Grayscale Targets July 18 for Potential ETH ETF Creation

ETHE holders will receive shares of the ETH Trust at a 1-to-1 ratio.

Grayscale, one of the largest crypto asset management companies, announced it plans to create and distribute the Grayscale Ethereum Mini Trust, known as the ETH Trust, on July 18. .

ETH Trust shares will be distributed to holders of its original Ethereum trust product, ETHE, with the intention to list the ETH Trust under the ticker ETH on NYSE Arca. Holders of ETHE will be entitled to receive ETH Shares at a 1:1 ratio at 4:00 pm ET on July 18.

the-defiant — Distribution Table - Grayscale

The announcement comes as the launch of spot Ethereum ETF’s appears imminent. On July 8, ETH ETF applicants submitted their amended S-1 filings, placing the ball in the Securities and Exchanges Commission’s (SEC) court.

Despite the anticipation surrounding the S-1 filings, issuers are expected to receive more paperwork prior to the official trading of ETH ETFs. Bloomberg analyst Eric Balchunas took to social media and said, “they will give guidance back to issuers soon along with the game plan. Then the docs will come back with fees (and every other blank) filled and then it's go time.”

Balchunas continued in the thread stating, “we don't have a new over/under launch date yet because we haven't heard what the SEC's game plan is. Hope to hear soon. But if you forced me (to) gun to head style to give my best guess for (the) date I'd go with July 18th.”

The Ethereum price has trended downwards over the last month, and is at the same level it was at prior to the announcement that the ETH ETFs were expected to be approved.