News From The Crypto Currencies Scene

Grayscale Establishes Ethereum Classic Private Fund

Grayscale Establishes Ethereum Classic Private Fund

Born out of the Bitcoin hard fork in July 2016, Ethereum Classic has not only survived to this day but has reached the fourth-largest digital currency trading volume on the Poloniex exchange. Thus, the cryptocurrency definitely has a tangible investment potential.

Grayscale are launching an Ethereum Investment Trust (EIT) that will benefit investors in the altcoin based on fluctuations of its price. According to the company, ETC’s biggest competitive advantage is its immutability which makes it comparable to the “digital gold” known as Bitcoin.

Ethereum Classic follows a new monetary policy as per which the block reward is decreased by 20% at number 5,000,000, with further 1/5 reductions to be applied every 5,000,000 blocks.

The total supply of ETC is not projected to exceed 230 million ETC, contrary to ETH whose quantity grows on an annual basis.

Grayscale also have plans for a Bitcoin Investment Trust (BIT), and an application for it has already been filed with the Securities and Exchange Commission (SEC). Regulatory approval is key for ensuring sustainable investor interest in cryptocurrencies.

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