Grayscale ETH Trust to be Listed at OTC Markets

Ethereum Trust (ETHE), like the more popular Grayscale product called Bitcoin Trust (GBTC), will be able to trade freely like other securities on the OTC market
24 May 2019   292

Cryptocurrency assets manager Grayscale Investments has received permission from the Financial Industry Regulatory Authority(FINRA) to list the securities of its Ethereum trust (ETHE) in the OTC Markets OTC trading system.

Thus, Ethereum Trust, like the more well-known Grayscale product called Bitcoin Trust (GBTC), will be able to trade freely like other securities on the OTC market.

Also, Grayscale Investments draws attention, this is the first case when listed shares connected with the second cryptocurrency capitalization Ethereum appear on the open market.

ETNE securities will be traded in two weeks.

ETNE is an unlimited trust, the value of assets and capitalization of which are tied to the market price of Ethereum. Investors will be able to earn on fluctuations in the price of Ethereum without the need to acquire and store cryptocurrency.

Grayscale Investments manages ten cryptocurrency funds, most of which are available only to accredited investors.

dOrg to Become The First DAO With Legal Status in US

DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract
13 June 2019   200

The decentralized autonomous organization (DAO) dOrg based on the DAOstack framework registered dOrg LLC in Vermont, USA. This was the first precedent in the United States, according to law firm Gravel & Shea.

According to the company, the blockchain-based limited liability company (BBLLC) has a legal status, which allows it to enter into agreements and protect the interests of participants in accordance with applicable law.

Note that a DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract. Decisions in such organizations are made by voting by the participants, which provides consensus.

dOrg asked us to help design a DAO legal wrapper after discovering the potential of BBLLCs. We believe that dOrg is now the first legal entity that directly references blockchain code as its source of governance. Its material operations and ownership interests are managed entirely on-chain.
 

Oliver Goodenough

Law professor, Vermont Law School and special counsel, Gravel & Shea

dOrg believes that they have made the first step in integrating the DAO format into the existing economy.

Some time ago, Moloch DAO attracted 1000 ETH from Vitalik Buterin, Joseph Lubin, start-up ConsenSys and non-profit organization Ethereum Foundation.