Fri, Aug 30, 12:36 PM (11 days ago)
For the quarter ending June 30, 2024, Grayscale Ethereum Mini Trust (ETH) reported total assets of $100,000, entirely in cash, with no liabilities recorded. The Trust's net asset value (NAV) per share stood at $10.00, with 10,000 shares outstanding, reflecting a modest initial capital raise of $100,000 from the Sponsor. The Trust has not yet generated revenue or incurred operational expenses, as it is in the early stages of its establishment, having commenced operations on May 31, 2024. In a significant development, the Trust completed an Initial Distribution on July 23, 2024, where it received approximately 292,263 Ether from the Grayscale Ethereum Trust (ETHE) in exchange for 310,158,500 shares, enhancing its asset base. The Trust will waive its Sponsor's Fee for the first six months, promoting investor interest. Future operations will depend on market conditions, regulatory developments, and the Trust's ability to manage Ether effectively to align share value with underlying assets. Risks include market volatility and potential legal challenges impacting the Trust's operations.