100% physically backed, this ETC gives you seamless and pure exposure to the performance of ETHW, the forked cryptocurrency of the Ethereum network. ETHetc - ETC Group Physical Ethereum (ZETH) automatically switched to ETH PoS in line with the merge.
Simultaneously, holders of ZETH from before the merge additionally received this newly issued product which tracks the post fork ETH PoW token, on top of their existing holdings of ZETH on a 1:1 basis, in order to benefit from the fork event.
This approach was put in place in line with our commitment to transparency and maintaining the highest standards for investors. Details are described in the official bondholder notice available at ZETH Pre-Split Notice to Bondholders
We have not and are not endorsing the fork in anyway, but wanted to treat investors in our products with fairness and transparency as they should be entitled to the proceeds of a fork, and we have committed to honouring this promise. At time of launch, we had no idea and expectation as to whether this fork would be successful or not but acted purely to honour our commitments, as per our prospectus, to holders of our physical Ethereum product.
The EthereumPOW (ETHW) are kept in cold-storage at a regulated custodian, and all assets are secured by an independent trustee, thus eliminating issuer default risk.
Investors are legally entitled to the underlying EthereumPOW (ETHW) and can redeem the ETC for the сryptocurrency, alternatively to selling on exchange.
Issued in Germany under German regulatory oversight, the ETC’s primary listing is on XETRA, the largest ETF exchange in Europe.
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BitGo Trust pioneered multi-signature security in 2013 and, since then has become an industry standard in delivering institutional grade security solutions for digital assets.
Being the first qualified custodian purpose-built for holding digital assets, BitGo Trust Company is an independent trust company regulated by the South Dakota Division of Banking, and SOC 2 Type 1 & 2 certified.
All ETC assets are kept in cold wallets. Cold wallets mean that the digital wallets are not connected to the internet. This protects the wallets from hacks, unauthorized access, and other vulnerabilities.
Digital asset are stored using a multi-signature technology and can only be accessed when sharded keys held by separate entities are unities. This creates additional layers of security to protect investor funds.
BitGo's $250 million custody insurance policy protects against third-party hacks, theft or dishonest acts by BitGo employees or executives as well as the loss of keys.