Grayscale submits documents to the SEC to apply for the registration of the Ethereum Mini Trust ETF

ChainCatcher news, Grayscale has submitted documents to the U.S. Securities and Exchange Commission (SEC) to register a new Ethereum exchange-traded fund (ETF) ------ Grayscale Ethereum Trust Mini Fund (proposed code: ETH). The fund will be created by splitting and allocating assets from the Grayscale Ethereum Trust (OTCQX: ETHE).

Grayscale's Chief Legal Officer Craig Salm stated that if approved by regulators, the new Grayscale Ethereum Mini Trust will be launched as a low-fee spot Ethereum ETF. Meanwhile, a portion of the Ethereum from ETHE will be used to "seed" the new fund, and ETHE shareholders will receive shares of the new ETF on a pro-rata basis. This split is expected to not result in a taxable event for ETHE and its shareholders.