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Grayscale Ethereum Classic Trust (ETC)
Grayscale Ethereum Classic Trust (ETC) is a passive investment vehicle holding ETC tokens, trading OTC under the ETCG ticker.
Grayscale Ethereum Classic Trust (ETC)
Grayscale Investments, founded in 2013 by Barry Silbert, launched the Grayscale Ethereum Classic Trust in 2017 to provide a regulated investment vehicle for Ethereum Classic (ETC). The trust is structured as a single-asset product that holds ETC tokens in cold storage with Coinbase Custody as the custodian. Its shares trade on the OTCQX market under the ticker ETCG. The trust's strategy is passive: it does not actively trade or stake ETC tokens. It generates returns solely from changes in the spot price of Ethereum Classic, minus an annual expense ratio that has historically been 2.5%. No leverage or derivatives are used. The trust targets accredited individual and institutional investors seeking exposure without managing private keys or digital wallets. Total AUM for the trust was roughly $50 million as of early 2026, per public filings by Grayscale in periodic Form 10-Qs filed with the SEC. The trust complements Grayscale's product suite of over 15 single-asset crypto trusts and its spot Bitcoin and Ethereum ETFs. Grayscale Investments is owned by Digital Currency Group, a blockchain-focused conglomerate founded by Barry Silbert. A structural distinction is that this trust operates as a 'grantor trust' under Delaware law, meaning it does not engage in active management beyond holding ETC tokens. Investors must be accredited, and shares can be sold at a premium or discount to net asset value, a dynamic that has historically caused volatility in share pricing relative to the underlying token.
General information
Firm type
other
Year founded
2017
AUM
Under $100 million (Altss estimate)
Location
Region
North America
Country
United States
City
Stamford
Corporate office
Stamford, CT, United States
Principals
Michael Sonnenshein
CEO
Zach Pandl
Head of Research
Sector focus
Frequently asked questions
Who makes investment decisions at Grayscale Ethereum Classic Trust?
The trust is structured as a grantor trust, not a managed fund. Grayscale Investments acts as the sponsor, with CEO Michael Sonnenshein overseeing corporate strategy. Liquidation and token management decisions are largely pre-determined by the trust's governing documents, though Grayscale's management team can liquidate the trust under certain conditions (per public filings).
Does the trust stake or lend its Ethereum Classic holdings?
No. The trust's documents specify it holds the ETC tokens passively in custody with Coinbase Custody Trust Company. It does not engage in staking, lending, or any yield-generating activity — the only return driver is price appreciation of ETC (per the trust's prospectus).
How does the trust's structure differ from an ETF?
This is a grantor trust, not a registered ETF. It trades on the OTCQX market, not a national exchange like NYSE. Shares can trade at a premium or discount to NAV. Unlike an ETF, shares are created and redeemed in large blocks only by authorized participants, typically through in-kind transactions of ETC tokens (per trust filings).
What is the expense ratio?
The trust charges an annual sponsor fee of 2.5% of net asset value, paid in ETC tokens. This fee is deducted daily from the trust's holdings. There are no additional management fees or performance fees (per the trust's annual report).
Is the trust available to retail investors?
No. Shares are available only to accredited investors as defined under SEC Rule 501 of Regulation D. However, shares can be resold on the open market after a six-month holding period under Rule 144, making them accessible to non-accredited investors via brokerage accounts at that point (per SEC rules).
How does Grayscale's parent company Digital Currency Group affect the trust?
Digital Currency Group (DCG) owns Grayscale Investments, the trust's sponsor. DCG's financial condition, including its 2022 bankruptcy of its Genesis Global lending unit, has no direct impact on the trust's independent asset custody — the ETC tokens are held separately by Coinbase Custody. However, Grayscale's management fees flow to DCG (per public records).
What happens if the SEC denies a listing on NYSE Arca?
The trust would continue trading OTC on the OTCQX market as it currently does. The NYSE Arca listing attempt is an effort to increase liquidity and potentially narrow the discount to NAV. If denied, the trust structure remains unchanged (per SEC filings).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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