Digital Currency Group company Grayscale Investments, the New York-based operator of the Bitcoin Investment Trust officially announced today the live launch of the Ethereum Classic Investment Trust.
Both the Bitcoin Investment Trust and the Ethereum Classic Investment Trust are private investment vehicles, not registered with any regulatory agency of any jurisdiction, and are NOT subject to the same regulatory requirements as SEC-registered exchange-traded funds or mutual funds, including the requirement to provide certain periodic and standardized pricing and valuation information to investors.
Grayscale announced this second cryptocurrency investment trust for Ethereum Classic back in January, the fund uses the ETC Index (USD denominated) from digital currency data provider TradeBlock.
As noted above, the fund is only open to accredited investors. Though back in January, Grayscale announced it filed an SEC registration statement for its Bitcoin Investment Trust. However, knowing the SEC’s recent distaste and history with cryptocurrency funds, it might be a little while before the Bitcoin and Ethereum Classic investment trusts become available to the wider public.
Eligible accredited investors* may now invest through our Distribution & Marketing Agent, Genesis Global Trading (an affiliate of Grayscale Investments).
The Ethereum Classic Investment Trust’s shares are the first securities solely invested in and deriving value from the price of ETC.
The Ethereum Classic Investment Trust enables investors to gain exposure to the price movement of ETC through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping ETC.
|Investment Objective||Shares track the ETC market price, less fees and expenses|
|Benchmark Index||TradeBlock ECX Index 24-hour VWAP|
|Annual Fee||3% (includes Development Contribution)*|
|ETC per Share||1.0‡|