ETC Group Says It Will List an Exchange-Traded Product Based on Anticipated ETH Hard Fork

ETC Group Says It Will List an Exchange-Traded Product Based on Anticipated ETH Hard Fork

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by Terence Zimwara
Digital asset-backed securities supplier the And so on Group has stated it is going to checklist an exchange-traded product (ETP) primarily based on an anticipated exhausting fork of the Ethereum blockchain on September 15. Present holders of And so on Group’s ethereum ETP (ZETH) might be issued with “models of the brand new safety freed from cost on a 1:1 unit foundation.”
The And so on Group, a supplier of institutional-grade digital asset-backed securities, has stated it is going to checklist a brand new exchange-traded product (ETP) primarily based on a tough fork of the Ethereum blockchain that’s more likely to happen after the so-called “Merge.” Based on a press release issued by the securities supplier, the ETP might be listed on the German change Xetra on September 16, a day after the forking occasion.
As outlined within the securities supplier’s statement, holders of And so on Group’s present ethereum ETP (ZETH) might 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 might be “along with their present ZETH holdings which can 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, plenty 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 probably receive airdrops of a brand new altcoin known as ETHW.
Explaining the explanations behind the And so on Group’s plan to checklist the ETP, the group’s founder and co-CEO, Bradley Duke, stated:
“After we launched And so on Group, we dedicated to holders of our digital asset-backed securities that they’d profit from exhausting forks to the underlying digital property 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 so on Group had launched a research report explaining The Merge and what’s going to probably occur after September 15. The destiny of ETH miners in addition to the forked chain’s probabilities of succeeding are additionally examined.
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Terence Zimwara is a Zimbabwe award-winning journalist, writer and author. He has written extensively concerning the financial troubles of some African nations in addition to how digital currencies can present Africans with an escape route.

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