🚨 Open Letter to Grayscale
@Hedgeye @EricBalchunas @JSeyff @TheCryptoLark
@EthClassicDAO 🚨
Over $84M (63%) in Trapped
$ETCG Shareholder Value
ETCG continues trading at a steep discount to its NAV of ETC holdings — It's time for an ETF application or redemption program to deliver NAV.
🔹 ETF momentum is here: SEC reviewing many
@OspreyFunds,
@ProSharesETF,
@bitwise, and
@CanaryFunds filings for ETFs on tokens like
$BONK (#62 in Mkt Cap),
$DOGE,
$HBAR (#18) and
$TRUMP (#34) —
$ETC (#37) is a prime candidate
🔹 Grayscale's ETCG AUM: $219M—Larger than
$GSOL ($101M) &
$LTCN ($206M), both moving toward ETF approval with the SEC
🔹 ETC is an Ethereum fork — Already precedent for the underlying tech w/ approved
$ETH ETFs
🔹 ETCG has years of OTC trading & SEC reporting history, yet hasn’t traded at a premium since May 4, 2021—an extreme outlier in Grayscale’s lineup
Who thinks it's time for
@Grayscale to deliver on its ETCG investment objective by reflecting ETC value for shareholders?
13.994M Shares * $9.59 ETCG share value = $134.2M
13.994M Shares * $15.65 ETC NAV per share = $219.0M
$84.8M difference / $134.2M = 63.2%
#CryptoETF #EthereumClassic #ETCG #Bitcoin #Ethereum #Grayscale
grayscale.com/crypto-product…