Grayscale Ethereum Staking ETF (ETHE): M&A transaction — Grayscale Ethereum Trust lists on NYSE Arca, starts redemption program, distributes mini trust shares

Grayscale Ethereum Staking ETF

Shares began trading on NYSE Arca under ticker ETHE on July 23; Mini Trust (ETH) also listed.
Redemption program commenced July 22; Authorized Participants (Jane Street, Virtu, Macquarie, ABN AMRO) can exchange Baskets for Ether via Cash Orders.
Completed pro rata distribution of 310.2M shares of Grayscale Ethereum Mini Trust to ETHE holders as of July 18; contributed ~292,263 Ether.
Terminated prior Participant and Distribution/Marketing agreements with affiliate Grayscale Securities.
In-kind creations/redemptions remain unavailable pending SEC approval of NYSE Arca rule change.

item 1.01 item 1.02 item 2.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Grayscale Ethereum Staking ETF completed a disposition involving Grayscale Ethereum Mini Trust (ETH) (closed 2024-07-23).

Action: disposition
Counterparty: Grayscale Ethereum Mini Trust (ETH)
Closing: 2024-07-23

Exact text from the filing

On July 23, 2024, the Trust completed its previously announced pro rata distribution of 310,158,500 shares of Grayscale Ethereum Mini Trust (ETH) (the “ETH Trust”) to shareholders of the Trust as of 4:00 PM ET on July 18, 2024 (the “Record Date”), as described in the Trust’s definitive information statement on Schedule 14C, filed with the SEC on July 18, 2024 (referred to as the “Initial Distribution”). In connection therewith, after 4:00 PM ET on July 22, 2024, the Trust contributed to the ETH Trust an amount of Ether equal to 10% of the total Ether held by the Trust as of the Record Date, equal to approximately 292,262.98913350 Ether, as consideration and in exchange for the issuance of shares of the ETH Trust.

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Grayscale Ethereum Staking ETF filing history →

Source: SEC EDGAR

accession 0000950170-24-086033

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