Grayscale Ethereum Mini Trust (ETH) Files Q2 2024 10-Q

TL;DR

**ETH 10-Q filed. Grayscale Investments active in July. Check for details.**

AI Summary

Grayscale Ethereum Mini Trust (ETH) filed its 10-Q for the period ending June 30, 2024. The filing details financial information and notes subsequent events, including actions by its sponsor, Grayscale Investments, LLC, on dates such as July 16, 2024, and July 23, 2024. The trust is incorporated in Delaware and has a fiscal year end of December 31.

Why It Matters

This filing provides investors with an update on the financial health and operational status of the Grayscale Ethereum Mini Trust, crucial for understanding the performance of their Ethereum holdings.

Risk Assessment

Risk Level: medium — The value of the trust is directly tied to the volatile price of Ethereum, and it is subject to regulatory and market risks associated with cryptocurrency investments.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the financial data presented is as of this date.)
• 20240830 — Filing Date (Shows when the report was officially submitted to the SEC.)

Key Players & Entities

• Grayscale Ethereum Mini Trust (ETH) (company) — Filer of the 10-Q
• Grayscale Investments, LLC (company) — Sponsor of the Trust
• 20240630 (date) — End of reporting period
• 20240830 (date) — Filing date
• July 16, 2024 (date) — Date of a subsequent event involving the sponsor
• July 23, 2024 (date) — Date of subsequent events involving the sponsor

FAQ

Key Financial Figures

• $2.0 billion — 's assets. If the Trust's assets exceed $2.0 billion prior to the end of the six-month perio

Filing Documents

• eth-20240630.htm (10-Q) — 347KB
• eth-ex31_1.htm (EX-31.1) — 20KB
• eth-ex31_2.htm (EX-31.2) — 20KB
• eth-ex32_1.htm (EX-32.1) — 7KB
• eth-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-102092.txt ( ) — 1468KB
• eth-20240630.xsd (EX-101.SCH) — 261KB
• eth-20240630_htm.xml (XML) — 90KB

Forward-Looking Statements

Forward-Looking Statements 3 Industry and Market Data 3

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 4 5 6 Notes to the Unaudited Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 11 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 13 Item 4.

Controls and Procedures

Controls and Procedures 13

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 14 Item 1A.

Risk Factors

Risk Factors 14 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 14 Item 3. Defaults Upon Senior Securities 14 Item 4. Mine Safety Disclosures 14 Item 5. Other Information 14 Item 6. Exhibits 15 GLOSSARY OF DEFINED TERMS 16

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains "forward-looking statements" with respect to the financial conditions, results of operations, plans, objectives, future performance and business of Grayscale Ethereum Mini Trust (ETH) (the "Trust"). Statements preceded by, followed by or that include words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of these terms and other similar expressions are intended to identify some of the forward-looking statements. All statements (other than statements of historical fact) included in this Quarterly Report that address activities, events or developments that will or may occur in the future, including such matters as changes in market prices and conditions, the Trust's operations, the plans of Grayscale Investments, LLC (the "Sponsor") and references to the Trust's future success and other similar matters are forward-looking statements. These statements are only predictions. Actual events or results may differ materially from such statements. These statements are based upon certain assumptions and analyses the Sponsor made based on its perception of historical trends, current conditions and expected future developments, as well as other factors appropriate in the circumstances. Whether or not actual results and developments will conform to the Sponsor's expectations and predictions, however, is subject to a number of risks and uncertainties, including, but not limited to, those described in "Risk Factors" of our Registration Statement on Form S-1, filed with the Securities and Exchange Commission (the "SEC") on July 18, 2024 (the "Registration Statement") and in "Part II, Item 1A. Risk Factors" herein. Forward-looking statements are made based on the Sponsor's beliefs, estimates and opinions on the date the statements are made and neither the Trust nor the Sponsor is under a duty or undertakes an obli

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION: Item1. Financial Statements (Unaudited) GRAYSCALE ETHEREUM MINI TRUST (ETH) June 30, 2024 Assets: Cash $ 100,000 Total assets $ 100,000 Liabilities: Total liabilities - Net assets $ 100,000 Shares issued and outstanding, no par value ( unlimited Shares authorized) 10,000 Net asset value per Share $ 10.00 See accompanying notes to the unaudited financial statements. 4 G RAYSCALE ETHEREUM MINI TRUST (ETH) For the Period from May 31, 2024 (Date of Seeding) to June 30, 2024 Increase (decrease) in net assets from operations: Net investment loss $ - Net realized gain (loss) on investment in Ether sold to pay expenses - Net realized gain (loss) on investment in Ether sold for redemption of Shares - Net change in unrealized appreciation (depreciation) on investment in Ether - Net increase (decrease) in net assets resulting from operations - Increase (decrease) in net assets from capital share transactions: Shares issued 100,000 Shares redeemed - Net increase (decrease) in net assets resulting from capital share transactions 100,000 Total increase (decrease) in net assets from operations and capital share transactions 100,000 Net assets: Beginning of period - End of period $ 100,000 Change in Shares outstanding: Shares outstanding at beginning of period - Shares issued 10,000 Shares redeemed - Net increase in Shares 10,000 Shares outstanding at end of period 10,000 See accompanying notes to the unaudited financial statements. 5 GRAYSCALE ETHEREUM MINI TRUST (ETH) For the Period from May 31, 2024 (Date of Seeding) to June 30, 2024 Cash provided by (used in) operating activities Net increase (decrease) in net assets resulting from operations $ - Net cash provided by (us

View Full Filing

View this 10-Q filing on SEC EDGAR