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Ethereum Investment Trust Symbol

Ethereum Classic Investment Trust

Ethereum Classic Investment Trust

Gain exposure to the price movement of ethereum classic (ETC) through an investment vehicle without the challenges of buying, storing and safekeeping the underlying ETC. Private placements in the ETC Investment Trust are available for accredited investors only. The Ethereum Classic Investment Trusts 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 an traditional investment vehicle, without the challenges of buying, storing, and safekeeping ETC. Titled, auditable ownership through an investment vehicle The Ethereum Classic Investment Trust is an investment vehicle with shares titled in the investors name, providing a familiar structure for financial and tax advisors and easy transferability to beneficiaries under estate laws. Shares of the Ethereum Classic Investment Trust are eligible to be held in certain IRA, Roth IRA, and other brokerage and investor accounts. Supported by a network of trusted service providers Davis Polk & Wardwell LLP serves as legal counsel to the Sponsor of the Ethereum Classic Investment Trust. Financial statements for the Ethereum Classic Investment Trust are audited annually by Friedman LLP. The private keys for the Ethereum Classic Investment Trusts assets are maintained with Ledger SAS and protected by intense multi-factor security procedures. Want to Learn More About the Ethereum Classic Investment Trust? Fill out your information below and a Genesis trading specialist will get back to you. Continue reading >>

Grayscale Ethereum Classic Investment Trust Is Now Live

Grayscale Ethereum Classic Investment Trust Is Now Live

Grayscale Ethereum Classic Investment Trust is now live 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 SECs 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. The fund is looking pretty solid after its first official operating day. Eligible accredited investors* may now invest through our Distribution & Marketing Agent, Genesis Global Trading (an affiliate of Grayscale Investments). The Ethereum Classic Investment Trusts 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 safekeepi Continue reading >>

Grayscale Investments Launches $10 Million Ethereum Classic Private Fund

Grayscale Investments Launches $10 Million Ethereum Classic Private Fund

Grayscale Investments Launches $10 Million Ethereum Classic Private Fund April 28, 2017, 07:26:47 PM EDT By Alex Lielacher, Bitcoin Magazine The U.S. investment management company Grayscale Investments LLC has launched the first-ever private fund that invests in the digital currency ethereum classic (ETC) with $10 million in seed capital. The new fund is called the Ethereum Classic Investment Trust . Grayscale Investments , an investment subsidiary of the Digital Currency Group (DCG) founded by entrepreneur and investor Barry Silbert, has raised $10 million in seed capital from the Digital Currency Group, Silbert himself and Glenn Hutchins, co-founder of the private investment firm Silver Lake and board member of DCG, NASDAQ and AT&T. The purpose of the fund is to track the price of the digital currency ethereum classic (ETC), which was created a little under a year ago following the Ethereum hard fork . Ethereum Classic provides developers with the opportunity to create smart contracts as well as decentralized apps. Ethereum Classic has since emerged as one of the leading digital currencies in the market in terms of market capitalization and investor interest. The all-time high of ethereum classic was $5.11 on April 27, and its market capitalization currently stands at around $440 million, making it the sixth largest digital currency in the market according to CoinMarketCap . "I'm excited about Ethereum Classic, as opposed to Ethereum ( ETH ), because ETC has a fixed supply and the potential to serve as the smart contract and micropayment layer to the Internet of Things," Silbert said to Bitcoin Magazine . The Ethereum Classic Investment Trust is set up with a similar structure as Grayscale's Bitcoin Investment Trust, the only publicly traded bitcoin investment vehicl Continue reading >>

Exclusive: Grayscale Launches Digital-currency Fund Backed By Silver Lakes Co-founder Hutchins

Exclusive: Grayscale Launches Digital-currency Fund Backed By Silver Lakes Co-founder Hutchins

