DeFi Technologies' subsidiary Valour has launched an exchange-traded product tracking Zcash on the Spotlight Stock Market, adding a privacy-focused asset to its regulated product suite.
The ETP went live on September 29, according to the announcement. Valour now holds more than 100 ETPs across its portfolio, with Zcash described in the announcement as the longest-standing privacy-focused network.
Valour is a subsidiary of Toronto-listed DeFi Technologies that issues regulated crypto-linked securities in European and Canadian markets. Spotlight Stock Market is a Swedish exchange operator. The Zcash product expands Valour's exposure to privacy coins at a moment when regulators globally have intensified scrutiny of anonymity-preserving assets, with some jurisdictions restricting or delisting privacy tokens from retail venues.
Zcash uses zero-knowledge proofs to enable optional transaction privacy. The protocol launched in 2016 and operates as a public blockchain with user-elected shielded transactions. Zcash trades with a fully diluted market value near $2 billion as of late September 2026.
ETP structures in regulated markets allow retail investors to gain price exposure to crypto assets without holding the underlying token directly. Valour's suite spans major assets including Bitcoin and Ethereum alongside smaller-cap tokens. The Zcash product carries the regulatory stamp required for sale to Swedish and other EU investors, a distinction that matters as privacy assets face increasing pressure from anti-money-laundering regimes.
The launch represents one of the few ways Zcash holders can gain regulated, custodied exposure in European markets. Many traditional platforms and exchanges have delisted or restricted privacy coins in recent years to comply with emerging AML frameworks that flag privacy features as higher-risk.
Valour's product count has grown steadily since its founding in 2019, with the Zcash ETP bringing the firm's listed offerings to over 100. That portfolio growth tracks broader institutional appetite for tokenized crypto products in regulated venues, even as regulators tighten rules on privacy assets themselves.
