Greyscale investment, a digital asset manager, announced its massive plan to sell all 3.1 million Ethereum proof-of-work tokens which were received by Grayscale Ethereum Trust and Grayscale Digital Large Cap Fund after Ethereum was updated to proof-of-stake from proof-of-work.
The fund and the trust, both will transfer the token rights to Greyscale Investments, which will further sell them within 180 days. Profits will be allocated to all the shareholders. According to Greyscale, the lack of liquidity in the ETHPoW market is the reason behind this decision to sell. Because of the token’s incredible volatility, it is difficult to predict how much the firm will get out of the sale.