Exclusive: Grayscale launches digital-currency fund backed by Silver Lakes co-founder Hutchins The investment fund is called the Ethereum Classic Investment Trust, and is open to new money on Wednesday This chart details Ethereum Classics performance over the past six month. Grayscalean asset management firmis launching a new cryptocurrency-focused investment vehicle backed by Glenn Hutchins, a co-founder of private-equity firm Silver Lake. The investment fund is called the Ethereum Classic Investment Trust, according to a source close to the company who didnt want to be identified because the digital-currency focused fund is a private investment vehicle open only to high-net worth investors. It will open to outside capital Wednesday morning Eastern Time. Hutchins is one of a handful of early investors that have seeded the trust with about $10 million in capital, the source said. The Ethereum Classic Investment Trust is expected to be structurally identical to Grayscales Bitcoin Investment Trust GBTC, +0.19% , the only bitcoin investment vehicle that trades publicly in the U.S., but instead of bitcoin, it is pegged to Ethereum Classic, a software platform that includes a cryptocurrency token. The new investment product comes at a time when bitcoin and other digital currencies are garnering more public attention, if not wide adoption. In recent weeks, the Securities and Exchange Commission rejected a pair of exchange-traded funds tied to bitcoin, including one backed by Cameron and Tyler Winklevoss. But the rejection hasnt dampened the enthusiasm for digital currencies; the total market capitalization of the digital universe surpassed $30 billion for the first time earlier this week. The bitcoin investment trust typically trades at a premium to bitcoin, an indication of Continue reading >>

How To Buy Ethereum Classic

How To Buy Ethereum Classic

Join our newsletter to receive updates from EthereumPrice.org. Ethereum Classic (ETC) was formed in July 2016 following the infamous DAO Hack which took place on the Ethereum (ETH) chain. An exploit in the smart contract underlying the DAO (decentralized autonomous organization) enabled an attacker to syphon millions of Ether which had been invested into the DAO smart contract. The attack resulted in a contentious hard fork by the Ethereum Foundation, effectively reversing the malicious transactions and returning stolen funds to the DAOs investors. Many regarded this as deplorable censorship on the blockchain (whereby all transactions are immutable), and as a result the original Ethereum chain was maintained and rebranded as Ethereum Classic. Kraken has the world's largest cryptocurrency volume in EUR. Comparison disclosure: EthereumPrice.org provides a free (and advert-free) Ethereum price tracker. However, in order to sustain this free tool we have partnered with and receive commission from some of the platforms listed above. Ethereum Classic has a lower market cap than Ethereum, however its potential for growth has been very apparent since it was formed in July 2016. To understand the possible return on investment for ETC, it is best to first look at the key players behind the cryptocurrency and their role in ensuring its success. Barry Silbert: Ethereum Classic Investment Trust Barry Silberts Grayscale Investments is an investment firm which was started as a means to make purchasing Bitcoin and Ethereum Classic easy for mainstream investors. The ETC Trust purchases and secures Ethereum Classic tokens on its shareholders behalf, taking a small premium on each share sold. The trust launched in April 2017 with initial capital of $10M. Grayscale Investments has played Continue reading >>

Understandingthebitcoin Investment Trust (gbtc)

Understandingthebitcoin Investment Trust (gbtc)

Cryptocurrency Investing UnderstandingTheBitcoin Investment Trust (GBTC) Do you like our content? Or, do you want to test out a new wallet? Feel free to send some coins to one of our wallets public addresses. All donated funds will go toward improving the site. Attention New Cryptocurrency Investor, Dont Let a Correction Shake You What Will Futures Trading Do to Bitcoin and Altcoins? Market Turns Bearish As Futures Trading Approaches Suggestions on What to Do if You Bought Bitcoin at the Top Bitcoin TIP: Set Stops, Average, Buy the Dips, and Hold Bitcoin Hits $15k, $16k, and $17k! Beware the Bitcoin FOMO (Fear of Missing Out on Bitcoin) Bitcoin Breaks $13k (Subject to Change) Upcoming Bitcoin Forks 2017 2018 Bitcoin Correction Weighs Down the Altcoin Market The content of this website is provided for informational purposes only and cant be used as investment advice, legal advice, tax advice, medical advice, advice on operating heavy machinery, etc. Our site is not officially associated with any brand or government entity. Any mention of a brand or other trademarked entity is for the purposes of education, entertainment, or parody. Neither CryptocurrencyFacts.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from CryptocurrencyFacts.com. In other words, this is a website on the internet offering free information about cryptocurrency, this is not your accountant, lawyer, or fiduciary offering you professional tax, legal, or investment advice. See our about page for more disclaimers and information. UnderstandingTheBitcoin Investment Trust (GBTC) Tips for Trading GBTC (the Bitcoin Investment Trust) TheBitcoin Investment Trust ( GBTC ) is the only choice for in Continue reading >>

