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Settlement concerns prompt Euronext to halt CoinShares’ Zcash ETP ahead of debut

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Settlement concerns prompt Euronext to halt CoinShares’ Zcash ETP ahead of debut

Written by Zoltan Vardai staff writer Edited by Yohan Yun staff editor

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.

Stock exchange operator Euronext suspended CoinShares’ Zcash exchange-traded product (ETP) on Wednesday, when it was scheduled to debut for trading on Euronext Paris.

In a Wednesday notice , the exchange operator said the CoinShares Zcash ETP (ZCSH) was suspended from trading on Euronext Paris until further notice. The notice did not provide a reason for the decision.

CoinShares’ Zcash ETP will remain suspended until “standard settlement operations can be fully supported by the Central Securities Depository (CSD),” Euronext’s press and communications manager, Flavio Bornancin-Tomasella, told Cointelegraph, adding that the measure was strictly limited to “operational settlement requirements.”

The suspension notice delays what would have been the fourth Zcash-based ETP listed in Europe. Other companies that launched Zcash ETPs earlier this year include 21Shares, Virtune and Valor.

CoinShares announced the planned launch of its ZCASH ETP on Euronext Paris earlier on Wednesday. Cointelegraph contacted CoinShares for comment on the matter but did not receive a response by publication.

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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