Valour sale of forked assets received following the Ethereum Merge: transition to Proof-of-Stake
In light of Ethereum’s successful transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), a fork event occurred in which a separate protocol (EthereumPoW) was created with duplicated fund (ETHW) balances. Following extensive collaboration with its counterparties, Valour can confirm that it has consolidated its full pro-rated ETHW allocation, with net proceeds being reinvested into the underlying asset of Valour’s Ethereum Zero certificate products, namely, the native ETH of the upgraded chain. This change will be reflected through an adjustment to the NAV (Net Asset Value) of both Valour Ethereum Zero certificates (SEK and EUR denominated), scheduled to be updated on 19 October 2022.
Valour Ethereum Zero
Valour’s Ethereum Zero products (Valour Ethereum Zero SEK, ISIN: CH1104954362 and Valour Ethereum Zero EUR, ISIN: CH0585378752) enable investors to gain exposure to Ethereum with zero management fees. The referenced asset under Valour’s certificate program continues to track the underlying asset (ETH) of the upgraded Proof-of-Stake blockchain, known as the Beacon Chain.
The first phase of Ethereum’s long awaited upgrade successfully completed on 15th September 2022. For Valour’s previous communications on the Ethereum upgrade, please refer to Valour’s initial statement (here), further clarification (here), and outlined action on forked assets (here).
Valour Inc. is a technology company and the first and only publicly traded company that bridges the gap between traditional capital markets and decentralised finance. Founded in 2019, Valour is backed by an acclaimed and pioneering team with decades of experience in financial markets and digital assets. Valour's mission is to expand investor access to industry-leading Web3 and decentralised technologies. This allows investors to access the future of finance via regulated equity exchanges using their traditional bank account and access. For more information, please visit www.valour.com
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