After The Merge Grayscale files for rights to ETHPoW tokens

ETHPoW tokens after The Merge

Grayscale files for rights to ETHPoW

Grayscale Investments has the rights to Ethereum Proof of Work tokens as a result of The Merge, and may or may not distribute them to holders in the form of a cash disbursal, the asset manager said in a Securities and Exchange Commission filing on Friday.

ETHPoW, a fork of the proof of work Ethereum chain, went live on Thursday when Ethereum shifted to proof of stake. As a result of the fork, the Grayscale Ethereum Trust and the Grayscale Digital Large Cap Fund received the rights to ETHPoW tokens. The former received the rights to approximately 4 million, while the latter holds rights to approximately 41,000 ETHPoW tokens.

However, it’s not clear how much those assets are worth.

“There is uncertainty as to whether digital asset custodians will support ETHPoW tokens or if trading markets …

Read the full article at The Block

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