Grayscale Investments Commences Process To Secure Public Quotation For Ethereum Classic Investment Trust Shares On Otcqx

Grayscale Investments Commences Process To Secure Public Quotation For Ethereum Classic Investment Trust Shares On Otcqx

Grayscale Investments Commences Process to Secure Public Quotation for Ethereum Classic Investment Trust Shares on OTCQX NEW YORK, Nov. 12, 2017 /PRNewswire/ -- Grayscale Investments, LLC, the sponsor (the "Sponsor") of investment products including the Bitcoin Investment Trust (OTCQX: GBTC), the Ethereum Classic Investment Trust, and the Zcash Investment Trust announced today its intention to engage a sponsoring broker-dealer to file Form 211 with FINRA for the public quotation of Ethereum Classic Investment Trust shares (the "Shares") on the OTCQX market. A trusted authority on digital currency investing, Grayscale Investments, LLC has assets under management of $1.2 billion. To qualify for a public quotation of the Shares on the OTCQX market, as defined in Rule 15c2-11(e)(i) under the Securities Exchange Act of 1934, a sponsoring broker-dealer must prepare and file Form 211 with the FINRA, OTC Compliance Unit, on behalf of an issuer. The Sponsor has formally engaged Orrick Herrington & Sutcliffe LLP as securities counsel and OTCQX sponsor, and Friedman LLP as the Trust's auditor. Canaccord Genuity Inc. has informed the Sponsor that is intends to make a market in the Shares and will file FINRA Form 211 for that purpose. The Sponsor anticipates completing the process during the second quarter of 2018, however, no assurances can be given that they will be successful in obtaining a public quotation. For additional information, please contact [email protected] . Founded in 2013, Grayscale Investments, LLC is a wholly-owned subsidiary of Digital Currency Group, Inc., which builds and supports bitcoin and blockchain companies by leveraging its insights, network, and access to capital. A trusted authority on digital currency investing, Grayscale provides market insight and Continue reading >>

Bitcoin Investment Trust Announces Stock Split

Bitcoin Investment Trust Announces Stock Split

Bitcoin Investment Trust Announces Stock Split NEW YORK, Jan.11, 2018 /PRNewswire/ -- Grayscale Investments, LLC, the sponsor (the "Sponsor") of the Bitcoin Investment Trust (OTCQX: GBTC) (the "Trust"), announced that it has today declared a 91-for-1 stock split of the Trust's issued and outstanding shares. With the split, shareholders of record on January 22, 2018 will receive 90 additional shares of the Trust for each share held. The stock split will be effected on January 26, 2018 to shareholders of record as of the close of business on January 22, 2018. Following the stock split, the Trust's shares will continue to be quoted on theOTCQX under the symbol "GBTC." Based on 1,916,600 shares of the Trust issued and outstanding as of the date of this press release, immediately after effectiveness of the stock split on January 26, 2018, the Trust would have 174,410,600 shares outstanding. The Trust may create new shares after the date of this press release and up through the record date. After the close of business on the record date, the Trust will announce the total number of shares that will be issued and outstanding immediately after effectiveness of the stock split on January 26, 2018, which will give effect to any such new shares created after the date of this press release and up through the record date. Shareholders are not required to take any action to receive the shares in connection with the stock split and they will not be required to surrender or exchange their shares in the Trust. The transfer agent will automatically issue the new shares in the stock split. The transfer agent for shares of the Trust isContinental Stock Transfer & Trust Company. For questions relating to the transfer or mechanics of the stock split, stockholders may contactContinental Stock Continue reading >>

