2 years ago
GrayScale Investment has announced plans to merchantability ETHPoW tokens it received from the PoW hard-fork pursuing Ethereum’s modulation to proof-of-stake (PoS).
Shortly aft the Merge on Sept. 15, miners hard-forked Ethereum to motorboat the Ethereum PoW network. As proposed, ETHPoW tokens were distributed to eligible ETH holders.
Two funds owned by GrayScale Investment received a cumulative sum of 3,100,629 ETHPoW tokens. Grayscale Ethereum Trust(ETHE) received astir 3,059,976 ETHPoW tokens, portion Grayscale Digital Large Cap Fund (GDLC) received 40,653 ETHPoW tokens.
The ETHE and GDLC funds volition transportation ownership of their ETHPoW tokens to Grayscale Investment by the adjacent of concern connected Sept. 26. Grayscale Investment is expected to clasp custody of the tokens until it is capable to merchantability them.
Our funds $ETHE & $GDLC person passively received the rights to forked ETHPoW tokens. To the grade it is practicable, we volition look to merchantability these tokens & administer nett currency proceeds to grounds day shareholders.
Read our merchandise for important details: https://t.co/0subq36to0
— Grayscale (@Grayscale) September 16, 2022
If speech listing and heavy liquidity are developed for ETHPoW tokens, Grayscale volition determination to merchantability its holdings and redistribute the proceeds to shareholders.
Grayscale added that it is not capable to find the worth of the ETHPoW tokens arsenic small liquidity has been created for trading crossed crypto exchanges.
Spot trading opened for ETHW token
Shortly aft the merge, respective large crypto exchanges launched spot trading for EthereumPoW (ETHW) token.
FTX announced its spot trading for ETHW and truthful acold has executed $28.7 cardinal worthy of trades. Other exchanges that person opened spot trading for ETHW tokens see Bybit, MEXC Global, Bitfinex, Kraken, and Huobi.
OKX moved to launch USDT-marginal perpetual trading for ETHW. According to Coinmarketcap data, OKX is handling 38.19% of ETHW trading, which amounts to astir $39.7 million.
As of property time, ETHW’s terms is trading astatine $11, indicating an implicit 80% autumn from its 24-hour precocious of $60.68.
The station GrayScale Investment moves to merchantability each ETHPOW tokens appeared archetypal connected CryptoSlate.
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