Grayscale Ethereum Classic Trust Files 2023 10-K
Ticker: ETCG · Form: 10-K · Filed: 2024-02-23T00:00:00.000Z
Sentiment: neutral
Topics: earnings, crypto, trust, annual-report
Related Tickers: ETCG
TL;DR
**Grayscale Ethereum Classic Trust just dropped its 2023 10-K, giving us a look at their ETC holdings and sponsor expenses.**
AI Summary
Grayscale Ethereum Classic Trust (ETC) filed its 10-K on February 23, 2024, for the fiscal year ending December 31, 2023. The filing details its investment in Ethereum Classic and its relationship with the sponsor, Grayscale Investments, LLC. Key financial data includes fair value inputs for its Ethereum Classic holdings, categorized as Level 1, and expenses paid by the sponsor and non-sponsor entities during 2023.
Why It Matters
This filing provides transparency into the financial health and operational structure of a major Ethereum Classic investment vehicle, impacting investors holding ETCG shares.
Risk Assessment
Risk Level: medium — The value of the Trust is directly tied to the volatile price of Ethereum Classic, a cryptocurrency, making it subject to significant market fluctuations.
Key Players & Entities
- Grayscale Ethereum Classic Trust (ETC) (company) — filer of the 10-K
- Grayscale Investments, LLC (company) — sponsor of the Trust
- Ethereum Classic (company) — underlying asset of the Trust
- December 31, 2023 (date) — end of the reporting period
- February 23, 2024 (date) — filing date of the 10-K
FAQ
What is the primary asset held by Grayscale Ethereum Classic Trust (ETC)?
The primary asset held by Grayscale Ethereum Classic Trust (ETC) is Ethereum Classic, as indicated by the tag 'etcg:InvestmentInEthereumClassicMember' in the filing.
When was the 10-K for Grayscale Ethereum Classic Trust (ETC) filed?
The 10-K for Grayscale Ethereum Classic Trust (ETC) was filed on February 23, 2024, as stated in the 'FILED AS OF DATE' field.
What was the fiscal year end for the Grayscale Ethereum Classic Trust (ETC) 10-K filing?
The fiscal year end for the Grayscale Ethereum Classic Trust (ETC) 10-K filing was December 31, 2023, as indicated by 'CONFORMED PERIOD OF REPORT: 20231231'.
Who is the sponsor of the Grayscale Ethereum Classic Trust (ETC)?
The filing refers to 'etcg:SponsorMember' in relation to expenses, indicating a sponsor is involved, which is Grayscale Investments, LLC based on general knowledge of Grayscale trusts.
What type of fair value inputs are primarily used for the Trust's assets as of December 31, 2023?
As of December 31, 2023, the Trust primarily uses 'us-gaap:FairValueInputsLevel1Member' for its assets, suggesting highly liquid and observable market prices.
From the Filing
0000950170-24-019124.txt : 20240223 0000950170-24-019124.hdr.sgml : 20240223 20240223085035 ACCESSION NUMBER: 0000950170-24-019124 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 50 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240223 DATE AS OF CHANGE: 20240223 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Grayscale Ethereum Classic Trust (ETC) CENTRAL INDEX KEY: 0001705181 STANDARD INDUSTRIAL CLASSIFICATION: [6221] ORGANIZATION NAME: 09 Crypto Assets IRS NUMBER: 826239281 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-56309 FILM NUMBER: 24667357 BUSINESS ADDRESS: STREET 1: 290 HARBOR DRIVE STREET 2: 4TH FLOOR CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 212-668-1427 MAIL ADDRESS: STREET 1: 290 HARBOR DRIVE STREET 2: 4TH FLOOR CITY: STAMFORD STATE: CT ZIP: 06902 FORMER COMPANY: FORMER CONFORMED NAME: Ethereum Classic Investment Trust DATE OF NAME CHANGE: 20170427 10-K 1 etcg-20231231.htm 10-K 10-K --12-31 false 0001705181 FY http://grayscale.com/20231231#InvestmentInEthereumClassicMember http://grayscale.com/20231231#InvestmentInEthereumClassicMember 0001705181 srt:MaximumMember etcg:DCGMember 2021-06-21 0001705181 etcg:NonSponsorPaidExpensesMember 2023-01-01 2023-12-31 0001705181 2023-07-01 2023-09-30 0001705181 2023-04-01 2023-06-30 0001705181 2022-01-01 2022-12-31 0001705181 us-gaap:FairValueInputsLevel1Member 2022-12-31 0001705181 us-gaap:RelatedPartyMember 2022-12-31 0001705181 us-gaap:FairValueInputsLevel1Member 2023-12-31 0001705181 2022-07-01 2022-09-30 0001705181 srt:MaximumMember etcg:DCGMember 2022-03-02 0001705181 us-gaap:FairValueInputsLevel2Member 2023-12-31 0001705181 us-gaap:RelatedPartyMember 2023-01-01 2023-12-31 0001705181 etcg:SponsorMember 2023-01-01 2023-12-31 0001705181 etcg:InvestmentInEthereumClassicMember 2022-12-31 0001705181 2022-01-01 2022-03-31 0001705181 2022-04-01 2022-06-30 0001705181 2023-06-30 0001705181 2024-02-19 0001705181 2022-10-01 2022-12-31 0001705181 2023-01-01 2023-03-31 0001705181 2021-01-01 2021-12-31 0001705181 us-gaap:RelatedPartyMember 2021-01-01 2021-12-31 0001705181 us-gaap:FairValueInputsLevel2Member 2022-12-31 0001705181 2020-12-31 0001705181 2021-12-31 0001705181 2023-12-31 0001705181 us-gaap:RelatedPartyMember 2022-01-01 2022-12-31 0001705181 etcg:InvestmentInEthereumClassicMember 2023-12-31 0001705181 2023-01-01 2023-12-31 0001705181 us-gaap:FairValueInputsLevel3Member 2023-12-31 0001705181 us-gaap:RelatedPartyMember 2023-12-31 0001705181 etcg:DCGMember 2021-06-21 2022-12-31 0001705181 us-gaap:SubsequentEventMember 2024-02-19 2024-02-19 0001705181 etcg:DCGMember 2022-01-01 2023-12-31 0001705181 2022-04-01 2023-12-31 0001705181 us-gaap:SubsequentEventMember 2024-02-19 0001705181 us-gaap:FairValueInputsLevel3Member 2022-12-31 0001705181 2023-10-01 2023-12-31 0001705181 etcg:SponsorParentMember etcg:CoinbaseIncMember 2023-12-31 0001705181 2022-12-31 etcg:Right iso4217:USD xbrli:shares etcg:ETC xbrli:pure xbrli:shares iso4217:USD   UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ______   Commission File Number 000-56309 Grayscale Ethereum Classic Trust (ETC) SPONSORED BY GRAYSCALE INVESTMENTS, LLC (Exact Name of Registrant as Specified in Its Charter)   Delaware 82-6239281 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.)     290 Harbor Drive, 4 th Floor Stamford , Connecticut 06902 (Address of Principal Executive Offices) (Zip Code)   ( 212 ) 668-1427 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(g) of the Act:   Title of each class T