Grayscale ETC Trust Files Q1 2024 10-Q

Ticker: ETCG · Form: 10-Q · Filed: 2024-05-03T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, cryptocurrency, trust, SEC filing

Related Tickers: ETC

TL;DR

Grayscale ETC Trust Q1 2024 10-Q filed. Details investment performance and related party transactions.

AI Summary

Grayscale Ethereum Classic Trust (ETC) filed its 10-Q for the period ending March 31, 2024. The filing details the trust's investment in Ethereum Classic and its financial performance. Key information includes the trust's assets under management and related party transactions, with specific dates and financial figures to be found within the full document.

Why It Matters

This filing provides crucial insights into the financial health and operational status of the Grayscale Ethereum Classic Trust, impacting investors' understanding of their holdings.

Risk Assessment

Risk Level: medium — The trust's value is directly tied to the volatile Ethereum Classic cryptocurrency, exposing it to significant market risk.

Key Numbers

2024-03-31 — Reporting Date (Marks the end of the period covered by the 10-Q)
2024-05-03 — Filing Date (Date the 10-Q was officially submitted to the SEC)
2024-01-01 to 2024-03-31 — Q1 2024 Period (Covers the first fiscal quarter of 2024)

Key Players & Entities

Grayscale Ethereum Classic Trust (ETC) (company) — Filer of the 10-Q
Ethereum Classic (company) — Underlying asset of the trust
20240331 (date) — End of reporting period
20240503 (date) — Filing date
212-668-1427 (dollar_amount) — Business phone number

FAQ

What was the total value of Grayscale Ethereum Classic Trust's assets under management as of March 31, 2024?

The filing does not explicitly state the total AUM in the provided snippet, but it references the reporting date of March 31, 2024, indicating this information would be detailed within the full document.

Are there any significant related party transactions mentioned for the quarter ending March 31, 2024?

Yes, the filing indicates related party transactions for the periods ending March 31, 2024, and also for the year ending December 31, 2023, and the first quarter of 2023.

What is the primary investment held by the Grayscale Ethereum Classic Trust?

The trust's primary investment is in Ethereum Classic, as indicated by its name and the reference to 'InvestmentInEthereumClassicMember'.

When was the trust formerly known as Ethereum Classic Investment Trust?

The trust was formerly known as Ethereum Classic Investment Trust until April 27, 2017.

Does the filing mention any subsequent events after the reporting period?

Yes, the filing references 'us-gaap:SubsequentEventMember' and a date of April 30, 2024, suggesting subsequent events are disclosed.

From the Filing

0000950170-24-053053.txt : 20240503 0000950170-24-053053.hdr.sgml : 20240503 20240503171853 ACCESSION NUMBER: 0000950170-24-053053 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 46 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240503 DATE AS OF CHANGE: 20240503 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-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-56309 FILM NUMBER: 24914457 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-Q 1 etcg-20240331.htm 10-Q 10-Q --12-31 0001705181 Q1 false http://grayscale.com/20240331#InvestmentInEthereumClassicMember http://grayscale.com/20240331#InvestmentInEthereumClassicMember 0001705181 etcg:SponsorMember 2024-03-31 0001705181 srt:MaximumMember etcg:DCGMember 2021-06-21 0001705181 etcg:InvestmentInEthereumClassicMember 2024-03-31 0001705181 us-gaap:RelatedPartyMember 2023-12-31 0001705181 us-gaap:FairValueInputsLevel1Member 2024-03-31 0001705181 2024-01-01 2024-03-31 0001705181 srt:MaximumMember etcg:DCGMember 2022-03-02 2022-03-02 0001705181 2023-12-31 0001705181 2023-01-01 2023-03-31 0001705181 us-gaap:SubsequentEventMember 2024-04-30 0001705181 us-gaap:RelatedPartyMember 2023-01-01 2023-03-31 0001705181 2024-03-31 0001705181 us-gaap:RelatedPartyMember 2024-01-01 2024-03-31 0001705181 2024-04-30 0001705181 etcg:NonSponsorPaidExpensesMember 2024-01-01 2024-03-31 0001705181 us-gaap:RelatedPartyMember 2024-03-31 0001705181 etcg:SponsorParentMember etcg:CoinbaseIncMember 2024-03-31 0001705181 us-gaap:FairValueInputsLevel1Member 2023-12-31 0001705181 us-gaap:FairValueInputsLevel2Member 2024-03-31 0001705181 etcg:DCGMember 2022-01-01 2024-03-31 0001705181 2023-03-31 0001705181 srt:MaximumMember etcg:DCGMember 2022-03-02 0001705181 etcg:SponsorMember 2023-12-31 0001705181 us-gaap:FairValueInputsLevel3Member 2023-12-31 0001705181 etcg:InvestmentInEthereumClassicMember 2023-12-31 0001705181 us-gaap:FairValueInputsLevel2Member 2023-12-31 0001705181 2023-01-01 2023-12-31 0001705181 2022-12-31 0001705181 us-gaap:FairValueInputsLevel3Member 2024-03-31 0001705181 etcg:SponsorMember 2024-01-01 2024-03-31 0001705181 us-gaap:SubsequentEventMember 2024-04-30 2024-04-30 0001705181 etcg:DCGMember 2021-06-21 2021-12-31 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-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 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.)   c/o Grayscale Investments, LLC 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 Trading Symbol(s) Name of each exchange on which registered Grayscale Ethereum Classic Trust (ETC) Shares ETCG N/A     Indicate by check mark whether the registrant (1) has filed