Grayscale Ethereum Classic Trust

Grayscale Ethereum Classic Trust (ETC) is a Delaware Statutory Trust formed on April 18, 2017. The Trust's purpose is to hold Ethereum Classic ("ETC"), which are digital assets created and transmitted through the peer-to-peer Ethereum Classic Network. This network is a decentralized system of computers operating on cryptographic protocols. Ethereum Classic originated from a hard fork of the Ethereum blockchain on July 20, 2016, following a June 17, 2016 exploit of a smart contract that resulted in approximately $60 million worth of Ethereum tokens ("Ether") being siphoned. While the new Ethereum blockchain removed records of the theft, the original Ethereum protocol was rebranded as Ethereum Classic, with its native token as ETC. Ethereum Classic preserved the original transaction history, including The DAO theft, and maintained principles of decentralized governance and immutability. Key differences between the Ethereum Classic Network and the Ethereum Network include total token supply, monetary policy, and consensus mechanism. Ethereum Classic aims to align with Bitcoin Monetary Policy through an exponentially decreasing inflation rate to stabilize total issuance. The Ethereum Classic community implemented a 20% reduction in block rewards, which continues to reduce rewards by 20% every five million blocks, or approximately every two years. As of December 31, 2025, the Trust holds approximately 7% of the ETC in circulation.