$ETCG
Grayscale Ethereum Classic Trust (ETC)

2022 Q2 Form 10-Q Financial Statement

#000095017022008004 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1
Revenue
YoY Change
Cost Of Revenue $2.800M
YoY Change
Gross Profit -$2.800M
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $0.00
YoY Change
Operating Profit -$2.800M
YoY Change
Interest Expense $164.9M
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $162.1M
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$395.7M $162.1M
YoY Change -176.34%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $11.58M
COMMON SHARES
Basic Shares Outstanding 13.99M 13.99M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $569.5M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $173.9M $569.5M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $0.00 $0.00
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $569.5M
YoY Change
Total Liabilities & Shareholders Equity $569.5M
YoY Change

Cashflow Statement

Concept 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$395.7M $162.1M
YoY Change -176.34%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q1 dei Amendment Flag
AmendmentFlag
false
CY2022Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001705181
CY2022Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2022Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
CY2022Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2022Q1 dei Document Type
DocumentType
10-Q
CY2022Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2022Q1 dei Document Period End Date
DocumentPeriodEndDate
2022-03-31
CY2022Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2022Q1 dei Entity File Number
EntityFileNumber
000-56309
CY2022Q1 dei Entity Registrant Name
EntityRegistrantName
Grayscale® Ethereum Classic Trust (ETC)
CY2022Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2022Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
82-6239281
CY2022Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
c/o Grayscale Investments, LLC
CY2022Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
290 Harbor Drive, 4th Floor
CY2022Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Stamford
CY2022Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
CT
CY2022Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
06902
CY2022Q1 dei City Area Code
CityAreaCode
212
CY2022Q1 dei Local Phone Number
LocalPhoneNumber
668-1427
CY2022Q1 dei Security12g Title
Security12gTitle
Grayscale Ethereum Classic Trust (ETC) Shares
CY2022Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2022Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2022Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2022Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2022Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2022Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
true
CY2022Q1 dei Entity Shell Company
EntityShellCompany
false
CY2022Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
13993800
CY2022Q1 us-gaap Investment Owned At Cost
InvestmentOwnedAtCost
91117000
CY2021Q4 us-gaap Investment Owned At Cost
InvestmentOwnedAtCost
91793000
CY2022Q1 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
569530000
CY2021Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
407466000
CY2022Q1 us-gaap Assets
Assets
569530000
CY2021Q4 us-gaap Assets
Assets
407466000
CY2022Q1 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
0
CY2021Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
0
CY2022Q1 us-gaap Liabilities
Liabilities
0
CY2021Q4 us-gaap Liabilities
Liabilities
0
CY2022Q1 us-gaap Assets Net
AssetsNet
569530000
CY2021Q4 us-gaap Assets Net
AssetsNet
407466000
CY2022Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
100243000
CY2021Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
100243000
CY2022Q1 etcg Accumulated Net Investment Loss
AccumulatedNetInvestmentLoss
-24601000
CY2021Q4 etcg Accumulated Net Investment Loss
AccumulatedNetInvestmentLoss
-21798000
CY2022Q1 etcg Accumulated Net Realized Gain
AccumulatedNetRealizedGain
15475000
CY2021Q4 etcg Accumulated Net Realized Gain
AccumulatedNetRealizedGain
13348000
CY2022Q1 us-gaap Investment Owned Unrecognized Unrealized Appreciation Depreciation Net
InvestmentOwnedUnrecognizedUnrealizedAppreciationDepreciationNet
478413000
CY2021Q4 us-gaap Investment Owned Unrecognized Unrealized Appreciation Depreciation Net
InvestmentOwnedUnrecognizedUnrealizedAppreciationDepreciationNet
315673000
CY2022Q1 us-gaap Assets Net
AssetsNet
569530000
CY2021Q4 us-gaap Assets Net
AssetsNet
407466000
CY2022Q1 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
13993800
CY2021Q4 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
13993800
CY2022Q1 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
