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How To Buy Ethereum Classic Investment Trust

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 >>

Ethereum Classic Community

Ethereum Classic Community

Vitalik Buterin and The Ethereum Foundation create the first blockchain-based turing-complete smart contract platform Slock.it construct TheDAO Ethereum Contract; a security audit is completed by Dejavu TheDAO smart contract is deployed; members of the public send it value in return for DAO tokens Slock.it announce a $1.5 Million USD proposal, paid in Ether by the crowdfund, 'to guarantee the integrity of The DAO' On the last day of the crowdsale, DAO curator Vlad Zamfir calls for a moratorium on TheDAO, citing many game-theoretical security issues The crowdsale completes to become the world's largest and raising an incredible $150 Million USD Peter Vessenes publicly discloses the existence of a critical security vulnerability overlooked in many Solidiy contracts Stephan Tual publicly claims that TheDAO funds are safe despite the newly-discovered critical security flaw Ether is slowly and silently drained from TheDAO as the re-entry bug is applied The price of Ether is slashed in half as Griff Green announces that TheDAO has been hacked TheDAO's splitting mechanism gives around a month for a solution to be found that recovers the funds; Foundation and community developers race to implement a soft fork A group of 'white-hat' hackers secure 70% of TheDAO funds but protocol-level action is required to save the remaining 30% split by the hacker The Ethereum Foundation releases a 'Soft Fork' client to censor transactions coming from the hacker; mining pools vote to enable it by lowering gas limit Critical Denial of Service flaws are found in the Soft Fork implementation, miners quickly decide not to use it Many days of intense arguing goes on in the Ethereum community about the pros and cons of implementing a Hard Fork The only remaining option is a controversial Hard Fork. 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 >>

Ex-banker Cheerleads His Way To Cryptocurrency Riches

Ex-banker Cheerleads His Way To Cryptocurrency Riches

Ex-banker cheerleads his way to cryptocurrency riches DIGITAL VISION: Barry Silbert, an early enthusiast of bitcoin, set against a montage of some of his tweets about another cryptocurrency, ethereum classic. Cryptocurrency cheerleader sees assets soar thanks to coins he extols Barry Silbert invested early in ethereum classic and enthuses in public about the virtual currency, which has recently risen in price even more than bitcoin. Some securities lawyers say his posts on social media could raise red flags for regulators. HONG KONG/NEW YORK/LONDON Seventeen months ago, a former Wall Street investment banker who specialized in distressed assets took to Twitter to announce he had bought a cryptocurrency for 50 cents per coin. At $0.50, risk/return felt right, tweeted Barry Silbert, founder and chief executive of a private New York-based company called Digital Currency Group, or DCG. It has turned out to be a great bet. The digital coin, ethereum classic, was trading this week at as much as $47 more than 90 times higher before falling back.Thats an even bigger rise than that of bitcoin, a far better known cryptocurrency, over the same period. Silbert continues to be a big backer. In April, a DCG subsidiarylaunched a private investment fund that tracks ethereum classics price and donates part of its fees to developing the technology behind the currency. He still posts bullish comments about the digital coin on social media, including a pro tip last month advising an investor to close out his short position before an Ethereum Classic Summit organized by DCG was held in Hong Kong. On Dec. 12, Silbert tweeted that three cryptocurrency funds the DCG subsidiary offersnow had more than $3 billion of assets under management up from $164 million at the start of the year. Silberts 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 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 >>

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 >>

Is Ethereum Classic (etc) A Good Investment?

Is Ethereum Classic (etc) A Good Investment?

