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ETHFI 
ZEC 21shares在泛欧交易所推出Zcash和Ether.fi ETP，年费率2.5%
资产管理公司21shares近日扩大了其加密货币投资产品范围，在泛欧交易所巴黎和阿姆斯特丹分行上市了以实物支持的Zcash（ZEC）和Ether.fi（ETHFI）交易所交易产品（ETP）。这一举措使投资者能够通过传统券商账户接触这些数字资产，而无需直接持有代币。
产品详情与市场准入
这两款新的ETP旨在让投资者追踪Zcash以及Ether.fi的治理与实用型代币ETHFI的表现。由于产品均为“实物支持”类型，意味着每一份ETP份额都对应着底层实际持有的加密货币资产。投资者可以在欧洲最大的两家证券交易所——泛欧交易所巴黎站和阿姆斯特丹站买卖这些产品。
其中，ETHFI ETP追踪的是Ether.fi协议的表现。Ether.fi是一个去中心化金融（DeFi）协议，专注于质押服务及提供其他数字资产领域的金融服务。此类产品的加入，旨在为寻求通过合规渠道获取加密资产敞口的机构和个人投资者提供更多元化的接入点。
微型词典：Ether.fi
于2023年推出的Ether.fi是一个去中心化金融协议，允许用户质押以太坊（ETH），并使用其治理和实用型代币ETHFI参与多种DeFi服务。
These two products are positioned as more transparent physical support alternatives, attracting investors who value the transparency of fund positions compared to synthetic investment options.
Fee structure and competitive landscape
The annual management fee for Zcash and ETHFI ETP is set at 2.5%. This rate is significantly higher than the current fees charged on many Bitcoin and Ethereum investment products on European exchanges, which typically fluctuate between 0.2% and 1.5%.
The higher rate structure may reflect the complexity and lower liquidity of the underlying assets, or the operating expenses associated with keeping less circulating cryptocurrencies.
Industry participants are closely watching whether higher rates will affect investor demand for these specialty products.
Soaring Zcash prices and market attention
Zcash's listing comes as its privacy-oriented cryptocurrency has experienced a significant rise in the past year, attracting a lot of market attention. According to CoinMarketCap data, the price of ZEC recently exceeded US$1,500, an increase of nearly 1,100%.
The rally sparked a new round of discussion about Zcash as a potential alternative to Bitcoin. Although Bitcoin remains the largest and most widely used digital asset, some analysts point out that Zcash's unique privacy features and its potential to attract users seeking greater anonymity in blockchain transactions give it unique advantages.
Zach Pandl, research director at Grayscale, said Zcash may benefit from a "second mover advantage" that helps it overcome Bitcoin's established network effect barriers. Other early cryptocurrencies like Litecoin have failed to successfully address this challenge.
Recent market momentum has brought Zcash back into the eyes of investors and industry commentators, as people begin to compare its prospects with mature cryptocurrencies.