40.70
CY2021Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
29.12
CY2022Q1 us-gaap Investment Owned At Cost
InvestmentOwnedAtCost
91117000
CY2022Q1 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
569530000
CY2022Q1 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
1
CY2021Q4 us-gaap Investment Owned At Cost
InvestmentOwnedAtCost
91793000
CY2021Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
407466000
CY2021Q4 us-gaap Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
1
CY2022Q1 etcg Investment Income
InvestmentIncome
0
CY2021Q1 etcg Investment Income
InvestmentIncome
0
CY2022Q1 us-gaap Sponsor Fees
SponsorFees
2803000
CY2021Q1 us-gaap Sponsor Fees
SponsorFees
960000
CY2022Q1 us-gaap Investment Income Net
InvestmentIncomeNet
-2803000
CY2021Q1 us-gaap Investment Income Net
InvestmentIncomeNet
-960000
CY2022Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
2127000
CY2021Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
276000
CY2022Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
162740000
CY2021Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
96594000
CY2022Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
164867000
CY2021Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
96870000
CY2022Q1 us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
162064000
CY2021Q1 us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
95910000
CY2022Q1 us-gaap Investment Income Net
InvestmentIncomeNet
-2803000
CY2021Q1 us-gaap Investment Income Net
InvestmentIncomeNet
-960000
CY2022Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
2127000
CY2021Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
276000
CY2022Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
162740000
CY2021Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
96594000
CY2022Q1 us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
162064000
CY2021Q1 us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
95910000
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2716000
CY2021Q1 us-gaap Stockholders Equity Period Increase Decrease
StockholdersEquityPeriodIncreaseDecrease
2716000
CY2022Q1 etcg Increase Decrease In Net Assets
IncreaseDecreaseInNetAssets
162064000
CY2021Q1 etcg Increase Decrease In Net Assets
IncreaseDecreaseInNetAssets
98626000
CY2021Q4 us-gaap Assets Net
AssetsNet
407466000
CY2020Q4 us-gaap Assets Net
AssetsNet
69604000
CY2022Q1 us-gaap Assets Net
AssetsNet
569530000
CY2021Q1 us-gaap Assets Net
AssetsNet
168230000
CY2021Q4 us-gaap Shares Outstanding
SharesOutstanding
13993800
CY2020Q4 us-gaap Shares Outstanding
SharesOutstanding
13714100
CY2021Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
279700
CY2021Q1 us-gaap Stock Issued During Period Shares Period Increase Decrease
StockIssuedDuringPeriodSharesPeriodIncreaseDecrease
279700
CY2022Q1 us-gaap Shares Outstanding
SharesOutstanding
13993800
CY2021Q1 us-gaap Shares Outstanding
SharesOutstanding
13993800
CY2022Q1 etcg Common Units Issued Minimum Basket
CommonUnitsIssuedMinimumBasket
100
CY2022Q1 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
569530000
CY2021Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
407466000
CY2022Q1 etcg Investment Owned Balance Shares Held By Custodian
InvestmentOwnedBalanceSharesHeldByCustodian
12066301.77387363
CY2021Q4 etcg Investment Owned Balance Shares Held By Custodian
InvestmentOwnedBalanceSharesHeldByCustodian
12155893.99048110
CY2022Q1 etcg Ethereum Classic Fair Value Per Share
EthereumClassicFairValuePerShare
47.20
CY2021Q4 etcg Ethereum Classic Fair Value Per Share
EthereumClassicFairValuePerShare
33.52
CY2020Q4 us-gaap Investment Owned Balance Contracts
InvestmentOwnedBalanceContracts
12275746.83121040
CY2020Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
69604000
CY2021 etcg Investment Owned Balance Contracts New Contributions
InvestmentOwnedBalanceContractsNewContributions
249223.57301485
CY2021 etcg Investments Owned New Contributions
InvestmentsOwnedNewContributions
2716000
CY2021 etcg Investment Owned Balance Contracts Distributed
InvestmentOwnedBalanceContractsDistributed
-369076.41374415
CY2021 etcg Investments Owned Distributions
InvestmentsOwnedDistributions
-15574000
CY2021 etcg Investment Owned Balance Contracts Net Change In Unrealized Depreciation Appreciation
InvestmentOwnedBalanceContractsNetChangeInUnrealizedDepreciationAppreciation
0
CY2021 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
337929000
CY2021 etcg Investment Owned Balance Contracts Net Realized Loss Gain
InvestmentOwnedBalanceContractsNetRealizedLossGain
0
CY2021 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
12791000
CY2021Q4 us-gaap Investment Owned Balance Contracts
InvestmentOwnedBalanceContracts
12155893.99048110
