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Grayscale Ethereum Classic Trust (ETCG+0.51%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The Trust's purpose is to hold Ethereum Classic (ETC), a digital asset created and transmitted through the operations of the Ethereum Classic Network. The Trust aims for the value of the Shares to reflect the value of the ETC held by the Trust, less the Trust's expenses and other liabilities.
As of December 31, 2024, the Trust holds approximately 8% of the ETC in circulation. The Trust's assets consist solely of ETC, incidental rights, IR Virtual Currency, and proceeds from the sale of these assets.
The Trust reported that the Shares have historically traded at a substantial premium over, or a substantial discount to, the NAV per Share. The Trust does not currently operate a redemption program, and the Shares are not redeemable by the Trust.
The Sponsor of the Trust is Grayscale Investments, LLC, which is responsible for the day-to-day administration of the Trust, including preparing periodic reports and financial statements, processing orders to create Baskets, and calculating and publishing the NAV and NAV per Share.
The Trust's only ordinary recurring expense is the Sponsor's Fee, which accrues daily at an annual rate of 2.5% of the Trust's NAV. Extraordinary expenses, such as taxes or legal fees, are not covered by the Sponsor and are borne by the Trust.
The Trust faces various risks, including the volatility of ETC prices, regulatory changes, and reliance on third-party service providers. The Trust also highlights the potential impact of forks and regulatory actions on the value of ETC and the Shares.
The Trust is not a registered investment company under the Investment Company Act and does not hold or trade in commodity interests regulated by the CEA. The Trust's Shares are quoted on OTCQX under the ticker symbol 'ETCG'.
The Trust may be required to dissolve under certain circumstances, such as if the Sponsor withdraws or if the Trust becomes insolvent. In such cases, the Trust would liquidate its ETC and distribute the proceeds to shareholders.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Grayscale Ethereum Classic Trust annual 10-K report dated March 7, 2025. To report an error, please email earnings@qz.com.