European asset manager 21Shares has listed two physically backed cryptocurrency exchange-traded products (ETPs) on Euronext Paris and Euronext Amsterdam, including Europe's first Zcash (ZEC) ETP and a new product tracking Ether.fi's ETHFI token. Both ETPs hold spot tokens in custody, allowing investors to gain exposure without direct ownership, and carry an annual management fee of 2.5%. The launch reflects growing institutional interest in compliant access to diverse crypto assets across U.S. and European markets. This expansion follows Grayscale's earlier introduction of a Zcash ETF in the United States, signaling increased demand for regulated investment vehicles covering privacy coins and DeFi governance tokens.