{"id":67306,"date":"2022-09-17T10:33:30","date_gmt":"2022-09-17T07:33:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67306"},"modified":"2025-09-07T05:55:38","modified_gmt":"2025-09-07T02:55:38","slug":"grayscale-to-sell-ethw-tokens-obtained-after-ethereum-pow-fork-launch","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/grayscale-to-sell-ethw-tokens-obtained-after-ethereum-pow-fork-launch\/","title":{"rendered":"Grayscale to sell ETHW tokens obtained after Ethereum PoW fork launch"},"content":{"rendered":"<p>Digital asset manager Grayscale Investments will sell ETHW, the cryptocurrency obtained after the Ethereum fork on the Proof-of-Work (PoW) consensus algorithm. The proceeds will be distributed among the shareholders of the Ethereum Trust (ETHE) and the Digital Large Cap Fund (GDLC).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Our funds <a href=\"https:\/\/twitter.com\/search?q=%24ETHE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETHE<\/a> &#038; <a href=\"https:\/\/twitter.com\/search?q=%24GDLC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GDLC<\/a> have passively received the rights to forked ETHPoW tokens. To the extent it is practicable, we will look to sell these tokens &#038; distribute net cash proceeds to record date shareholders.<br \/>Read our release for important details: <a href=\"https:\/\/t.co\/0subq36to0\">https:\/\/t.co\/0subq36to0<\/a><\/p>\n<p>\u2014 Grayscale (@Grayscale) <a href=\"https:\/\/twitter.com\/Grayscale\/status\/1570764767668670465?ref_src=twsrc%5Etfw\">September 16, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abOur ETHE and GDLC funds passively received rights to the fork-tokens ETHW. To the extent possible, we will attempt to sell these assets and distribute net profits among the holders on the record date,\u00bb the statement says.<\/p>\n<\/blockquote>\n<p>According to the press release, Grayscale expects to liquidate the cryptocurrency within 180 days of the initiative&#8217;s announcement. After the EthereumPoW blockchain launch, the ETHE trust received more than 3 million ETHW, and GDLC about 40,000 ETHW.<\/p>\n<p>According to the company, the Ethereum Trust manages assets worth more than $4.37 billion and is one of the largest funds in the structure. The Digital Large Cap Fund&#8217;s assets are valued at $190 million.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"542\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/grayscale-6-1024x542.png\" alt=\"Grayscale \u043f\u0440\u043e\u0434\u0430\u0441\u0442 \u043f\u043e\u043b\u0443\u0447\u0435\u043d\u043d\u0443\u044e \u043f\u043e\u0441\u043b\u0435 \u0437\u0430\u043f\u0443\u0441\u043a\u0430 PoW-\u0444\u043e\u0440\u043a\u0430 Ethereum \u043a\u0440\u0438\u043f\u0442\u043e\u0432\u0430\u043b\u044e\u0442\u0443 ETHW\" class=\"wp-image-185160\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/grayscale-6-1024x542.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/grayscale-6-300x159.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/grayscale-6-768x407.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/grayscale-6.png 1277w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Assets under management of Grayscale funds as of September 16, 2022. Source: <a href=\"https:\/\/grayscale.com\/products\/\">Grayscale<\/a>.<\/figcaption><\/figure>\n<p>Back on September 15, 2022, developers <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-pow-fork-developers-could-not-launch-network-immediately\">encountered issues<\/a> due to selecting an incorrect Chain ID that had already been used by the Bitcoin Cash testnet.<\/p>\n<p>According to OKLink, as of September 17, the blockchain is successfully producing blocks. In the last 24 hours the network processed more than 11 million transactions.<\/p>\n<p>According to CoinGecko, at the time of writing ETHW trades near $10.2. Since listing on centralized exchanges, the cryptocurrency&#8217;s price has fallen by almost 75%.<\/p>\n<p>Back in September 15, 2022, developers <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-activates-the-merge-blockchain-shifts-to-pos\">activated The Merge in the Ethereum mainnet<\/a>. The blockchain was switched to the Proof-of-Stake consensus algorithm.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital asset manager Grayscale Investments will sell ETHW, the cryptocurrency obtained after the Ethereum fork on the Proof-of-Work (PoW) consensus algorithm. The proceeds will be distributed among the shareholders of the Ethereum Trust (ETHE) and the Digital Large Cap Fund (GDLC).<\/p>\n","protected":false},"author":1,"featured_media":67307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,2325,943],"class_list":["post-67306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-ethw","tag-grayscale-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=67306"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67306\/revisions"}],"predecessor-version":[{"id":67308,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67306\/revisions\/67308"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/67307"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=67306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=67306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=67306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}