Grayscale Investments Announces Approval of Public Quotation for Eligible Shares of Ethereum Classic Investment Trust
NEW YORK, May 4, 2018 /PRNewswire/ -- Grayscale Investments, LLC, a leader in digital currency asset management and the sponsor of Bitcoin Investment Trust (OTCQX: GBTC), today announced that common units of fractional undivided beneficial interest ("Shares") in Ethereum Classic Investment Trust (the "Trust") were approved by FINRA for a public quotation (OTCQX: ETCG) on OTC Market's OTCQX® Best Market.
Launched in 2017 and sponsored by Grayscale, the Trust is a private, open-ended trust that holds Ethereum Classic ("ETC") and derives its value solely from the value of such ETC. It enables investors to gain exposure to the price movement of ETC without the challenges of buying, storing, and safekeeping ETC. As of April 30, 2018, each Share of the Trust represents ownership of 0.96988630 ETC. The Trust will not generate any income and regularly sells/distributes ETC to pay for its ongoing expenses. Therefore, the amount of ETC represented by each Share gradually declines over time.
Grayscale provides investors access to the digital currency asset class through its family of single-asset and diversified investment products. 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). In 2018, Grayscale introduced its first diversified investment vehicle, Digital Large Cap Fund, which provides exposure to the top digital currencies by market capitalization.
There will be no trading volume in the Shares' public quotation until the Shares are DTC eligible, which the Trust is expected to receive soon. However, investors can find current financial disclosure and Real-Time Level 2 quotes for the Trust's Shares on www.otcmarkets.com.
About Grayscale Investments, LLC
Established in 2013 by Digital Currency Group, Grayscale Investments, LLC is a trusted authority on digital currency investing. Grayscale provides secure access to the digital currency asset class through its single-asset and diversified investment products, including Bitcoin Investment Trust (OTCQX: GBTC), Ethereum Classic Investment Trust (OTCQX: ETCG), and Digital Large Cap Fund. As of April 30, 2018, the firm managed $1.9 billion in assets. For more information on Grayscale, please visit www.grayscale.co or follow us on Twitter, @GrayscaleInvest.
SOURCE Grayscale Investments, LLC
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