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Digital asset-backed securities provider the Etc Group has said it will list an exchange-traded product (ETP) based on an anticipated hard fork of the Ethereum blockchain on September 15. Current holders of Etc Group\u2019s ethereum ETP (ZETH) will be issued with \u201cunits of the new security free of charge on a 1:1 unit basis.\u201d <\/strong><\/p>\n The Etc Group, a provider of institutional-grade digital asset-backed securities, has said it will list a new exchange-traded product (ETP) based on a hard fork of the Ethereum blockchain that is likely to occur after the so-called \u201cMerge.\u201d According to a statement issued by the securities provider, the ETP will be listed on the German exchange Xetra on September 16, a day after the forking event.<\/p>\n As outlined in the securities provider\u2019s statement<\/a>, holders of Etc Group\u2019s current ethereum ETP (ZETH) will be issued with \u201cunits of the new security free of charge on a 1:1 unit basis.\u201d The statement explained that the new units will be \u201cin addition to their existing ZETH holdings which will persist and be backed by ETH<\/a> as before.\u201d<\/p>\n As the Ethereum blockchain\u2019s anticipated switch from a proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism approaches, a number of crypto experts believe The Merge will see some \u201cminers forking ETH<\/a> to keep a PoW version so they can continue mining.\u201d As a consequence, current ETH<\/a> holders will likely receive airdrops<\/a> of a new altcoin called ETHW.<\/p>\n Explaining the reasons behind the Etc Group\u2019s plan to list the ETP, the organization\u2019s founder and co-CEO, Bradley Duke, said:<\/p>\n \u201cWhen we launched Etc Group, we committed to holders of our digital asset-backed securities that they would benefit from hard forks to the underlying digital assets and cryptocurrencies. In line with this and our demonstrated leadership of the digital asset industry, any holders of our Ethereum-based ETP (ZETH) will receive, at no cost, matching units of the new Ethereum PoW ETP soon after the Ethereum Hard Fork occurs, which we\u2019re expecting around September 15.\u201d<\/p>\n Before announcing plans to list the new ETP, the Etc Group had released a research report<\/a> explaining The Merge<\/a> and what will likely happen after September 15. The fate of ETH<\/a> miners as well as the forked chain\u2019s chances of succeeding are also examined.<\/p>\nEthereum Hard Fork<\/h2>\n