May 22, 2018, 07:00 ET
NEW YORK, May 22, 2018 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Ethereum Classic Investment Trust (OTCQX: ETCG), a private, open-ended trust that is invested exclusively in ethereum classic, has qualified to trade on the OTCQX® Best Market.
Ethereum Classic Investment Trust began trading on OTCQX on May 4, 2018 under the symbol "ETCG." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are proud to welcome Ethereum Classic Investment Trust, Grayscale Investments' second publicly-traded investment vehicle, to our OTCQX Best Market," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "The introduction of Bitcoin Investment Trust (OTCQX: GBTC) in 2015 and now Ethereum Classic Investment Trust (OTCQX: ETCG) on OTCQX exemplify our team's vision for the platform as a unique venue for trading innovative companies."
"Our team is committed to bridging the gap between digital currencies and the investment community," said Michael Sonnenshein, Managing Director at Grayscale Investments. "We are delighted to again partner with the OTC Markets team, bringing our second digital currency investment product to a US market."
Ethereum Classic Investment Trust was sponsored for OTCQX by Orrick, Herrington & Sutcliffe LLP, a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.
About Ethereum Classic Investment Trust
Ethereum Classic Investment Trust is a private, open-ended trust that is invested exclusively in ethereum classic (ETC) and derives its value solely from the price of ETC. It enables investors to gain exposure to the price movement of ETC without the challenge of buying, storing, and safekeeping ETC. The Trust's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group. As of March 31, 2018, each share of the Trust represents ownership of 0.97228085 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.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
OTC Link ATS and OTC Link ECN are operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
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SOURCE OTC Markets Group Inc.
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