Barry Silbert, founder and CEO of Digital Currency Group and Greyscale Investments indicated today that he may be launching an ETC Investment Trust. Before taking steps to launch it, he’s waiting for the Ethereum Classic monetary strategy to finalize, as well as a plan regarding the mining.
The Ethereum Classic roadmap plans on keeping proof-of-work mining as the main way of securing transactions. There’s also a possibility that it may take a hybrid approach alongside proof-of-stake. This strategy differs for Ethereum, which is planning on going pure proof-of-stake. Keeping ETC mining as proof-of-work may be bullish because they’ll absorb many of the ETH miners once they make the switch.
Bitcoin Investment Trust
Greyscale has already launched a Bitcoin Investment Trust traded on the OTC markets. The trust has $102.77M under asset management and allows institutional investors to purchase shares worth 0.1 BTC each.
These types of investment vehicles come with several advantages, such as being able to purchase bitcoin with a retirement account. It also makes it easier for institutional investors to get exposure to bitcoin.
Greyscale Investments already offers bulk 25,000 ETC purchases through their OTC subsidiary Genesis Trading.
Ethereum Classic Fundamentals
Ethereum Classic is the old Ethereum blockchain before they hard forked to bail-out DAO investors. The project aims to keep the original Ethereum social contract of an immutable blockchain alive.
Although Ethereum Classic stems from the same source, the developers and community are in the process of creating its own unique roadmap. Some of the key components are keeping it a proof-of-work blockchain, as well as limiting the overall supply.
Just like Ethereum, Classic is a turing complete blockchain that allows developers to build smart contract applications.