According to a filing with the US Securities and Exchange Commission (SEC), Grayscale plans to allocate a percentage of Ethereum Trust shares to create a new product.
It is expected to trade under the ticker symbol ETH on the NYSE Arca stock exchange, where both options and company shares are traded. If approved by the regulator, part of the funds of investors in the Grayscale Ethereum Trust fund will be transferred to the new fund. As stated in the filing, the overall Ether positions held through both funds will remain unchanged.
According to the Wall Street Journal, the Ethereum Mini Trust will likely have lower fees and switching to it will not result in paying capital gains taxes. This will make the fund attractive to investors. Currently, Ethereum Trust charges a 2.5% fee and manages assets totaling $9 billion.
Grayscale previously announced the launch of a “dynamic income fund” (GDIF), which will focus on investing in proof-of-stake digital assets.
Source: Bits
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