News From The Crypto Currencies Scene

Barry Silbert to Launch Ethereum Classic Trust

Barry Silbert to Launch Ethereum Classic Trust

Ethereum Classic is a cryptocurrency fund born out of the hard fork that is expected to be launched by blockchain investor Barry Silbert until the end of March.

The project is said to resemble the existing Bitcoin Investment Trust in structure but will be exclusively based on Ethereum Classic tokens. In addition, only investors meeting particular criteria will be granted access to the fund.

The Ethereum Classic virtual currency was very popular immediately after its market debut but now stands at 7th place in terms of total market capitalization. However, the launch of the Ethereum Classic Trust is expected to boost its performance at least in the short run.

According to Silbert, the new trust might begin unrestricted trading soon in order to attract more investment and increase the cryptocurrency’s value.

At the same time, the Bitcoin Investment Trust is awaiting authorization to be listed on the NYSE Arca Market.

Ethereum Classic is not the only virtual currency project Barry Silbert has a stake in. It is believed that ZCash will soon follow suit with a trust of its own because it has also been supported by the blockchain investor.

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