euronext Paris. The exchange operator's notice said the product, ticker ZCSH, was suspended from trading until further notice, and it gave no reason for the decision.
The operator explained the halt to Cointelegraph. Its press and communications manager, Flavio Bornancin-Tomasella, said the suspension stays in place until "standard settlement operations can be fully supported by the Central Securities Depository (CSD)" and is strictly limited to operational settlement requirements.
However, the delay pushes back what would have been the fourth Zcash-based ETP listed in Europe. 21Shares, Virtune and Valor launched Zcash ETPs earlier this year. Cointelegraph contacted CoinShares for comment but received no response by publication.
What the product offers
CoinShares announced the launch on October 28 as part of its CoinShares Physical range. According to Crypto Briefing, the ETP charges a 1.5% annual management fee and is 100% physically backed by ZEC, the native token of the Zcash blockchain.
Zcash launched in October 2016 as a fork of the Bitcoin codebase and introduced optional transaction privacy. Its zero-knowledge proof technology lets the network verify transactions without revealing their contents.
Sources: Cointelegraph, Crypto Briefing
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