Grayscale Investments Sets July 18, 2024, as the Record Date for the Initial Issuance and Distribution of Shares of its New Grayscale Ethereum Mini Trust

This move is set to happen on the 18th of July, 2024 and will add to the firm's list of crypto investment products with existing shareholders expected to be affected.

Grayscale Investments, a leading crypto asset management firm, has announced the record date for the initial issuance and distribution of shares of its Grayscale Ethereum Mini Trust. This move will add to the firm’s roster of crypto investment products, and existing shareholders are set to be impacted by the development.

Grayscale Ethereum Mini ETF Record Date

According to a recent filing by Grayscale, July 18, 2024, will mark the record date for the initial creation and distribution of shares of the Grayscale Ethereum Mini Trust (ETH Trust) to shareholders of Grayscale Ethereum Trust (ETHE). This Initial Distribution will entitle each ETHE shareholder to receive shares of the ETH Trust in proportion to their ETHE holdings.

Specifically, ETHE will roll over 10% of its Ether holdings into the ETH Trust, and each ETHE share outstanding at 4:00 PM ET on the Record Date will be credited with one ETH Share.

The ETH Trust, which is sponsored by Grayscale and is a Delaware statutory trust, is expected to trade on the NYSE Arca under the ticker symbol “ETH,” subject to regulatory approval. This aligns with Grayscale’s ongoing efforts to expand the available rates of crypto investment products and enhance value for shareholders.

Mechanism and Stipulations

As per the preliminary information statement on Schedule 14C filed with the Securities and Exchange Commission (SEC), the Initial Distribution does not require any payment or action from ETHE shareholders. Once the distribution conditions are satisfied, each ETHE shareholder will automatically receive ETH Shares in their portfolios or investment accounts.

The Distribution Date will follow the occurrence of certain events, including the effectiveness of the registration statement of ETH Trust on Form 8-A and Form S-1 and the approval of NYSE Arca for the listing of the ETH Shares.

Thereafter, the earliest possible Distribution Date is set as the 19th day of July. However, due to the legal and procedural considerations, Grayscale noted that there is no assurance that the initial distribution will occur as projected.

Grayscale’s Filing for the Grayscale Ethereum Mini Trust

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