According to BlockBeats, on April 24, Grayscale submitted documents to the U.S. Securities and Exchange Commission (SEC) to apply for registration of a new Ethereum exchange-traded fund (ETF) - 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).
Grayscale Chief Legal Officer Craig Salm said that if approved by regulators, the new Grayscale Ethereum Mini Trust will be launched as a low-fee spot Ethereum ETF. 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 split is not expected to generate taxable events for ETHE and its shareholders.
