Valour announced on September 29, 2026 the launch of the VALOUR ZCASH (ZEC) SEK ETP, giving investors access to Zcash through traditional brokerage infrastructure. The product began trading on the Spotlight Stock Market under ISIN CH1108681763, adding exposure to one of the longest-running blockchain networks built around transaction privacy.
Jacob Lindberg, Chief Revenue Officer of Valour, said in the company’s announcement that Zcash gives users the ability to transact privately using zero-knowledge cryptography, and the company has seen growing interest in ZEC from both professional and Nordic retail investors.
The ETP carries a 1.9% management fee and tracks ZEC’s price performance rather than requiring investors to purchase and store the asset themselves.
DeFi Technologies, Valour’s parent company, also announced the launch through its official X account, framing it as another step in expanding regulated access to privacy-focused digital assets:
What the Zcash ETP Offers
The new product gives investors a securities-market route to ZEC while removing the need for direct cryptocurrency custody, comparable to how investors can buy ZCash on Binance directly, but without managing wallets or private keys.
| Valour Zcash ETP | Details |
| Product | VALOUR ZCASH (ZEC) SEK ETP |
| Trading venue | Spotlight Stock Market |
| Launch date | September 29, 2026 |
| ISIN | CH1108681763 |
| Management fee | 1.9% |
Table 1. Key details of the Valour Zcash ETP at launch.
Valour said the launch expands its ETP platform to more than 100 products, covering major cryptocurrencies, Layer 1 and Layer 2 networks, DeFi protocols, staking products, and other blockchain ecosystems.
Why Zcash Was Built Around Transaction Privacy
Zcash launched in 2016 as a decentralized currency and payment network designed to give users greater control over transaction privacy, becoming notable for zk-SNARKs, zero-knowledge proofs that let transactions validate without revealing certain information, a topic explored further in whether privacy coins are worth it.
The network supports both shielded and transparent transactions, with shielded transactions protecting amounts and parties involved while transparent ones operate like conventional public blockchains, and ZEC used to transfer value and pay fees. That dual structure remains central to understanding this asset.
Nearly 29% of Issued ZEC Sits in Shielded Pools
Current onchain data provides a more detailed picture of the network’s privacy infrastructure. As of September 24, approximately 4.91 million ZEC was held across Zcash’s shielded pools, representing 28.96% of issued supply, with the largest share in the newer Ironwood pool and the remainder across Sapling, Orchard, and the legacy Sprout pool.
| Zcash Privacy Infrastructure | Latest Data |
| ZEC in shielded pools | ~4.91M |
| Share of issued supply | 28.96% |
| Ironwood | ~4.00M ZEC |
| Orchard | ~383,910 ZEC |
| Sapling | ~504,460 ZEC |
| Sprout | ~22,430 ZEC |
Table 2. ZEC held across Zcash’s shielded pools as of September 24, 2026.
This measures coins held in shielded pools, not the percentage of private transactions, so it shouldn’t be treated as a direct measure of privacy adoption.
Shielded Transactions Hit a Four-Year High
Zcash recorded 62,375 shielded transactions during the week ending September 24, the highest weekly total since 2022, according to data from Blockworks cited by CoinNess. Weekly counts had generally stayed between 8,000 and 12,000 from January through July before rising sharply in August and September, with the network processing approximately $23.88 billion in transfer volume that week.
The 2022 comparison comes with a caveat, since earlier activity was affected by a spam attack, meaning the historical high isn’t directly comparable without that context. This gives the ETP launch a current backdrop, with Valour bringing ZEC to listed markets during a measurable rise in shielded activity.
How the ETP Differs From Direct ZEC Ownership
An ETP and direct ownership of ZEC aren’t the same structure. The ETP carries its own fee, while its value stays closely connected to the underlying cryptocurrency’s price, bringing Zcash into a familiar securities-market format without changing how the network operates. The product remains exposed to risks including price fluctuations, regulatory changes, and liquidity conditions.
What Comes Next for the Product
The Zcash ETP began trading on Spotlight Stock Market on September 29, giving investors another exchange-traded route into a digital asset whose defining technology centers on transaction privacy. The company hasn’t disclosed an expected asset target or additional market listings, though the launch arrives alongside increased shielded activity and the continued migration of ZEC into newer privacy pools.
What this means for you: Valour’s new Zcash ETP provides traditional brokerage access to ZEC without requiring investors to manage the cryptocurrency directly. The product trades on Spotlight Stock Market under ISIN CH1108681763 and carries a 1.9% management fee.
At the same time, Zcash’s network is seeing increased privacy-related activity, with about 4.91 million ZEC held in shielded pools and 62,375 shielded transactions recorded during the week ending September 24.
This article is for informational purposes only and does not constitute financial or investment advice. The VALOUR ZCASH (ZEC) SEK ETP carries risks associated with Zcash, digital-asset markets, liquidity, regulation, and market conditions. An investment in the ETP is not the same as directly holding ZEC. Investors should review the applicable product documentation before investing.
