Euronext suspended CoinShares’ new Zcash exchange-traded product on Euronext Paris on Wednesday, October 28, 2026, the day it was scheduled to begin trading. The halt took effect before any transactions occurred and was later lifted the same day, allowing the product to start trading after a brief interruption.

The product, issued by CoinShares Digital Securities under the ticker ZCSH, forms part of the firm’s physical ETP range. It is fully backed by Zcash (ZEC) and carries a 1.5 percent annual management fee. CoinShares had announced the planned listing earlier that morning, positioning the instrument as a regulated way for investors to gain exposure through standard brokerage accounts without holding the underlying token directly.

Suspension Tied to Settlement Infrastructure

In an official notice, Euronext stated that trading in the CoinShares Zcash ETP was suspended until further notice. The exchange provided no initial reason. Clarification followed from Euronext’s press and communications manager, Flavio Bornancin-Tomasella, who linked the decision to operational settlement requirements.

He described the measure as strictly limited to those operational needs. The Central Securities Depository is the entity that holds securities in electronic form and records ownership transfers when trades settle. Without full support for standard processes, the exchange could not open trading.

CoinShares stated that the settlement matter was unrelated to the firm itself.

Trading Resumes Later the Same Day

According to CoinShares, trading in the ZCSH product restarted at noon Central European Time. The suspension had begun at 09:00 that morning. The resumption restored access on the scheduled debut day after a delay of several hours.

The listing would have marked the fourth Zcash-based exchange-traded product available in Europe. Earlier in 2026, 21Shares, Virtune and Valor had each introduced their own Zcash ETPs. A 21Shares product began trading on Euronext Paris and Amsterdam in September and carries a 2.5 percent annual management fee.

A separate Grayscale Zcash exchange-traded fund also uses the ticker ZCSH but trades on NYSE Arca under different issuance and regulatory arrangements.

Product Details and Market Context

The CoinShares instrument is designed as a physically backed security that tracks Zcash. Investors can buy and sell it through existing brokerage platforms, avoiding the need to manage private keys or arrange direct custody of the cryptocurrency. The 1.5 percent fee is lower than the 2.5 percent charged by the earlier 21Shares listing on the same exchange.

The temporary halt occurred against a backdrop of expanding European offerings for privacy-focused digital assets. Multiple issuers have moved to list Zcash products on regulated venues this year, giving institutional and retail investors additional routes to exposure beyond direct token ownership.

Euronext did not issue a public notice detailing the exact resolution of the settlement issue or confirm a formal resumption notice at the time CoinShares reported trading had restarted. The product is now available on Euronext Paris following the same-day restart.