The possible creation of a new investment vehicle is bringing wider attention to the lesser-known digital currency, ether classic.
Teased as a forthcoming offering from Digital Currency Group (DCG) subsidiary Grayscale Investments, the investment vehicle (tentatively named the Ethereum (ETC) Investment Trust) would be a first-of-its-kind product offering exposure to the blockchain-based asset.
Started as a controversial offshoot of ethereum, a blockchain platform for applications launched in 2014, ethereum classic has strived for legitimacy since it was created last summer, often in the face of criticisms that it lacks the promise of its originating project.
In interview, however, analysts suggested that the possible creation of the vehicle, if achieved, would provide investors more means of gaining exposure to ether classic, in turn bolstering demand and placing upward pressure on prices.
Petar Zivkovski, COO of leveraged trading firm Whaleclub, for instance, argued that the potential filing would “without a doubt” bolster the digital currency’s standing if approved.
Zivkovski told CoinDesk:
“A large part of price suppression for any cryptocurrency is the lack of legitimacy and a lack of ‘mainstream’ access, eg: investing through traditional investment instruments. DCG’s Trust would provide both.”
However, among traders, Zivkovski emerged as a minority opinion on the issue.
Read more ... source: CoinDesk
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