Ethereum Classic Investment Trust listed on OTC marketplace (OTCQX) | Grayscale Investments Announces Approval of Public Quotation for Eligible Shares of Ethereum Classic Investment Trust
Retail investors can now buy the Ethereum Classic Investment Trust which means Ethereum Classic (ETC) can now be bought as an ETN (ticker ETCG), similar to way you can buy bitcoin thru GBTC. It looks like premium is 30-40% over current price of Ethereum Classic. This and GBTC are the only two publicly traded vehicles in cryptocurrency like this. Year from now who knows, how many cryptocurrencies will be available on OTC marketplace (OTCQX).
ETCG is going to give equity traders a new way to access crypto and will give them an angle on “Altcoins” which should be plenty of daily demand for this one and with Ethereum Classic being a thinner crypto, it will likely have meaningful impact on it.
As of April 30, 2018, each share of the trust represents ownership of 0.96988630 Ethereum Classic. The trust will not generate any income and regularly sells/distributes Ethereum Classic to pay for its ongoing expenses.
That is why, the amount of Ethereum Clasic represented by each share gradually declines over time.
Ethereum Classic development is on fire. ETC hard fork is coming as well that will deal with the difficulty bomb that will ensure that mining ETC is still profitable in coming months.