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

Odaily News Grayscale has submitted documents to the U.S. SEC to apply for registration of the Grayscale Ethereum Mini Trust (proposed code: ETH). The fund will be created by splitting and allocating assets from the Grayscale Ethereum Trust (OTCQX: ETHE) and is planned 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 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 a share of the new ETF in proportion. This spin-off is not expected to result in a taxable event for ETHE and its shareholders.