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Qadir Ak is the founder of Coinpedia. He has over a decade of technical writing experience, covering the blockchain and cryptocurrency space since 2010. He also interviewed some well-known experts in the cryptocurrency space.
September 2022 January 17
Digital Asset Management Company Greyscale Investment has announced its massive plans to sell all 3.1 million Ethereum proof-of-work tokens. Grayscale Ethereum Trust and Grayscale Digital Large Cap Fund received after Ethereum was updated from Proof of Work to Proof of Stake.
Both the Fund and the Trust transfer the token rights to Greyscale Investments, who will sell further within 180 days. Profits will be distributed to all shareholders. According to Greyscale, the lack of liquidity in the ETHPoW market was the reason for the decision to sell. Due to the incredible volatility of the coin, it is difficult to predict how much the company will gain from the sale.