Digital asset manager Grayscale Investments has just announced it intends to sell the ETHW it has received following the launch of the Ethereum fork based on the proof-of-work consensus algorithm.
The company has reported the proceeds from the sale will be distributed to Ethereum Trust (ETHE) and Digital Large Cap Fund (GDLC) shareholders.
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According to the press release:
"Our ETHE and GDLC funds have passively acquired the rights to the ETHW fork tokens. To the extent possible, we will seek to sell these assets and distribute the net proceeds to unit holders as of the record date."
According to the press release, Grayscale expects to sell the cryptocurrency within 180 days after the announcement of the initiative. Following the launch of the EthereumPoW blockchain, the ETHE trust received more than 3 million ETHW, and GDLC about 0.04 million ETHW.