Grayscale Ethereum Mini Trust ETF

The Trust is an investment trust, formed on December 13, 2017 under the Delaware Statutory Trust Act pursuant to the Trust Agreement. Grayscale Investments Sponsors, LLC is the Sponsor. CSC Delaware Trust Company (formerly known as Delaware Trust Company) is the Trustee. Foreside Fund Services, LLC is the Marketing Agent. Coinbase Custody Trust Company, LLC is the Custodian. The Trust’s purpose is to hold Ether, which are digital assets that are created and transmitted through the operations of the peer-to-peer Ethereum Network, a decentralized network of computers that operates on cryptographic protocols. The Trust issues Shares only in one or more blocks of 10,000 Shares (a block of Shares is called a “Basket”) to certain authorized participants (“Authorized Participants”) from time to time. Baskets are offered in exchange for Ether (or cash to acquire Ether). Through its redemption program, the Trust redeems Shares from Authorized Participants on an ongoing basis. The Trust’s investment objective is for the value of the Shares (based on Ether per Share) to reflect the value of Ether held by the Trust less the Trust’s expenses and other liabilities. The Trust is not actively managed and does not take any actions to take advantage, or mitigate the impacts, of volatility in the price of Ether.

Proposal 1