Grayscale submits an application to the U.S. SEC to register an Ethereum Mini Trust ETF
According to Mars Finance, Grayscale has submitted a document to the U.S. SEC applying for the registration of Grayscale Ethereum Mini Trust Fund (proposed code: ETH). The fund will be created by splitting and distributing assets from the Grayscale Ethereum Trust Fund (OTCQX: ETHE), with plans to list on NYSE Arca, subject to regulatory approval. Craig Salm, Chief Legal Officer at Grayscale, stated that if approved, the new Grayscale Ethereum Mini Trust Fund will be launched as a low-fee spot Ethereum ETF. Meanwhile, some of ETHE's Ether will be used to "seed" the new fund, and ETHE shareholders will receive shares of the new ETF proportionally. This split is expected not to generate taxable events for ETHE and its shareholders.
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