Euronext has halted the planned launch of CoinShares’ Zcash exchange-traded product on its Paris market, citing settlement-related operational requirements. The suspension took effect on Wednesday, October 28, when the product was scheduled to begin trading, and will remain in place until the relevant market infrastructure can support standard settlement operations.
Why the product was suspended
In a notice issued Wednesday, Euronext said the CoinShares Zcash ETP, identified by the ticker ZCSH, was suspended from trading on Euronext Paris until further notice. The exchange’s notice did not initially explain the decision.
A Euronext spokesperson later told Cointelegraph that the action was linked to “operational settlement requirements.” Flavio Bornancin-Tomasella, the exchange’s press and communications manager, said the suspension would continue until standard settlement operations could be fully supported by the Central Securities Depository, or CSD.
Settlement is the process through which a trade is completed, including the transfer of the security and the corresponding funds between the parties involved. A CSD provides core post-trade infrastructure for recording securities and supporting their settlement. Euronext said the measure was strictly limited to operational settlement requirements.
What the delay means for CoinShares
CoinShares had announced the planned Zcash ETP launch earlier on Wednesday. Because trading was stopped before the scheduled debut, investors did not receive the expected first trading session for the product on Euronext Paris.
An ETP is a listed investment product designed to provide exposure to an underlying asset or market and can be traded on an exchange during market hours. In this case, the product is based on Zcash, a cryptocurrency. The suspension concerns the ability to support the product’s trading and settlement process; the material does not identify a change to the product’s investment structure or to Zcash itself.
CoinShares did not respond to Cointelegraph’s request for comment by the time of publication. The suspension notice did not give a timetable for the product’s possible resumption, saying only that it would remain in effect until the settlement requirement was addressed.
A crowded European Zcash product market
The delay means CoinShares’ product did not become the fourth Zcash-based ETP listed in Europe as planned. Earlier launches by 21Shares, Virtune and Valor had already brought three other Zcash ETPs to the European market, according to the source material.
The episode highlights the importance of post-trade infrastructure alongside the listing decision itself. Even when an exchange is prepared to admit a product for trading, settlement support from the central securities depository remains necessary for transactions to be completed through standard market processes.
Zcash market picture
Moneyiar market data showed Zcash (ZEC) at $1,217.5366787048 as of October 25, 2026, at 22:38 +03:30. The cryptocurrency was up 1.24% over the previous 24 hours and 9.57% over seven days. These figures are Moneyiar data at that stated time and do not indicate when, or whether, the CoinShares ETP will begin trading.