CY2021Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
407466000
CY2022Q1 etcg Investment Owned Balance Contracts New Contributions
InvestmentOwnedBalanceContractsNewContributions
0
CY2022Q1 etcg Investments Owned New Contributions
InvestmentsOwnedNewContributions
0
CY2022Q1 etcg Investment Owned Balance Contracts Distributed
InvestmentOwnedBalanceContractsDistributed
-89592.21660747
CY2022Q1 etcg Investments Owned Distributions
InvestmentsOwnedDistributions
-2803000
CY2022Q1 etcg Investment Owned Balance Contracts Net Change In Unrealized Depreciation Appreciation
InvestmentOwnedBalanceContractsNetChangeInUnrealizedDepreciationAppreciation
0
CY2022Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
162740000
CY2022Q1 etcg Investment Owned Balance Contracts Net Realized Loss Gain
InvestmentOwnedBalanceContractsNetRealizedLossGain
0
CY2022Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
2127000
CY2022Q1 us-gaap Investment Owned Balance Contracts
InvestmentOwnedBalanceContracts
12066301.77387363
CY2022Q1 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
569530000
CY2022Q1 etcg Common Share Equivalent Of Etc
CommonShareEquivalentOfETC
0.8623
CY2021Q4 etcg Common Share Equivalent Of Etc
CommonShareEquivalentOfETC
0.8687
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q1 us-gaap Common Stock Shares Held In Employee Trust Shares
CommonStockSharesHeldInEmployeeTrustShares
3271674
CY2021Q4 us-gaap Common Stock Shares Held In Employee Trust Shares
CommonStockSharesHeldInEmployeeTrustShares
3271674
CY2022Q1 us-gaap Related Party Transaction Rate
RelatedPartyTransactionRate
0.030
CY2022Q1 etcg Number Of Incidental Rights Held
NumberOfIncidentalRightsHeld
0
CY2021Q4 etcg Number Of Incidental Rights Held
NumberOfIncidentalRightsHeld
0
CY2022Q1 etcg Number Of Incidental Rights Distributed In Payment Of Sponsors Fee
NumberOfIncidentalRightsDistributedInPaymentOfSponsorsFee
0
CY2021Q1 etcg Number Of Incidental Rights Distributed In Payment Of Sponsors Fee
NumberOfIncidentalRightsDistributedInPaymentOfSponsorsFee
0
CY2022Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2803471
CY2021Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
960601
CY2022Q1 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
0
CY2021Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
0
CY2022Q1 etcg Additional Trust Expenses Paid By Sponsor
AdditionalTrustExpensesPaidBySponsor
0
CY2021Q1 etcg Additional Trust Expenses Paid By Sponsor
AdditionalTrustExpensesPaidBySponsor
0
CY2021Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
29.12
CY2020Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
5.08
CY2022Q1 us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
-0.20
CY2021Q1 us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
-0.07
CY2022Q1 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
11.78
CY2021Q1 us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
7.01
CY2022Q1 us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
11.58
CY2021Q1 us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
6.94
CY2022Q1 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
40.70
CY2021Q1 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
12.02
CY2022Q1 etcg Investment Company Total Return1
InvestmentCompanyTotalReturn1
0.3977
CY2021Q1 etcg Investment Company Total Return1
InvestmentCompanyTotalReturn1
1.3661
CY2022Q1 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
-0.0300
CY2021Q1 us-gaap Investment Company Investment Income Loss Ratio
InvestmentCompanyInvestmentIncomeLossRatio
-0.0300
CY2022Q1 us-gaap Investment Company Expense Ratio Including Incentive Fee
InvestmentCompanyExpenseRatioIncludingIncentiveFee
0.0300
CY2021Q1 us-gaap Investment Company Expense Ratio Including Incentive Fee
InvestmentCompanyExpenseRatioIncludingIncentiveFee
0.0300
CY2022Q1 etcg Percentage Of Managers Fee
PercentageOfManagersFee
0.030

Files In Submission

Name View Source Status
0000950170-22-008004-index-headers.html Edgar Link pending
0000950170-22-008004-index.html Edgar Link pending
0000950170-22-008004.txt Edgar Link pending
0000950170-22-008004-xbrl.zip Edgar Link pending
etcg-20220331.htm Edgar Link pending
etcg-20220331.xsd Edgar Link pending
etcg-20220331_cal.xml Edgar Link unprocessable
etcg-20220331_def.xml Edgar Link unprocessable
etcg-20220331_htm.xml Edgar Link completed
etcg-20220331_lab.xml Edgar Link unprocessable
etcg-20220331_pre.xml Edgar Link unprocessable
etcg-ex31_1.htm Edgar Link pending
etcg-ex31_2.htm Edgar Link pending
etcg-ex32_1.htm Edgar Link pending
etcg-ex32_2.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
img25494745_0.jpg Edgar Link pending
img25494745_1.jpg Edgar Link pending
img25494745_2.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending