Grayscale ETC Trust Files Q2 2024 10-Q

Ticker: ETCG · Form: 10-Q · Filed: 2024-08-02T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, cryptocurrency, trust, Ethereum Classic

Related Tickers: ETC

TL;DR

Grayscale ETC Trust Q2 10-Q filed. Shows investment in Ethereum Classic. Check financials.

AI Summary

Grayscale Ethereum Classic Trust (ETC) filed its 10-Q for the period ending June 30, 2024. The filing details the trust's investment in Ethereum Classic and its financial performance. Key financial data and operational details are provided, including information on related party transactions and fair value measurements.

Why It Matters

This filing provides investors with an update on the financial health and holdings of the Grayscale Ethereum Classic Trust, crucial for understanding the trust's performance and associated risks.

Risk Assessment

Risk Level: medium — The trust's value is directly tied to the volatile price of Ethereum Classic, and it faces operational and regulatory risks inherent in cryptocurrency investments.

Key Numbers

N/A — Total Assets (Specific asset values are not detailed in the provided snippet.)
N/A — Net Asset Value (Specific NAV figures are not present in the snippet.)
N/A — Management Fees (Fee details are not in the provided text.)

Key Players & Entities

Grayscale Ethereum Classic Trust (ETC) (company) — Filer of the 10-Q
Ethereum Classic (company) — Underlying asset of the trust
20240630 (date) — End of reporting period
20240802 (date) — Filing date

FAQ

What was the trust's net asset value as of June 30, 2024?

The provided text snippet does not contain the specific net asset value for June 30, 2024.

What were the total expenses for the quarter ending June 30, 2024?

Specific expense figures for the quarter are not detailed in the provided text.

Are there any significant subsequent events reported after June 30, 2024?

The filing mentions 'us-gaap:SubsequentEventMember' with a date of 2024-07-29, indicating subsequent events were considered.

What is the nature of the 'InvestmentInEthereumClassicMember' mentioned?

This likely refers to the trust's primary holding, which is Ethereum Classic.

Who is listed as the sponsor of the trust?

The filing mentions 'etcg:SponsorMember' and 'etcg:DCGMember', suggesting a sponsor relationship, likely Grayscale or Digital Currency Group.

From the Filing

0000950170-24-089613.txt : 20240802 0000950170-24-089613.hdr.sgml : 20240802 20240802083425 ACCESSION NUMBER: 0000950170-24-089613 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 44 CONFORMED PERIOD OF REPORT: 20240630 FILED AS OF DATE: 20240802 DATE AS OF CHANGE: 20240802 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: 241168971 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-20240630.htm 10-Q 10-Q Q2 false 0001705181 --12-31 http://grayscale.com/20240630#InvestmentInEthereumClassicMember http://grayscale.com/20240630#InvestmentInEthereumClassicMember 0001705181 2023-04-01 2023-06-30 0001705181 etcg:InvestmentInEthereumClassicMember 2024-06-30 0001705181 srt:MaximumMember etcg:DCGMember 2022-03-02 0001705181 etcg:SponsorMember 2024-01-01 2024-06-30 0001705181 2024-03-31 0001705181 us-gaap:FairValueInputsLevel3Member 2024-06-30 0001705181 2022-12-31 0001705181 2023-12-31 0001705181 2024-01-01 2024-06-30 0001705181 us-gaap:SubsequentEventMember 2024-07-29 0001705181 us-gaap:FairValueInputsLevel2Member 2024-06-30 0001705181 etcg:NonSponsorPaidExpensesMember 2024-01-01 2024-06-30 0001705181 etcg:InvestmentInEthereumClassicMember 2023-12-31 0001705181 us-gaap:RelatedPartyMember 2023-01-01 2023-06-30 0001705181 2023-01-01 2023-12-31 0001705181 2023-03-31 0001705181 us-gaap:RelatedPartyMember 2024-04-01 2024-06-30 0001705181 etcg:SponsorMember 2023-12-31 0001705181 us-gaap:FairValueInputsLevel3Member 2023-12-31 0001705181 srt:MaximumMember etcg:DCGMember 2022-03-02 2022-03-02 0001705181 2023-01-01 2023-06-30 0001705181 2024-04-01 2024-06-30 0001705181 us-gaap:RelatedPartyMember 2023-04-01 2023-06-30 0001705181 us-gaap:FairValueInputsLevel2Member 2023-12-31 0001705181 etcg:CoinbaseIncMember etcg:SponsorParentMember 2024-06-30 0001705181 etcg:DCGMember 2021-06-21 2021-12-31 0001705181 us-gaap:RelatedPartyMember 2023-12-31 0001705181 2024-06-30 0001705181 srt:MaximumMember etcg:DCGMember 2021-06-21 0001705181 us-gaap:FairValueInputsLevel1Member 2024-06-30 0001705181 us-gaap:FairValueInputsLevel1Member 2023-12-31 0001705181 us-gaap:RelatedPartyMember 2024-01-01 2024-06-30 0001705181 2023-06-30 0001705181 etcg:SponsorMember 2024-06-30 0001705181 us-gaap:RelatedPartyMember 2024-06-30 0001705181 etcg:DCGMember 2022-01-01 2024-06-30 0001705181 us-gaap:SubsequentEventMember 2024-07-29 2024-07-29 etcg:Right iso4217:USD xbrli:shares xbrli:pure etcg:ETC 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 June 30, 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:  