Shares To Be Issued In Ethereum Classic Investment Trust

Shares To Be Issued In Ethereum Classic Investment Trust

Shares to be Issued In Ethereum Classic Investment Trust Grayscale Investments, a cryptocurrency investment firm that belongs to the Digital Currency Group has just released a statement indicating their intent to file for the creation of new shares for their Ethereum Classic Investment Trust . Grayscale Investments currently manages $1.2 billion in assets. The company has done this sort of listing before with its Bitcoin Investment Trust. Both the bitcoin trust and the Ethereum Classic trust are or will be listed on the OTCQX exchange. The sponsor of the new listing, Orrick Herrington & Sutcliffe LLP has stated that they expect the process to be finished by mid-2018. For those of us who are more familiar with directly buying and holding digital currencies, it may be at first difficult to understand what the purpose of such an investment trust. The idea behind the trust is that it allows traditional, stock market investors access to cryptocurrencies, without needing to concern themselves with the technical issues surrounding, buying, holding, and selling them. Additionally, by purchasing shares in the trust, tax compliance issues are simplified by making ownership no different than that of any other stock or bond. According to official sources , one share of the ETC trust will represent just under one unit of ETC, about 0.9844 ETC per share. Comparing this to the companys current Bitcoin Investment Trust (OTCQX: GBTC ), where shares are currently trading at just over $850 each, individual units of the ETC trust will represent more units of ETC per share. Shares in the Bitcoin Investment Trust represent 0.09 units of BTC per share. The ETC trust also levies a three percent annual fee, which includes a one percent development contribution fee, and the Bitcoin trust has a Continue reading >>

Ethereum Investment Trust In The News

Ethereum Investment Trust In The News

Ethereum Investment Trusts shares are among the first securities solely invested in and deriving value from the price of ETH. Ethereum Investment Trust enables investors to gain exposure to the price movement of ETH through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping Ethereum. Shares track the ETH market price, less fees and expenses* Transfer Agent: Continental Stock Transfer & Trust * Ethereum Investment Trust does not currently operate a redemption program and may halt creations from time to time. The Trust may, but will not be required to, seek regulatory approval to operate a redemption program. Titled, auditable ownership through a traditional investment vehicle Ethereum Investment Trust is a traditional investment vehicle with shares titled in the investors name, providing a familiar structure for financial and tax advisors and easy transferability to beneficiaries under estate laws. Shares of Ethereum Investment Trust are eligible to be held in certain IRA, Roth IRA, and other brokerage and investor accounts. Supported by a network of trusted service providers Davis Polk & Wardwell LLP serves as legal counsel to the Sponsor of Ethereum Investment Trust. Financial statements for Ethereum Investment Trust are audited annually by Friedman LLP. The private keys for Ethereum Investment Trusts assets are maintained with Ledger SAS and protected by intense multi-factor security procedures. Ethereum Investment Trusts shares are among the first securities solely invested in and deriving value from the price of ETH. Ethereum Investment Trust provides a secure structure to gain exposure to the price performance of ETH. Past performance is not necessarily indicative of future results. * ETH Holdings per Share is calculated d Continue reading >>

