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gray scale investment announced Following Ethereum’s transition to Proof of Stake (PoS), we plan to sell the ETHPoW tokens received from the PoW hard fork.
Shortly after the September 15th merger, the miners hard forked Ethereum. Ethereum PoW network. As was suggested, ETHPoW tokens have been distributed to eligible ETH holders.
Two funds owned by Grayscale Investment have received a cumulative total of 3,100,629 ETHPoW tokens. Grayscale Ethereum Trust (ETHE) received approximately 3,059,976 ETHPoW tokens and Grayscale Digital Large Cap Fund (GDLC) received 40,653 ETHPoW tokens.
ETHE and GDLC Funds will transfer ownership of the ETHPoW tokens to Grayscale Investments by the close of business on September 26th. Grayscale Investments intends to retain custody of the tokens until they are available for sale.
our funds $ETHE & $GDLC You passively received the rights to the forked ETHPoW token. To the extent practicable, we will consider selling these tokens and distributing the net cash proceeds to our stockholders on the record date.
Please read the release for important details. https://t.co/0subq36to0Grayscale (@Grayscale) September 16, 2022
Should the ETHPoW token be listed on exchanges and ample liquidity developed, Grayscale will sell its holdings and redistribute the proceeds to its shareholders.
Grayscale added that it is unable to determine the value of the ETHPoW token as little liquidity has been created for trading across crypto exchanges.
Shortly after the merger, several major cryptocurrency exchanges launched spot trading of the EthereumPoW (ETHW) token.
FTX announced It is a spot trade of ETHW and has executed $28.7 million worth of trades to date. Other exchanges that have launched spot trading of ETHW tokens include Bybit, MEXC Global, Bitfinex, Kraken and Huobi.
Moved to OKX release Limit perpetual trading of USDT-ETHW.according to coin market capitalization data, OKX handles 38.19% of ETHW transactions, or about $39.7 million.
At press time, the price of ETHW is transaction At $11, it has fallen more than 80% from its 24-hour high of $60.68.
