Notice to holders of Affected Securities regarding the merge and the hard fork of the Ethereum network
We refer to the notice issued by the Issuer on 12 September 2022 (the “Initial Notice”). Terms not defined herein shall have the meaning ascribed to them in the Initial Notice or the Prospectus for the Issuer dated 18 July 2022. This notice should be read in conjunction with the Initial Notice.
The Issuer notes that hard forks occurred in the Ethereum network in the days around the Merge on 15 September 2022. As a consequence, the Issuer designated a Record Date for the Affected Securities on 15 September 2022. In keeping with the Issuer’s policy on forking, in the event that a Fork is not supported by a Custodian, this will be clearly notified to the Issuer.
Following a review of and diligence on Forked Ethereum, the Custodians have confirmed to the Issuer that, as of the date of this notice, they do not support the Forked Ethereum and do not intend to support it at any time in the future. As a result, the Issuer cannot support Forked Ethereum and therefore will not provide any benefit of the Forked Ethereum to the holders of the Affected Securities on the Record Date.
The Issuer notes that the Ethereum network is expected to move fully from a proof of work system to a proof of stake system on or around 14 September 2022 (the “Merge”). The Issuer further notes that it is expected that a hard fork will occur in the Ethereum network following the Merge (the “Hard Fork”) resulting in the creation of forked assets as a result of the Hard Fork (the “Forked Ethereum”).
The Issuer intends to designate a record date for the following Digital Securities (together, the Affected Securities) as of the date of the Hard Fork (the “Record Date”):
|
Class of Affected Securities |
ISIN |
|
WisdomTree Ethereum |
GB00BJYDH394 |
|
WisdomTree Crypto Market |
GB00BMTP1626 |
|
WisdomTree Crypto Mega Cap Equal Weight |
GB00BMTP1733 |
The Issuer shall notify holders of the Affected Securities of the Record Date by way of separate notice.
The Issuer is and will closely monitor the impact of the Hard Fork and assess the options available to it should the Hard Fork occur, which may depend on options made available by related third parties such as Custodians, Exchanges and Authorised Participants. Should the Hard Fork occur, the Issuer will assess the options available to it with an aim to enable holders of the Affected Securities as at the Record Date to receive the benefit of the Forked Ethereum.
The Issuer notes that if the Hard Fork occurs, it will not impact the security or structure of the Affected Securities and it can give no guarantee that it will be able to identify a way of providing the benefit of the Forked Ethereum to the holders of the Affected Securities as of the Record Date. Any holder of the Affected Securities who acquires Affected Securities after the Record Date shall not receive any benefit from the Forked Ethereum.
Terms not defined herein have the same meaning given to them in the prospectus for the Issuer dated 18 July 2022.
A further update shall be given to holders of the Affected Securities by way of notice in due course. For further information, please contact us.
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