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Grayscale To Sell 3 Million PoW Tokens Due To Lack Of Liquidity

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Sep 17, 2022

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Greyscale investment, a digital asset manager, announced its massive plan to sell all 3.1 million Ethereum proof-of-work tokens which were received by Grayscale Ethereum Trust and Grayscale Digital Large Cap Fund after Ethereum was updated to proof-of-stake from proof-of-work. 

The fund and the trust, both will transfer the token rights to Greyscale Investments, which will further sell them within 180 days. Profits will be allocated to all the shareholders. According to Greyscale, the lack of liquidity in the ETHPoW market is the reason behind this decision to sell. Because of the token’s incredible volatility, it is difficult to predict how much the firm will get out of the sale. 

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