Grayscale Investments will sell the ETHW cryptocurrency received after the launch of the Ethereum fork on the Proof-of-Work (PoW) consensus algorithm. The resulting profit is planned to be distributed between the shareholders of Ethereum Trust (ETHE) and Digital Large Cap Fund (GDLC).
Our funds $ETHE & $GDLC have passively received the rights to forked ETHPoW tokens. To the extent it is practicable, we will look to sell these tokens & distribute net cash proceeds to record date shareholders.
Read our release for important details: https://t.co/0subq36to0
— Grayscale (@Grayscale) September 16, 2022
“Our ETHE and GDLC funds have passively acquired the rights to ETHW fork tokens. To the extent possible, we will try to sell these assets and distribute the net profit among the holders of units at the date of registration, ”the statement said.
Grayscale also plans to sell the assets within 180 days of the announcement of the initiative. After the launch of the EthereumPoW blockchain, the ETHE trust received over 3 million ETHW, GDLC – about 0.04 million ETHW.
According to its own estimate, Ethereum Trust manages over $4.37 billion in assets and is one of the largest funds in the structure. The assets of the Digital Large Cap Fund are estimated at $0.19 billion.