Grayscale submits application to US SEC to register Ethereum Mini Trust ETF

Odaily Odaily News Grayscale submitted documents to the U.S. SEC to apply for registration of the Grayscale Ethereum Mini Trust Fund (proposed code: ETH). The fund will be created by splitting and allocating assets from the Grayscale Ethereum Trust Fund (OTCQX: ETHE) and plans to be listed on NYSE Arca, subject to regulatory approval. Grayscale Chief Legal Officer Craig Salm said that if approved, the new Grayscale Ethereum Mini Trust Fund will be launched as a low-fee spot Ethereum ETF. At the same time, part of ETHE's Ethereum will be used to "seed" the new fund, and ETHE shareholders will receive shares of the new ETF in proportion. This split is not expected to result in a taxable event for ETHE and its shareholders.