According to BlockBeats, on April 24, Grayscale has submitted a document to the U.S. Securities and Exchange Commission (SEC) to register a new Ethereum Exchange Traded Fund (ETF) - 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).

Grayscale's Chief Legal Officer, Craig Salm, stated that if approved by the regulatory authorities, the new Grayscale Ethereum Mini Trust Fund will be launched as a low-fee spot Ethereum ETF. Meanwhile, a portion of Ethereum from ETHE 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 a taxable event for ETHE and its shareholders.