In order to create this new offering, Grayscale intends to allocate a portion of Ethereum Trust shares, as outlined in a filing with the US Securities and Exchange Commission (SEC). The Ethereum Mini Trust is expected to be listed on the NYSE Arca stock exchange under the ticker symbol ETH, which is where options and company shares are traded.
If granted regulatory approval, a portion of funds from investors in the Grayscale Ethereum Trust will be transferred to the new trust. The overall amount of Ether held across both funds will remain unaffected, as stated in the filing.
The Wall Street Journal further noted that the Ethereum Mini Trust is expected to have lower fees compared to its predecessor, making it an attractive option for investors interested in minimizing capital gains taxes. Currently, the Ethereum Trust charges a 2.5% fee and has approximately $9 billion in assets under management.
Grayscale had previously disclosed plans for the launch of the “dynamic income fund” (GDIF), which will primarily focus on investments in proof-of-stake digital assets.