Ethereum Classic Fund Goes Live, Ethereum Etf Launch Edges Closer

Ethereum Classic Fund Goes Live, Ethereum Etf Launch Edges Closer

Ethereum Classic Fund Goes Live, Ethereum ETF Launch Edges Closer Grayscale Investments has officially made the ETC Investment Trust available to investors, publishers of Coindesk among them. Grayscale Investments has officially made the long awaited Ethereum Classic Investment Trust available to investors on the market. The firm announced on Wednesday that the fund is live for accredited investors. The fund is not the first offer from the firm. Barry Silbert introduced a similar fund for Bitcoin tracked shares as early as in 2013. The fees differ though. While the Bitcoin Trust has an annual fee of two percent, the new Ethereum Trust is at three percent this includes a one percent development contribution that Silbert announced. This will go to development and marketing of the currency for the first three years. 1/ ANNOUNCEMENT: 1/3 of @EthereumTrust mgmt fee will be donated to Ethereum Classic development, marketing & community activities for 3 yrs Grayscale (@GrayscaleInvest) March 31, 2017 The initial capital comes from Silbert himself, Digital Currency Group and Glenn Hutchins who is the co-founder of private investment company Silver Lake . When the fund was initially announced, some within the community raised questions about a possible conflict of interest, or rather the influence of the fund via Digital Currency Group. DCG has business interests in news provider CoinDesk. The trust was announced to the public in early 2016 and immediately caused waves in the ETC market, which was depressed since the fork of Ethereum/Ethereum Classic. The anticipation of the fund going live has already caused a surge of over 200 percent over eight weeks for the $419.1 mln market capital of ETC. Were excited about the Ethereum Classic, as opposed to Ethereum because ETC has a fi Continue reading >>

Grayscale Launches Fund For Top Cryptos (eth Included)

Grayscale Launches Fund For Top Cryptos (eth Included)

Grayscale Launches Fund for Top Cryptos (ETH Included) Feb 7, 2018 at 16:01 UTC|UpdatedFeb 8, 2018 at 09:00 UTC The creator of the Bitcoin Investment Trust is today launching its fourth fund aimed at giving accredited investors a way to explore cryptocurrencies. Unlike Grayscale's previous funds, which focus on bitcoin , ethereum classic and zcash , the offering, formally called the Digital Large Cap Fund , is designed to give investors exposure to the five largest cryptocurrencies based on market capitalization. At launch, the fund's shares will be solely invested in a basket of crypto assets that will initially include bitcoin (BTC), ether (ETH), ripple (XRP), bitcoin cash (BCH) and litecoin (LTC). The decision to include new currencies, and to sidestep other cryptocurrencies that are already offered by Grayscale, was based on the total value of the assets, according to Grayscale managing director, Michael Sonnenshein. "Investors are looking for broad market exposure to the digital currency asset class," said Sonnenshein, in interview today. "This gives them the ability to make a singular investment that is going to give them exposure to approximately 70 percent of the market via this one vehicle." Investors will buy shares in the private placement investment vehicle, which is backed by actual cryptocurrency, valued at 4:00 p.m. EST. The valuation will be based on the Digital Asset Reference Rate provided by institutional trading technology firm, TradeBlock. Each digital asset will be evaluated, less the fund's expenses and other liabilities. To account for changes in cryptocurrency market caps, it will be rebalanced on a quarterly basis, potentially removing existing digital assets and adding new assets. The fund is a passive investment vehicle that is not actively Continue reading >>

Zcash Investment Trust Launches, Expanding Investor Options For Cryptocurrency Exposure

Zcash Investment Trust Launches, Expanding Investor Options For Cryptocurrency Exposure

ZCash Investment Trust Launches, Expanding Investor Options For Cryptocurrency Exposure Its now possible for some investors wealthy ones to obtain exposure in traditional, tax-advantaged investment accounts to hot privacy coin Zcash. Thursday, Grayscale Investments, LLC , the asset managersponsoring investment vehicles for two of the top cryptocurrencies, Bitcoin and Ethereum Classic, launches the Zcash Investment Trust, the only security invested solely in Zcash, which launcheda year ago and now sports a price of $250 and a market capitalization of $650 million. The company behind Zcash, Zerocoin Electric Coin Company , already counts JPMorgan Chase as a customer , indicating the value financial institutions may see in technology that can take advantage of a distributed ledger without revealing key details of the trade, such as who the sender and recipient are and the value of the transaction. Barry Silbert, CEO of Digital Currency Group , Grayscale's parent firm, said, "This year has demonstrated that digital currency is a new asset class investors are excited about that is not correlated with other asset classes. By expanding the universe of products to invest in this asset class, we think well bring new investors in." The company chose Zcash for its third digital currency investment product because we are excited about the potential for a privacy-focused digital currency and blockchain," said Silbert. "Theres a lot of utility and demand for that. The firm had also found high investor interest in a traditional security based on Zcash that could be held in IRAs and 401(k)s. As a passive investment vehicle, the Zcash Investment Trust aims to reflect the value of the amount of Zcash held by the Trust -- with each share representing 0.1 Zcash. At 4pm Eastern Time, it ca Continue reading >>

