Grayscale Investment moves to sell all ETHPOW tokens

Grayscale Investment has announced plans to sell ETHPoW tokens it received from the PoW hard-fork following Ethereum’s transition to proof-of-stake (PoS). Shortly after the Merge on Sept. 15, miners hard-forked Ethereum to launch the Ethereum PoW network. As proposed, ETHPoW tokens were distributed to eligible ETH holders.

Two funds owned by Grayscale Investment received a cumulative sum of 3,100,629 ETHPoW tokens. Grayscale Ethereum Trust(ETHE) received approximately 3,059,976 ETHPoW tokens, while Grayscale Digital Large Cap Fund (GDLC) received 40,653 ETHPoW tokens. The ETHE and GDLC funds will transfer ownership of their ETHPoW tokens to Grayscale Investment by the close of business on Sept. 26. Grayscale Investment is expected to retain custody of the tokens until it is able to sell them.

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