GrayScale Funding has introduced plans to promote ETHPoW tokens it gained from the PoW hard-fork following Ethereum’s transition to proof-of-stake (PoS).
Two budget owned via GrayScale Funding gained a cumulative sum of three,100,629 ETHPoW tokens. Grayscale Ethereum Agree with(ETHE) gained roughly 3,059,976 ETHPoW tokens, whilst Grayscale Virtual Massive Cap Fund (GDLC) gained 40,653 ETHPoW tokens.
The ETHE and GDLC budget will switch possession in their ETHPoW tokens to Grayscale Funding via the shut of commercial on Sept. 26. Grayscale Funding is anticipated to retain custody of the tokens till it is in a position to promote them.
Our budget $ETHE & $GDLC have passively gained the rights to forked ETHPoW tokens. To the level it’s practicable, we can glance to promote those tokens & distribute internet money proceeds to file date shareholders.
Learn our unencumber for vital main points: https://t.co/0subq36to0
— Grayscale (@Grayscale) September 16, 2022
If trade list and deep liquidity are evolved for ETHPoW tokens, Grayscale will transfer to promote its holdings and redistribute the proceeds to shareholders.
Grayscale added that it isn’t in a position to resolve the price of the ETHPoW tokens as little liquidity has been created for buying and selling throughout crypto exchanges.
Spot buying and selling opened for ETHW token
In a while after the merge, a number of primary crypto exchanges introduced spot buying and selling for EthereumPoW (ETHW) token.
FTX introduced its spot buying and selling for ETHW and thus far has performed $28.7 million price of trades. Different exchanges that experience opened spot buying and selling for ETHW tokens come with Bybit, MEXC World, Bitfinex, Kraken, and Huobi.
OKX moved to release USDT-marginal perpetual buying and selling for ETHW. In step with Coinmarketcap information, OKX is dealing with 38.19% of ETHW buying and selling, which quantities to roughly $39.7 million.
As of press time, ETHW’s value is buying and selling at $11, indicating an over 80% fall from its 24-hour top of $60.68.