Fans of Ethereum, Ethereum Classic Happy As Greyscale Investment Announces Approval Of Public Quotation Of Trust

Fans of Ethereum, Ethereum Classic Happy As Grayscale Investment Announces Approval Of Public Quotation Of Trust

Grayscale Investment recently announced that shares in Ethereum Classic Trust (OTCQX: ETCG) were approved by Financial Industry Regulatory Authority (FINRA) for a public quotation on OTCQX Best Market.

About Grayscale Investments

Grayscale Investments, a cryptocurrency investment firm that belongs to the Digital Currency Group has just released a statement indicating their intent to file for the creation of new shares for their Ethereum Classic Investment Trust. Grayscale Investments currently manages $1.2 billion in assets. The company has done this sort of listing before with it’s Bitcoin Investment Trust.

Both the bitcoin trust and the Ethereum Classic trust are or will be listed on the OTCQX exchange. In 2018, Grayscale introduced its first diversified investment vehicle, Digital Large Cap Fund, which provides exposure to the top digital currencies by market capitalization.

What Is Ethereum Classic Investment Trust?

Ethereum Classic Investment Trust is a privately offered trust available exclusively to accredited investors. Ethereum Classic Investment Trust’s investment objective is for the value of its shares to reflect the price performance of Ethereum Classic (ETC), fewer fees and expenses.

Modeled after Grayscale’s Bitcoin Investment Trust, Ethereum Classic Investment Trust was created for investors seeking exposure to ETC through a traditional investment vehicle.

What Does The Trust Do?

For those of us who are more familiar with directly buying and holding digital currencies, it may be at first difficult to understand what the purpose of such an investment trust. The idea behind the trust is that it allows traditional, stock market investors access to cryptocurrencies, without needing to concern themselves with the technical issues surrounding, buying, holding, and selling them.

Additionally, by purchasing shares in the trust, tax compliance issues are simplified by making ownership no different than that of any other stock or bond.

Grayscale has launched seven single-asset investment vehicles that provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Zcash (ZEC). They provide investors access to the digital currency asset class through its family of single-asset and diversified investment products

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