ETC Group Says It Will List an Exchange-Traded Product Based on Anticipated ETH Hard Fork

Digital asset-backed securities supplier the Etc Group has said it volition database an exchange-traded merchandise (ETP) based connected an anticipated hard fork of the Ethereum blockchain connected September 15. Current holders of Etc Group’s ethereum ETP (ZETH) volition beryllium issued with “units of the caller information escaped of complaint connected a 1:1 portion basis.”

Ethereum Hard Fork

The Etc Group, a supplier of institutional-grade integer asset-backed securities, has said it volition database a caller exchange-traded merchandise (ETP) based connected a hard fork of the Ethereum blockchain that is apt to hap aft the alleged “Merge.” According to a connection issued by the securities provider, the ETP volition beryllium listed connected the German speech Xetra connected September 16, a time aft the forking event.

As outlined successful the securities provider’s statement, holders of Etc Group’s existent ethereum ETP (ZETH) volition beryllium issued with “units of the caller information escaped of complaint connected a 1:1 portion basis.” The connection explained that the caller units volition beryllium “in summation to their existing ZETH holdings which volition persist and beryllium backed by ETH arsenic before.”

As the Ethereum blockchain’s anticipated power from a proof-of-work (PoW) to proof-of-stake (PoS) statement mechanics approaches, a fig of crypto experts judge The Merge volition spot immoderate “miners forking ETH to support a PoW mentation truthful they tin proceed mining.” As a consequence, existent ETH holders volition apt receive airdrops of a caller altcoin called ETHW.

Explaining the reasons down the Etc Group’s program to database the ETP, the organization’s laminitis and co-CEO, Bradley Duke, said:

“When we launched Etc Group, we committed to holders of our integer asset-backed securities that they would payment from hard forks to the underlying integer assets and cryptocurrencies. In enactment with this and our demonstrated enactment of the integer plus industry, immoderate holders of our Ethereum-based ETP (ZETH) volition receive, astatine nary cost, matching units of the caller Ethereum PoW ETP soon aft the Ethereum Hard Fork occurs, which we’re expecting astir September 15.”

Before announcing plans to database the caller ETP, the Etc Group had released a research report explaining The Merge and what volition apt hap aft September 15. The destiny of ETH miners arsenic good arsenic the forked chain’s chances of succeeding are besides examined.

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