Investors Can Now Trade a New Crypto ETP Based on Ethereum Hard Fork | Crypto

Investors Can Now Trade a New Crypto ETP Based on Ethereum Hard Fork

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– ETC Group launches new Ethereum ETP in response to the upcoming Ethereum Merge.
– The Ethereum Merge is a long-awaited consensus upgrade that is set to move the Ethereum blockchain from mining-based PoW to mining-free proof-of-stake (PoS).
– ETC Group’s new Ethereum ETP will rely on a forked PoW Ethereum chain, representing a group of miners opposing Ethereums switch to PoS.
– The new Ethereum ETP will have a new token called ETHW, which will provide a basis for ETC Groups new physically-backed ETP called ETC Group Physical EthereumPoW, or ETHWetc.
– ETHWetc is expected to list on Deutsche Boerses electronic trading platform, Xetra, under the ticker symbol ZETW.
– ETC Group’s representatives reached out to Cointelegraph to clarify that “ZETH will continue just as before and automatically switch to ETH PoS in line with The Merge.”
– Bradley Duke, founder and co-CEO of ETC Group, pointed out that benefitting from hard forks to the underlying cryptocurrencies is the original vision and commitment of the firm.
– The news comes amid the crypto industry actively preparing for the upcoming Ethereum Merge, with various companies seeking new mining options or launching Ethereum staking.
– On Wednesday, Swiss-regulated crypto platform SEBA Bank enabled Ether (ETH) staking services for institutional investors.
– Canadian crypto miner Hive Blockchain also announced on Tuesday that it has been working to replace the mining of ETH with other mineable coins in the event of Ethereums transition to PoS.

Investors Can Now Trade a New Crypto ETP Based on Ethereum Hard Fork

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