Euronext briefly suspends CoinShares' Zcash note on debut day over settlement requirements
Euronext Paris halted trading in CoinShares' new Zcash exchange-traded note shortly after its launch on Oct. 28 due to central depository settlement requirements, with CoinShares reporting that trading resumed hours later.
Euronext Paris suspended trading in CoinShares' newly launched Zcash exchange-traded note on Wednesday morning, Oct. 28, just as the product was scheduled to begin trading. The exchange issued a corporate event notice halting the instrument, which trades under ticker symbol ZCSH, effective at 09:00 CET until further notice.[1][2][5]
Euronext spokesperson Flavio Bornancin-Tomasella stated that the suspension was prompted strictly by operational settlement requirements and would remain until standard settlement operations could be fully supported by the central securities depository. Bornancin-Tomasella emphasized that the move was unrelated to broader regulatory trends or concerns surrounding crypto-based ETPs.[4][5]
CoinShares press representative Benoît Pellevoizin told Unchained that trading resumed at noon CET, adding that the depository settlement issue had nothing to do with CoinShares itself. Unchained noted that it could not independently locate an official Euronext notice confirming the trading resumption.[3][5]
The instrument is Europe's fourth exchange-traded product offering exposure to Zcash, following earlier listings from 21Shares, Virtune, and Valour. The note shares the ticker ZCSH with an unrelated Grayscale Zcash ETF listed on NYSE Arca.[5]
Key facts
- Euronext Paris suspended CoinShares' Zcash ETN (ticker ZCSH, ISIN GB00BNRRG954) on its debut day under notice PAR_20261028_30850_EUR, effective at 09:00 on Oct. 28.
- Euronext spokesperson Flavio Bornancin-Tomasella said the halt was strictly limited to operational settlement requirements at the Central Securities Depository (CSD) and not tied to broader crypto ETP concerns.
- CoinShares representative Benoît Pellevoizin reported that trading resumed at noon CET and stated settlement operational requirements had nothing to do with CoinShares.
- Unchained reported that it could not locate a Euronext notice confirming the resumption of trading.
- The CoinShares product is Europe's fourth ETP tracking ZEC, joining existing products from 21Shares, Virtune, and Valour.
Sources · 5 sources
- DN
DEGEN NEWS@DegenerateNewsPost on X ·
NEW: @euronext SUSPENDS TRADING OF @CoinSharesCo'S NEW @Zcash $ZEC ETP "ZCSH" ON EURONEXT PARIS "UNTIL FURTHER NOTICE" ON ITS DEBUT DAY https://t.co/K6x6mAc2Sw
Open source - CB
Crypto Briefing@Crypto_BriefingPost on X ·
🚨 JUST IN: Euronext Paris has suspended trading in CoinShares' Zcash ETP on its planned launch day. https://t.co/NT5HCiv7mc
Open source - LS
Laura Shin@laurashinPost on X ·
Euronext pointed to "operational settlement requirements" at the securities depository for the morning suspension of CoinShares' Zcash note. CoinShares said settlement "has absolutely nothing to do with CoinShares." https://t.co/cyhusDQVtG
Open source - CT
Coin TelegraphArticle ·
Settlement concerns prompt Euronext to halt CoinShares’ Zcash ETP ahead of debut A Euronext spokesperson told Cointelegraph the suspension was due to “operational settlement requirements” and remains in effect until settlement operations are supported by the CSD.
Open source - UN
UnchainedArticle ·
CoinShares Says Zcash Product Trades Again in Paris Hours After Euronext Suspension Trading in a new CoinShares product tracking Zcash (ZEC) resumed on Euronext Paris on Wednesday, Oct. 28, according to CoinShares, hours after Euronext suspended it on what was meant to be its first day. Benoît Pellevoizin, a CoinShares press contact, told Unchained that trading resumed “at noon CET.” Unchained could not find a Euronext notice on the resumption. Earlier that day, the exchange published a corporate event notice that lists the suspension as starting at 09:00 on Oct. 28. The notice describes the instrument as an exchange-traded note (ETN) issued by CoinShares Digital Securities, under the symbol ZCSH and ISIN GB00BNRRG954. The notice did not explain the decision. Under “Reason,” it read only “upon the decision of Euronext and until further notice.” Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . Settlement at the Depository Euronext spokesperson Flavio Bornancin-Tomasella told Unchained on Wednesday that “the instrument will remain suspended until standard settlement operations can be fully supported by the Central Securities Depository (CSD).” He added that the measure “is strictly limited to these operational settlement requirements and is not tied to broader concerns or regulatory trends regarding crypto-based ETPs.” A CSD is the institution that holds securities and records their transfer when trades settle. CoinShares, which announced the product earlier on Wednesday, addressed the settlement question as well. Pellevoizin told Unchained that “settlement has absolutely nothing to do with CoinShares” in the same message that reported the resumption. A Crowded Field for Zcash Products The CoinShares note is the fourth exchange-traded product in Europe offering exposure to ZEC, after offerings from 21Shares , Virtune and Valour . 21Shares’ Zcash product charges a 2.5% annual management fee and uses BitGo as custodian. It debuted Sept. 22 on Euronext’s Paris and Amsterdam venues under the ticker ZCASH. In the U.S., Grayscale’s Zcash ETF began trading on NYSE Arca on Aug. 25. That fund also trades under the ticker ZCSH, the same symbol Euronext lists for the CoinShares note in Paris. The two are separate products from separate issuers on separate exchanges. Related Listen: Bits + Bips: How Claude Found Zcash’s Counterfeiting Bug The post CoinShares Says Zcash Product Trades Again in Paris Hours After Euronext Suspension appeared first on Unchained .
Open source