Crypto
ETC Group Says It Will List an Exchange-Traded Product Based on Anticipated ETH Hard Fork – Finance Bitcoin News
Digital asset-backed securities supplier the And many others Group has mentioned it is going to checklist an exchange-traded product (ETP) based mostly on an anticipated onerous fork of the Ethereum blockchain on September 15. Present holders of And many others 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 Laborious Fork
The And many others Group, a supplier of institutional-grade digital asset-backed securities, has mentioned it is going to checklist a brand new exchange-traded product (ETP) based mostly on a tough fork of the Ethereum blockchain that’s more likely to happen after the so-called “Merge.” In response to a press release issued by the securities supplier, the ETP shall be listed on the German trade Xetra on September 16, a day after the forking occasion.
As outlined within the securities supplier’s assertion, holders of And many others 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 present ZETH holdings which is able to persist and be backed by ETH as earlier than.”
Because the Ethereum blockchain’s anticipated swap from a proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism approaches, a lot of crypto consultants consider 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 possible obtain airdrops of a brand new altcoin referred to as ETHW.
Explaining the explanations behind the And many others Group’s plan to checklist the ETP, the group’s founder and co-CEO, Bradley Duke, mentioned:
“After we launched And many others Group, we dedicated to holders of our digital asset-backed securities that they might profit from onerous forks to the underlying digital belongings and cryptocurrencies. In keeping with this and our demonstrated management of the digital asset trade, any holders of our Ethereum-based ETP (ZETH) will obtain, for gratis, matching models of the brand new Ethereum PoW ETP quickly after the Ethereum Laborious Fork happens, which we’re anticipating round September 15.”
Earlier than asserting plans to checklist the brand new ETP, the And many others Group had launched a analysis report explaining The Merge and what is going to possible 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? Tell us what you suppose within the feedback part under.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It’s not a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, instantly or not directly, for any harm or loss brought on or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.