- Euronext Paris suspended the CoinShares Zcash ETP (ZCSH) from trading on its planned debut day, October 28, 2026
- The suspension was due to ‘operational settlement requirements,’ with the Central Securities Depository (CSD) unable to fully support standard settlement operations
- The halt has no specified end date, remaining in effect until settlement operations are fully resolved
- The CoinShares Zcash ETP would have been the fourth Zcash-based ETP in Europe, joining products from 21Shares, Virtune, and Valor
Debut Day Halt On Euronext Paris
The launch of CoinShares’ ETP tracking Zcash (ZCSH) on Euronext Paris on 28 October 2026 has been paused by Euronext who announced that trading “has been paused until further notice.”
Exchange operator Euronext has suspended the CoinShares Zcash ($ZEC) ETP, ZCSH, on its first trading day in Paris, citing operational settlement requirements tied to the central securities depository.
The full story: https://t.co/uRoOyhmr3W https://t.co/zb8hsojYrF
— BSCN Newswire (@BSCNWire) October 29, 2026
No reason has been given for this at this point. CoinShares, the Jersey-based digital asset investment firm, did not respond to requests for comment before publication.
Source: Corporate Event Notice
Settlement Failure Behind The Suspension
Euronext subsequently clarified the reason through spokesperson Flavio Bornancin-Tomasella, who said in an interview that the suspension was caused by operational settlement requirements.
Specifically, standard settlement operations could not be fully supported by the Central Securities Depository (CSD) responsible for clearing trades on the exchange. The suspension will remain in place until those settlement operations are fully resolved.
Fourth Zcash ETP In Europe, Briefly
Had it launched successfully, the CoinShares ZCSH would have been the fourth Zcash-based exchange-traded product in Europe. There have been three further launches in early 2026, from 21Shares, Virtune (Sweden based) and Valor.
Zcash (ZEC) is another privacy focused crypto launched in 2016 that makes use of zero knowledge cryptography to allow shielded transactions.
The increasing popularity of Zcash within the European ETP market shows continual interest from institutions to invest in non-Bitcoin or Ethereum alternatives.
CSD Settlement Complexity
This incident demonstrates the ongoing issue faced by new crypto ETPs trying to enter the traditional exchange ecosystem. Central Securities Depositories provide clearing, settlement and custody services for financial instruments and new assets can often highlight some deficiencies in processes in place. Euronext have not provided any timeframe on when they will be able to meet the settlement requirements and return to normal operations.
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