Is Ethereum Classic (ETC) a Good Investment? > Is Ethereum Classic (ETC) a Good Investment? Ethereum classic has emerged as one of the most popular altcoins since its big brother ether executed a hard fork on the blockchain after theDAO hack in July 2016. During a little under a year of its existence, ethereum classic, which carries the ticker ETC, has managed to rally from under $1 to over $20 and has positioned itself within the top five largest cryptocurrencies in the market. You cannot talk about Ethereum Classic without talking about Ethereum first. Ethereum is a public open-source blockchain network that allows for the creation of smart contracts and decentralized apps (DApps). It was first proposed in 2013 by its founder Vitalik Buterin and went live in July 2015 after a successful ether token sale in July/August 2014. Ethereums digital token ether (ETH)has emerged as the second most popular cryptocurrency after bitcoin with a market capitalization of over $35 billion. The price of ether stands $370 at the time of writing, which also makes it the fourth most valuable cryptocurrency after bitcoin, Zcash, andByteball. The Hard Fork That Created Ethereum Classic In April 2016, theDecentralized Autonomous Organization (DAO)was launched to act as a decentralized venture capital fund for cryptocurrency projects. It was built as a complex smart contract on the Ethereum blockchain and was meant to allow investors to vote on proposed projects that would then receive funding through the DAO. During its 28-day crowdfunding campaign, the DAO managed to raise $168 million dollars worth of ether and became the most successful cryptocurrency crowdsale to this day. However, there was a vulnerability in the DAO smart contract, which allowed a hacker to steal a substantial amount 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 >>

Investfeed Edge - Cryptocurrency News Powered By Investfeed

Investfeed Edge - Cryptocurrency News Powered By Investfeed

Grayscale Investments in Process of Securing Public Quote for Ethereum Classic Investment Trust Shares Grayscale Investments, LLC, has officially announced that theyre currently seeking to obtain a public quotation for their Ethereum Classic Investment Trust shareson the OTCQX market. According to the release, theyve signaled for their intent to engage a sponsoring broker-dealer to file Form 211 with FINRA which is a requirement to secure a public quotation. Grayscale has once again turned to Orrick Herrington & Sutcliffe LLP for their securities counsel and OCTQX advisor, and Friendman LLP as the Trusts auditor as they did for their Bitcoin Trust . According to Grayscales website , the Ethereum Classic Investment Trust is a way in which traditional investors can gain exposure to the price fluctuations of Ethereum Classic (ETC/USD) through a traditional investment vehicle. Purchasers of shares in the Trust also would not have to worry about the complexities that come with storing cryptocurrency, as the Trust takes care of that. The Ethereum Classic Investment Trust was originally announced back in 2016, and was the second Grayscale cryptocurrency based Trust offering to surface. The first Trust established by Grayscale was their Bitcoin Trust (OTCQX: GBTC) back in 2013. The major difference between the two came from the Bitcoin Trust imposing a 2% annual fee, while the Ethereum Classic Trust is to impose a 3% fee. The extra percent would fund Ethereum Classic development, marketing, and community activity for three years . As of October 13th, Grayscale now controls over $1 billion in assets under their management between their Bitcoin and Ethereum Classic Trusts. This news comes right after Grayscale announced the launch of their Zcash Investment Trust just last week. 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 >>

Grayscale Opens Zcash Trust For Large Investments

Grayscale Opens Zcash Trust For Large Investments

Grayscale Opens ZCash Trust for Large Investments The ZCash Investment Trust has applied with the SEC and may begin drawing investments larger than $10,000. The fund expands the portfolio of Grayscale Investments, which already pools funds into Bitcoin and Ethereum Classic. An investment trust based on anonymous cryptocurrency ZCash has filed with the US Securities and Exchange Commission. The document, still under review by the SEC, is from October 25. If the fund receives a green light, it will be a similar investment vehicle to the Bitcoin Investment Trust, and thus expand the portfolio of Grayscale Investments . The fund already reported sales of $11,613,807, the proceeds used to buy ZCash, which would be held by the investment vehicle. The filing seeks permission for the creation of a "pooled investment fund". The fund is targeted toward larger investors. In exchange for the investment, buyers would not hold ZCash outright. Currently, $10,000 would buy around 40 ZEC coins, if bought on a cryptocurrency exchange. But fund investors may not have the necessary knowledge to acquire and hold the funds safely. ZCash has been a project targeting larger investors since its start in 2016. After the initial coin release, the price fell to around $100, and since then the growth has been tame by cryptocurrency standards, reaching a peak around $400 before sliding back to around $245. ZCash is traded most actively on Bitfinex, an exchange that is leaving behind US customers, due to stricter regulations. ZCash was also made available on BitHumb, the leading Korean exchange- but for US-based investors, the Grayscale Investments vehicle may be much more convenient. Currently, Grayscale Investments gives access to funds investing in Ethereum Classic and Bitcoin. The funds are trad Continue reading >>

