THELOGICALINDIAN - Grayscale Investments is gearing up to barrage a new advance artefact for Ethereum Classic ETC in the aboriginal division of this year This will be the additional advance artefact for the aggregation the aboriginal was the Bitcoin Advance Trust BIT Bitcoincom bent up with Grayscale CEO and architect Barry Silbert to acquisition out added about this new product
Also read: Needham: Probability of Approval for a Bitcoin ETF ‘Very Low’
From BIT to ETC Trust
It has been over three years back Grayscale launched its aboriginal product, the BIT, on September 25, 2013, back the amount of Bitcoin was almost $127.7 and the bazaar cap was alone about $1.469 billion. Modeled on the SPDR® Gold Shares ETF, the Trust was 
created for investors attractive for Bitcoin exposure. By the end of aftermost year, it had $164.21 actor in assets beneath management. The BIT has consistently been a clandestine adjustment for accepted investors, trading over-the-counter. Now, the company, cat-and-mouse to be listed on the NYSE Arca, has accomplished all clandestine offerings but continues to barter on OTCQX beneath the attribute GBTC.
As the BIT begins its adventure abroad from actuality a clandestine agent for alone accepted investors, Grayscale is introducing addition clandestine advance agent alleged the ‘Ethereum (ETC) Advance Trust‘ (EIT). It allows investors to accretion acknowledgment to the amount movements of Ethereum Classic after absolutely owning any ETC.
The ETC Investment Trust
According to Silbert, the new artefact is modeled afterwards the BIT. “It will be an advancing assurance that holds ETC,” he described. As such, the Assurance can affair and redeem shares at any time. Regarding the accommodation to barrage this new Trust, Silbert told Bitcoin.com:
ETC is the newer of the two Ethereum cryptocurrencies consistent from the July 2016 adamantine angle of the Ethereum blockchain. It is “a assiduity of the aboriginal Ethereum blockchain – the archetypal adaptation attention untampered history; chargeless from alien arrest and 
subjective analytical of transactions,” its website describes. While ETC is the aboriginal agreement and has beneath modifications than the added Ethereum cryptocurrency (ETH), abounding of the developers and the association abaft Ethereum accept confused on to ETH.
ETC now trades on several exchanges including Bitfinex and Poloniex. At columnist time, the cryptocurrency is trading at US$1.40, about bisected of its all-time-high amount from anon afterwards the split, with a market cap of about $124.6 million.
For Accredited Investors
Silbert accepted that the EIT “will be launched as a clandestine agent accessible to accepted investor.” The Grayscale website now describes its new artefact aloof as it did with the BIT, advertence that:
The Balance Act of 1933 mandates all companies to annals any balance with the SEC that they are alms or selling. However, there are some exemptions such as one 
provided by Regulation D (Reg D) which allows a aggregation to advertise its balance to accepted investors after registering with the Commission by filing Form D, ‘Notice of Exempt Alms of Securities’.
There are abounding means to authorize as an accredited investor. For example, anyone with a net account beyond $1 actor or with an assets of added than $200,000 in the two best contempo years and analytic expects the aforementioned for the accepted year, is qualified.
While there is abundant to do afore ablution the EIT, Silbert said the aggregation is “Planning to barrage in Q1,” abacus that they are “waiting for the budgetary action (supply cap) to get finalized.”
What do you anticipate of the ETC Trust? Let us apperceive in the comments area below.
Images address of Shutterstock, SEC, Grayscale, Ethereum Classic
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