Merrill Lynch Bans Customers From Investing In Barry Silberts Bitcoin Investment Trust

Merrill Lynch Bans Customers From Investing In Barry Silberts Bitcoin Investment Trust

Merrill Lynch Bans Customers From Investing In Barry Silberts Bitcoin Investment Trust A Merrill Lynch memo informs brokers and clients that the Wall Street brokerage has stopped approving orders for the Bitcoin Investment Trust. As reported by Reuters , Bank of America Merrill Lynch stopped processing orders for the Bitcoin Investment Trust nearly a month ago, on December 8, per a memo that has recently come to light. In the internal memorandum, sent to approximately 17,000 brokers at Merrill Lynch and Merrill Edge, a trading sub-unit where clients manage their own trades, the company purportedly justifies the ban due to concerns about the "suitability and eligibility standards of this product." The Bitcoin Investment Trust trades under the ticker symbol GBTC and is managed by Grayscale Investments, a subsidiary of Barry Silbert's Digital Currency Group. Silbert a long-time financier who cut his teeth on Wall Street as an investment banker for Houlihan Lokey Howard & Zukin founded Digital Currency Group in 2015 to oversee his multi-pronged foray into the budding cryptospace. Recently , Silbert has come under fire for what some believe to be excessive hype pumping of cryptocurrencies for personal gain. Shares in Bitcoin Investment Trust rose 1,550 percent last year which actually surpassed bitcoin's own 1,300 percent gains. Although many details remain shrouded regarding the motivation behind Merrill's internal memo, there is a possibility that the financial risk associated with bitcoin was compounded by the risk associated with Silbert's reputational capital. In an email to Reuters, Silbert defends himself while somewhat unwittingly acknowledging the fact that Merrill has singled out his firm for exclusion. Per the email: "We look forward to speaking with Merrill Lync Continue reading >>

Grayscale Opens New Fund Tied To 5 Top Cryptocurrencies

Grayscale Opens New Fund Tied To 5 Top Cryptocurrencies

The company that launched Bitcoin Investment Trust ( GBTC ), the first publicly traded stock to offer exposure to the price of bitcoin, is at it again. Grayscale Investments has launched the Grayscale Digital Large Cap Fund, a fund that provides exposure to the top liquid digital assets, through a market cap-weighted portfolio, according to the company. Barry Silbert, CEO of Grayscale Investments, speaks at an NYDFS virtual currency hearing in New York on January 28, 2014. (REUTERS/Lucas Jackson) At launch, the fund comprises these five cryptocurrencies: bitcoin, ether, ripple, litecoin, and bitcoin cash. The fund will be rebalanced every quarter. Grayscale CEO Barry Silbert revealed the new fund live on stage at the Yahoo Finance All Markets Summit: Crypto on Wednesday. Portfolio weighting of Grayscales new Digital Large Cap Fund (Grayscale) The Digital Large Cap Fund is the fourth such investment fund from Grayscale; it launched the Bitcoin Investment Trust in 2015 as a way for people to get exposure to the price of bitcoin without having to go through the technical steps of buying actual bitcoin. Last year, Grayscale launched the Ethereum Classic Investment Trust and Zcash Investment Trust. Digital Large Cap Fund is a broader basket than those three vehicles. And certainly the five cryptocurrencies in the fund at launch are the five biggest household names in crypto for the time being. Four of these five are also all offered on the mainstream brokerage Coinbase all except ripple. People dont know or care which coin will win, Silbert tells Yahoo Finance. They just want to be in this asset class. We have people who want to put $100 million into this. For the first year, Digital Large Cap Fund will be solely available to SEC-accredited investors (annual income of $200, Continue reading >>

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