Grayscale - Bitcoin & Ethereum Classic Investment Trust

Grayscale - Bitcoin & Ethereum Classic Investment Trust

A trusted authority on digital currency investing, Grayscale provides market insight and investment exposure to the developing digital currency asset class. In this next wave of the digital revolution, digital currencies are emerging as what many believe to be the greatest innovation since the advent of the internet. For the first time in history, value can be sent anywhere in the world at the same speed as information, in a secure and trustless way. A departure from conventional economic, political, and social systems run by a handful of large centralized institutions, digital currencies are powered by millions of peers within a globally distributed network, democratizing information and value in incredible new ways. Several digital currencies, each with unique comparative advantages, may radically transform legacy systems across nations and industries around the world, driving future economic growth and becoming more valuable as the keys to our digital, global economy. At Grayscale, we believe investors deserve an established, trusted, and accountable partner that can help them navigate digital currency investing. Thats why we are building transparent, familiar investment products that facilitate access to this burgeoning asset class, and provide the springboard to investing in the new digital currency-powered internet of money. Supported by a network of trusted service providers Titled auditable ownership through traditional investment vehicles 2017 GRAYSCALE INVESTMENTS LLC Terms of Service / Privacy Policy Grayscale Investments, LLC is the sponsor of the Bitcoin Investment Trust (the BIT), the Ethereum Classic Investment Trust (the ETC Trust), and the Zcash Investment Trust (the ZEC Trust and, together with the BIT and the ETC Trust, the Trusts and each a Trust). Continue reading >>

Cryptocurrency Investments #2 Ethereum Classic (etc)

Cryptocurrency Investments #2 Ethereum Classic (etc)

Why it is wise to invest in Ethereum Classic? As it is clear from a Crypto Decentralist Manifesto ETC is going into different direction in comparison with ETH. That direction sustains the main principle of initial Ethereum project - Code is Law. While it is pure ideology most of investors should look into development and team behind it before making investment decisions. While the price of Ethereum project tokens lead by Vitalik Buterin is going through the all time highs and new partnerships were announced, what we can expect from Ethereum Classic? I will give you a 4 main reasons why Ethereum Classic tokens should find place in any crypto investment portfolio: Effective roadmap and full time working team of software engineers and professionals in software development. Usage and adoption of Ethereum Classic. Recently, it was stated that BitTicket Uses Ethereum Classic to Book Tickets on a Blockchain: . Dapps. While we know Ethereum use cases and dapps in development it is not the same about Ethereum Classic. However, development of EMERALD SDK (An official desktop wallet, and a flexible SDK to build custom applications on top of Ethereum Classic blockchain) signals that ETC dev team is in favourable direction to attract first developers to build on ETC blockchain. When it happens the price of ETC will shoot up considerably. U.S. investment firm Grayscale Investments has launched $10 mln ethereum classic private fund: . Private investment funds, such as Grayscale in cryptocurrency, helps to attract institutional investors or those who are not willing to own ETC tokens themselves but instead of that are buying shares: "The Ethereum Classic Investment Trust enables investors to gain exposure to the price movement of ETC through a traditional investment vehicle, without t Continue reading >>

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