Grayscale – one of the world’s largest crypto asset managers – may prepare a cash landing for holders of the Ethereum Trust and Digital Large Cap Fund.
The cash contribution represents the value of the ETHPoW (ETHW) tokens that grayscale investors are entitled to follow the fork in the network, according to the company’s filing with the SEC on Friday.
Free money for gray scale investors?
The Archive Announces Grayscale’s right to distribute the cash equivalent of ETHW tokens to holders of Ethereum products by September 26. However, the exact value of these assets is unclear.
The filing reads, “There is uncertainty about whether digital asset custodians will support ETHPoW tokens or whether trading markets with meaningful liquidity will develop.”
ETHW was launched just hours after the Ethereum merger, transforming the Ethereum consensus mechanism into Proof of Stake. The new chain was organized by a consortium of Ethereum legacy miners to maintain the Proof of Work mechanism that preserves their profits.
So far, ETHW has been trading on exchanges for IOUs, not actual coins. “Holders” include those who held ETH on exchanges prior to the fork, giving them future rights to such tokens on the exchange.
Grayscale’s Ethereum Trust and Digital Large Cap Fund give investors exposure to ETH using coins held by the company. Based on grayscale Current numbersShe has over 3 million ETH in her trust and over 40,000 ETH in her fund – where investors also get rights to ETHW tokens at a 1:1 ratio.
Big exchanges like Binance And the Currency base It also confirmed that it will give fair compensation from ETHW to accounts that held ETH prior to the merger. However, both companies made it clear that ETHW must go through a listing review process before it is available for trading.
Grayscale said that their approach to handling future Ethereum forks will be decided on a case-by-case basis.
ETHW إذن permission
At the time of the merger, ETHW was the first token to experience significant price volatility, rather than ETH.
IOU . coin Collected From $30 to $51 the night before, before crashing to just $19 later Thursday. It is now trading at a record low of just $9.35.
However, the coin is still gaining recognition among the former Ethereum mining pools, which have Extended Support to the new series.
Grayscale May post rewarding contributors through ETHPoW cash exchange first appeared on CryptoPotato.