German Stock Exchange Xetra lists ETHPow ETP - Invest in the ethereum fork.
9/7/2022, 04:59 PM
The crypto industry is actively preparing for the upcoming Ethereum Merge, with various companies seeking new mining options or launching Ethereum staking. ETC Group is one of these companies, and has announced the launch of a new Ethereum ETP based on a forked PoW Ethereum chain. This ETP, called ETHWetc, is expected to list on Deutsche Boerse's Xetra platform under the ticker symbol ZETW.
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 Ethereum's switch to PoS. The PoW chain will have a new token called ETHW, which will provide a basis for ETC Group's new physically-backed ETP.
According to the announcement, ETHWetc is expected to list on Deutsche Boerse's electronic trading platform, Xetra, under the ticker symbol ZETW. ETC Group noted that the firm anticipates the listing to occur shortly following the fork event on Sept. 16. ETC Group also said that ZETW will automatically replace the original ETC Group Physical Ethereum (ZETH) on a 1:1 unit basis on brokerage accounts.
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.
In line with this, any holders of ETC Group's Ethereum-based ETP will receive, at no cost, matching units of the new Ethereum PoW ETP soon after the Ethereum hard fork occurs. Duke believes that it is only right that investors in ETC Group's products should receive the proceeds of the fork.
The news of ETC Group's new Ethereum ETP comes amid the crypto industry actively preparing for the upcoming Ethereum Merge. On Wednesday, Swiss-regulated crypto platform SEBA Bank enabled Ether (ETH) staking services for institutional investors.
The institutional-grade offering allows clients to generate rewards based on their Ether holdings on a monthly basis, the bank said in a statement. 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 Ethereum's transition to PoS.
Check the press release directly on the website of ETC Group.
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 Ethereum's switch to PoS. The PoW chain will have a new token called ETHW, which will provide a basis for ETC Group's new physically-backed ETP.
We believe that it is only right that investors in our products should receive the proceeds of this fork.- Bradley Duke, co-CEO ETC Group
According to the announcement, ETHWetc is expected to list on Deutsche Boerse's electronic trading platform, Xetra, under the ticker symbol ZETW. ETC Group noted that the firm anticipates the listing to occur shortly following the fork event on Sept. 16. ETC Group also said that ZETW will automatically replace the original ETC Group Physical Ethereum (ZETH) on a 1:1 unit basis on brokerage accounts.
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.
In line with this, any holders of ETC Group's Ethereum-based ETP will receive, at no cost, matching units of the new Ethereum PoW ETP soon after the Ethereum hard fork occurs. Duke believes that it is only right that investors in ETC Group's products should receive the proceeds of the fork.
The news of ETC Group's new Ethereum ETP comes amid the crypto industry actively preparing for the upcoming Ethereum Merge. On Wednesday, Swiss-regulated crypto platform SEBA Bank enabled Ether (ETH) staking services for institutional investors.
The institutional-grade offering allows clients to generate rewards based on their Ether holdings on a monthly basis, the bank said in a statement. 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 Ethereum's transition to PoS.
Check the press release directly on the website of ETC Group.