Grayscale Investments has set July 18, 2024, as the record date for the initial distribution of shares in the new Grayscale Ethereum Mini Trust.

Shareholders of the existing Grayscale Ethereum Trust will receive shares on a 1:1 basis.

The distribution will transfer 10% of the ether held by the original trust to the new mini trust, pending regulatory approval.

The new trust, trading under the ticker symbol “ETH” on NYSE Arca, aims to provide an additional investment vehicle for Ethereum (CRYPTO:ETH) investors.

If all conditions are met, the distribution will occur no sooner than July 19, 2024, and is designed to be tax-neutral for shareholders.

Grayscale will update shareholders on the distribution date and regulatory developments as they occur.