ETC Group Says It Will List an Exchange-Traded Product Based on Anticipated ETH Hard Fork

The Etc Group is a provider of digital asset-backed securities that are institutional-grade and has announced it will list an exchange-traded product (ETP). It is based on a hardfork of Ethereum’s blockchain, which is expected to take place after the so-called “Merge.” According to a statement by the securities provider the ETP will be listed on Xetra in Germany on September 16th, a day following the forking event.

According to the statement of the securities provider, holders of Etc Group’s current ethereum TTP (ZETH), will receive ‘units’ of the new security at a 1:1 basis. According to the statement, the new units will be added to existing ZETH holdings and backed by ETC.

Many crypto experts believe that The Merge will see some miners forking Ethereum in order to continue mining. The ETH holders currently will likely get airdrops for a new altcoin, ETHW.

Bradley Duke, founder of Etc Group, explained the reasons for Etc Group’s plans to list the ETP.

“When we created Etc Group, our commitment to holders of our digital asset backed securities was that they would be able to benefit from hard forks in the underlying digital assets or cryptocurrencies. We have demonstrated our leadership in the digital asset sector and this is why all holders of our Ethereum-based ETP will be able to receive at no cost matching units of the new Ethereum PoW EPTP shortly after the Ethereum Hard Fork. This is expected to occur around September 15.

Before the Etc Group announced plans to list the ETP, they had published a research that explained The Merge as well as what would likely happen after September 15. We also examine the fate of Ethereum miners and the chances of success of forked chains.