Grayscale Ethereum Trust Files 8-K

TL;DR

Grayscale Ethereum Trust (ETH) filed an 8-K on 6/11/24, reporting material agreements and shareholder votes.

AI Summary

On June 11, 2024, Grayscale Ethereum Trust (ETH) filed an 8-K report. The filing indicates the company entered into a material definitive agreement and submitted matters to a vote of security holders. It also includes financial statements and exhibits.

Why It Matters

This 8-K filing signals significant corporate actions and financial updates for Grayscale Ethereum Trust, potentially impacting investors and the broader cryptocurrency market.

Risk Assessment

Risk Level: low — This is a routine regulatory filing (8-K) that reports on corporate events and does not inherently introduce new financial risks.

Key Players & Entities

• Grayscale Ethereum Trust (ETH) (company) — Registrant
• June 11, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• 212 668-1427 (phone_number) — Registrant's Telephone Number

FAQ

Filing Documents

• ethe-20240611.htm (8-K) — 61KB
• ethe-ex4_1.htm (EX-4.1) — 508KB
• 0000950170-24-072430.txt ( ) — 752KB
• ethe-20240611.xsd (EX-101.SCH) — 28KB
• ethe-20240611_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On June 12, 2024, following approval of the Proposals (as defined below), Grayscale Investments, LLC, the sponsor (the "Sponsor") of Grayscale Ethereum Trust (ETH) (the "Trust"), and CSC Delaware Trust Company, the trustee (the "Trustee") of the Trust, entered into the Second Amended and Restated Declaration of Trust and Trust Agreement, dated as of June 12, 2024 (the "Second A&R Trust Agreement"). The amendments implemented by the Second A&R Trust Agreement are described in the Trust's Consent Solicitation Statement included in its definitive proxy statement on Schedule 14A, filed with the Securities and Exchange Commission on May 22, 2024 (the "Consent Solicitation Statement"). The foregoing description of the Second A&R Trust Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Second A&R Trust Agreement, a copy of which is attached hereto as Exhibit 4.1 and incorporated herein by reference.

07. Submission of Matters to a Vote of Security Holders

Item 5.07. Submission of Matters to a Vote of Security Holders. On May 22, 2024, the Sponsor solicited the consent of the shareholders of the Trust (the "Consent Solicitation") to approve three proposals to amend the Amended and Restated Declaration of Trust and Trust Agreement (as amended, the "Trust Agreement") between the Sponsor and the Trustee, all of which were approved by the requisite majority of outstanding shares held by the Trust's shareholders as of the record date for the Consent Solicitation. The proposals are described in more detail in the Consent Solicitation Statement. Proposal 1: The proposal to approve amendments to the Trust Agreement providing the Trust with alternative procedures for the creation and redemption of Baskets (as defined in the Trust Agreement) ( "Proposal 1") was approved based on the following votes: For Against Abstain 24,769,969 2,084,064 430,362 Proposal 2: The proposal to approve amendments to the Trust Agreement providing that the Sponsor's Fee (as defined in the Trust Agreement) be payable to the Sponsor daily in arrears ("Proposal 2") was approved based on the following votes: For Against Abstain 22,618,123 4,021,683 644,589 Proposal 3: The proposal to approve amendments to the Trust Agreement permitting a portion of the Trust Estate (as defined in the Trust Agreement) to be held from time to time in one or more omnibus accounts in order to facilitate the creation and redemption of shares of the Trust ("Proposal 3" and, together with Proposal 1 and Proposal 2, the "Proposals"), was approved based on the following votes: For Against Abstain 24,492,760 2,345,641 445,994 As described in the Consent Solicitation Statement, under the terms of the Trust Agreement, any shareholders that did not, within twenty (20) calendar days of the date of the Consent Solicitation Statement, notify the Sponsor in writing that they objected to one or more of the Proposals were deemed to conse

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 4.1 Second Amended and Restated Declaration of Trust and Trust Agreement 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)

SIGNATURES

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, LLC, as Sponsor of Grayscale Ethereum Trust (ETH) Date: June 12, 2024 By: /s/ Edward McGee Edward McGee 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, LLC, the Sponsor of the Registrant.

View Full Filing

View this 8-K filing on SEC EDGAR