Questions regarding the ETHE/ETH spin-off?
Contact us at info@grayscale.com or call 866-775-0313 if you have any questions.
For brokers & shareholders:
- ETH Report of Organizational Actions Affecting Basis (Form 8937 Comparable Information)
Grayscale Ethereum Mini Trust
Grayscale's low-cost *
Ethereum Fund
$2.22
Market Price as of 09/17/2024
ETH
The Grayscale Ethereum Mini Trust (“ETH”) is not a fund registered under the Investment Company Act of 1940 and is not subject to regulation under the Investment Company Act of 1940, unlike most mutual funds or ETFs. ETH is not suitable for all investors. An investment in ETH is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment.
*Low cost based on gross expense ratio at 0% for the first 6 months of trading for the first $2.0 billion. After the fund reaches $2.0 billion in assets or after 6-month waiver period, the fee will be 0.15%. Brokerage fees and other expenses may still apply. See prospectus for additional fee waiver information.
Investment Strategy
Grayscale Ethereum Mini Trust (ETH) is solely and passively invested in Ether. Its investment objective is to reflect the value of Ether held by the Trust, less expenses and other liabilities.
Ethereum is a digital asset that is created and transmitted through the operations of the peer-to-peer Ethereum Network, a decentralized network of computers that operates on cryptographic protocols. The Ethereum Network allows people to exchange tokens of value, called Ether, which are recorded on a public transaction ledger known as a blockchain.
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Market Price
As of 09/17/2024
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1 Day Market Price Change
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Sponsor's Fee*
As of 09/17/2024
*The Sponsor has determined to waive a portion of the Sponsor’s Fee for the first 6 months beginning on the commencement of trading of the Shares on NYSE Arca, so that the fee will be 0% of the NAV of the Trust for the first $2.0 billion of the Trust’s assets. If the Trust’s assets exceed $2.0 billion prior to the end of the 6-month period, the Sponsor’s Fee charged on assets over $2.0 billion will be 0.15%. All investors will incur the same Sponsor’s Fee, which is the weighted average of those fee rates. After the 6-month waiver period is over, the Sponsor’s Fee will be 0.15%.
Why ETH?
Low Fee
ETH carries one of the lowest fees of all spot Ethereum funds in the US market, offering investors a low cost of ownership.
Low Share Price
ETH has one of the lowest share prices of all spot Ethereum funds in the US market, allowing investors to achieve more precise Ether exposure.
Specialist Sponsor
ETH is sponsored by Grayscale, one of the world’s leading crypto asset managers with a decade of experience operating crypto investment products.
Name
Grayscale Ethereum Mini Trust
Distribution Frequency
None
Ticker
ETH
Trust Inception Date
07/23/2024
Primary Listing Market
NYSE ARCA
CUSIP
38964R104
ISIN
US38964R1041
ETF Listing Date
07/23/2024
Key Fund Information
As of 09/17/2024
Assets Under Management (Non-GAAP)
$888,870,929.11
Sponsor
Grayscale Investments, LLC
Shares Outstanding
400,838,500
Index Provider
CoinDesk Indices, Inc.
Sponsor's Fee*
0.15%
Fund Administrator
BNY
Total Ether in Trust
377,710.9387
Digital Asset Custodian
Coinbase Custody Trust Company, LLC
Ether per Share
0.00094230
Marketing Agent
Foreside Fund Services, LLC
Base Currency
USD
*The Sponsor has determined to waive a portion of the Sponsor’s Fee for the first 6 months beginning on the commencement of trading of the Shares on NYSE Arca, so that the fee will be 0% of the NAV of the Trust for the first $2.0 billion of the Trust’s assets. If the Trust’s assets exceed $2.0 billion prior to the end of the 6-month period, the Sponsor’s Fee charged on assets over $2.0 billion will be 0.15%. All investors will incur the same Sponsor’s Fee, which is the weighted average of those fee rates. After the 6-month waiver period is over, the Sponsor’s Fee will be 0.15%.
Performance
Daily Performance
As of 09/17/2024
Net Asset Value (NAV) per Share
$2.22
ETX Index Price
$2,353.31
NAV per Share 1D Change ($)
$0.08
Daily Volume (Shares)*
12,385,567
NAV per Share 1D Change (%)
3.74%
Market Price 1D Change ($)
$0.08
Market Price
$2.22
Market Price 1D Change (%)
3.74%
Premium / Discount (%)
0.00%
GAAP AUM
$888,863,374.89
30D Median Bid/Ask Spread (%)
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GAAP NAV per Share
$2.22
*Trading generally takes place throughout the normal trading hours (typically 9:30am – 4:00pm EST). Daily volume shares is updated between 1am and 5am EST to reflect previous trading day activity.
Median 30 Day Spread is a calculation of ETH's median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
GAAP AUM and GAAP NAV Per Share represents the applicable Product’s principal market price and is calculated using a GAAP methodology. For additional information, see the applicable Product’s financial statements.
Since inception is the ETP listing date of 7/23/2024.
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Shares of any ETP are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may only be acquired or redeemed from the fund in creation units. Brokerage commissions will reduce returns. Benchmark Index refers to The CoinDesk Ether Price Index (ETX) which provides a USD-denominated reference rate for the spot price of Ether (ETH). The index leverages real-time prices from multiple constituent trading platforms to provide a representative spot price. Prior to 7/23/2024, Principal Market NAV per Share was referred to as NAV per Share and NAV per share was referred to as Digital Asset Holdings per Share. Our definitions and calculations of these non-GAAP measures may not be the same as similar measures reported by other Ethereum ETPs. Please refer to ETHE's filings with the Securities and Exchange Commission for additional information. NAV is the dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day using the 4PM ET index price. Market Price is the current price at which shares are bought and sold. Market returns are based upon the last trade price.
How to Invest in ETH
Grayscale Ethereum Mini Trust (Ticker: ETH) trades on NYSE Arca and is available through your brokerage account. To invest, click below to be redirected to brokerage platforms or search for ETH on your platform of choice.
FAQs
Have more questions? Please reach out to our Investor Relations team at info@grayscale.com