Barry Silbert Plans Ethereum Classic Trust

Investing, News | March 10, 2017 By:

Bitcoin Investment Trust founder Barry Silbert is looking to create a second trust focused on Ethereum Classic.

Silbert’s new investment trust, which he hopes to launch within the month, will be structured exactly like his Bitcoin Investment Trust and will be open only for what’s described as “select investors satisfying certain criteria.” No details were immediately available on that criteria.

Ethereum Classic is currently seventh among all cryptocurrencies, carrying a market capitalization of more than US $122 million.

Silbert speculated that the new trust might soon start trading over-the-counter like Bitcoin Investment Trust, adding that the decision to create the new trust was influenced by the investments made by him and his Digital Currency Group in the cryptocurrency platform.

“I think we’ve demonstrated success.” said Silbert in a statement. “And I think we demonstrated our ability to identify an investment opportunity before it attracted a lot of attention and a lot of capital.”