The Grayscale is going to take a hundred and eighty days at maximum to decide if, when and how will the Ethereum PoW selling will proceed on the record date shareholders. The crypto investment firm called Grayscale Investments will take more time to decide if it should buy and sell their post-merge Ethereum tokens.
Grayscale has announced on 16th March that the company wants to increase the review period to evaluate the market environment to make sure if they can get the Ethereum PoW tokens which is actually a forked asset that came after the Merge of Ethereum back in last September.
During the period of reviewing, Grayscale has also revealed that they will decide if, when and how they will sell the ETHW for the shareholders. In their announcement the firm has said that this review period might take longer than expected.
Ethereum After The Merge: Things To Know
As it takes longer for Grayscale to decide if they want to sell and how in threat case the ETH coins, the firm reasoned this extension to the uncertainty currently happening for the support of ETHW tokens by the other trading venues and digital asset custodians.
ETH that is now the second biggest network as per the market value after BTC has recently completed a merge which is a major upgrade since last September. The new upgrade moved the ETH network from PoW to PoS algorithm. As many people in the community were trying to use the mining based model, Ethereum forked in different blockchains. These blockchains being the PoS base ETH and the PoW base one.