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 stated it’ll listing an exchange-traded product (ETP) primarily based on an anticipated exhausting fork of the Ethereum blockchain on September 15. Current holders of Etc Group’s ethereum ETP (ZETH) shall be issued with “models of the brand new safety freed from cost on a 1:1 unit foundation.”

Ethereum Hard Fork

The Etc Group, a supplier of institutional-grade digital asset-backed securities, has stated it’ll listing a brand new exchange-traded product (ETP) primarily based on a tough fork of the Ethereum blockchain that’s prone to happen after the so-called “Merge.” According to a press release issued by the securities supplier, the ETP shall be listed on the German alternate Xetra on September 16, a day after the forking occasion.

As outlined within the securities supplier’s statement, holders of Etc Group’s present ethereum ETP (ZETH) shall be issued with “models of the brand new safety freed from cost on a 1:1 unit foundation.” The assertion defined that the brand new models shall be “along with their current ZETH holdings which is able to persist and be backed by ETH as earlier than.”

As the Ethereum blockchain’s anticipated change from a proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism approaches, numerous crypto specialists imagine The Merge will see some “miners forking ETH to maintain a PoW model to allow them to proceed mining.” As a consequence, present ETH holders will probably receive airdrops of a brand new altcoin known as ETHW.

Explaining the explanations behind the Etc Group’s plan to listing the ETP, the group’s founder and co-CEO, Bradley Duke, stated:

“When we launched Etc Group, we dedicated to holders of our digital asset-backed securities that they’d profit from exhausting forks to the underlying digital belongings and cryptocurrencies. In line with this and our demonstrated management of the digital asset trade, any holders of our Ethereum-based ETP (ZETH) will obtain, for free of charge, matching models of the brand new Ethereum PoW ETP quickly after the Ethereum Hard Fork happens, which we’re anticipating round September 15.”

Before asserting plans to listing the brand new ETP, the Etc Group had launched a research report explaining The Merge and what’s going to probably occur after September 15. The destiny of ETH miners in addition to the forked chain’s probabilities of succeeding are additionally examined.

What are your ideas on this story? Let us know what you suppose within the feedback part under.

Add a Comment

Your email address will not be published. Required fields are marked *