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    Fork: Coinshares Reveals Plans for Physical Ethereum ETP, Traded on SIX, Xetra and EURONEXT

    CoinShares (Nasdaq First North Growth Market: CS; US OTCQX: CNSRF) has its plan to deal with the Merge. The Exchange-Traded Products (ETPs) CoinShares Physical Ethereum, is listed on the SIX Swiss Exchange, Xetra in Germany, as well as the Euronext in France and the Netherlands.

    According to Coinshares, it has been closely following the developments in the Ethereum protocol, with the Merge  and transition to a Proof of Stake (PoS) consensus network (ETHPoS) as well as the proposed fork of the existing Proof of Work (PoW) consensus network (ETHPoW).  As a result of the Fork, the Issuer understands that a new Digital Currency (ETHW) will be created and distributed pro rata to all holders of the existing Ether Digital Currency (ETH).

    Coinshares states:

    “The Fork will constitute a Fork Event for the purposes of the Conditions.  The Issuer expects, to the extent possible, to share the ETHW with Security Holders of CoinShares Physical Ethereum pursuant to Condition 15.4 of the Conditions of the Digital Securities.  However, the Issuer notes (i) that the markets for both ETHW and ETH may experience significant price volatility during the Merge, and (ii) that the new protocol for ETHW may experience risks associated with the stability of the technology underpinning the protocol as well as risks to the adoption of ETHW among exchanges and custodians.  As a result, the Issuer will continue to monitor the situation for ETHW, with a focus on the timing, adoption and viability of the new protocol and underlying digital currency before finalising any approach to a distribution associated with a Fork Event.”

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    Fork: Coinshares Reveals Plans for Physical Ethereum ETP, Traded on SIX, Xetra and EURONEXT Republished from Source https://www.crowdfundinsider.com/2022/09/195971-fork-coinshares-reveals-plans-for-physical-ethereum-etp-traded-on-six-xetra-and-euronext/ via https://www.crowdfundinsider.com/feed/

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