[8-K] Grayscale Ethereum Mini Trust ETF Reports Material Event

Rhea-AI Filing Summary

Grayscale Ethereum Mini Trust ETF (NYSE:ETH) filed an 8-K announcing the addition of LMAX Digital to its CoinDesk Ether Price Index (ETX) effective June 22, 2025. The addition was made during the Index Provider's quarterly review after LMAX Digital met minimum liquidity requirements.

The Index now includes five Constituent Trading Platforms: Coinbase, Kraken, Crypto.com, Bullish, and LMAX Digital. No existing platforms were removed during this review. This index is crucial as it determines the Trust's ETF pricing mechanism.

Positive

• Addition of LMAX Digital expands price sources to 5 major trading platforms
• All existing trading platforms maintained their qualification status
• Regular quarterly review process demonstrates strong governance

Negative

• None.

Insights

ETF Market Structure Analyst

Addition of LMAX Digital enhances price discovery robustness and market depth for the Ethereum Mini Trust ETF.

The expansion to include LMAX Digital as the fifth constituent trading platform represents a strategic enhancement to the ETF's pricing mechanism. LMAX Digital's institutional focus and significant trading volumes should contribute to more reliable price formation. The maintenance of all existing platforms while adding a new one suggests strong market quality across current constituents, which is positive for the ETF's operational stability.

The quarterly review process demonstrates proper governance and ongoing monitoring of trading venue quality, which is crucial for maintaining fair and accurate ETF pricing.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 22, 2025

Grayscale Ethereum Mini Trust ETF

(Exact name of Registrant as Specified in Its Charter)

Delaware			001-42184	99-6447880
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
c/o Grayscale Investments Sponsors, LLC 290 Harbor Drive, 4th Floor
Stamford, Connecticut				06902
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 212 668-1427

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

	☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Grayscale Ethereum Mini Trust ETF Shares		ETH		NYSE Arca, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events.

CoinDesk Indices, Inc. (the “Index Provider”) announced a change to the Constituent Trading Platforms used to derive the Index Price for Grayscale Ethereum Mini Trust ETF (the “Trust”). Effective June 22, 2025, the Index Provider added LMAX Digital to the CoinDesk Ether Price Index (ETX) (the “Index”) due to the trading platform meeting the Index Provider’s minimum liquidity requirement, and did not remove any Constituent Trading Platforms as part of its scheduled quarterly review. As of the date of this current report, the Digital Asset Trading Platforms included in the Index are Coinbase, Kraken, Crypto.com, Bullish and LMAX Digital.

The Index Provider may change the trading venues that are used to calculate the Index Price, or otherwise change the way in which an Index Price is calculated, at any time. The Index Provider has scheduled quarterly reviews, in which it may add or remove Constituent Trading Platforms that satisfy or fail the criteria described in “Item 1. Business—Overview of the Ethereum Industry and Market—Ether Value—The Index and the Index Price” in the Trust’s Annual Report on Form 10-K for the period ended December 31, 2024, as filed with the Securities and Exchange Commission on February 27, 2025.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			Grayscale Investments Sponsors, LLC, as Sponsor of Grayscale Ethereum Mini Trust ETF
Date:	June 25, 2025	By:	/s/ Edward McGee
			Name: Edward McGee Title: Chief Financial Officer*

* The Registrant is a trust and the identified person signing this report is signing in their capacity as an authorized officer of Grayscale Investments Sponsors, LLC, the Sponsor of the Registrant.

FAQ

What changes were made to Grayscale Ethereum Mini Trust ETF's price index?

LMAX Digital was added to the CoinDesk Ether Price Index (ETX) on June 22, 2025, after meeting minimum liquidity requirements. No existing platforms were removed.

Which trading platforms are now included in ETH's index calculation?

The index now includes five platforms: Coinbase, Kraken, Crypto.com, Bullish, and LMAX Digital.

How often does Grayscale review its ETH index constituents?

The Index Provider conducts quarterly reviews to evaluate trading platforms against their criteria for inclusion or removal from the index.

Who provides the index for Grayscale Ethereum Mini Trust ETF?

CoinDesk Indices, Inc. serves as the Index Provider and maintains the CoinDesk Ether Price Index (ETX) used by the Trust.