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New York, December 2, 2020 (GLOBE NEWSWIRE) – Grayscale Investments®, the world’s largest digital currency asset manager and sponsor of Grayscale® Ethereum Trust (OTCQX: ETHE) (the “Trust”), announced today that it has declared a 9-for-1 split (the “share split”) of the undivided fractional beneficial interest common units issued and outstanding by the Trust (“Shares”). With the stock split, shareholders registered on 14 December 2020 (the “Record Date”) will receive 8 additional Shares in the Trust for each Share held.
The stock split will be made on December 17, 2020 to shareholders registered at the close of business on December 14, 2020. After the share split, the Trust’s shares will continue to be listed on the OTCQX under the symbol “ETHE”.
On the basis that the Trust has 29,502,100 Shares issued and outstanding and each Share representing 0.09284789 ownership of an Ethereum token as of the date of this press release, immediately upon the effective division of the shares on December 17th 2020, the Trust would have 265,518,900 Shares issued and outstanding and each Share would represent ownership of 0.01031643 of an Ethereum token.
The Trust may create new Shares after the date of this press release and up to the Record Date.
Shareholders are not required to take any action to receive Shares in connection with the Split Share and will not be required to dispose or exchange their Shares in the Trust. The transfer agent will automatically issue the new Shares in the split of the shares.
The transfer agent for the Trust Shares is Continental Stock Transfer & Trust Company. For questions regarding the transfer or the mechanisms of share distribution, shareholders may contact Continental Stock Transfer & Trust Company, 1 State Street, 30th Floor, New York, NY 10004-1561, or by telephone at: 800-509-5586 (Domestic callers) or 212-509-4000 (international callers). If the Shares are held by a bank, broker or other nominee, the shareholders should contact that institution directly.
Shareholders contemplating a transaction in the Trust Shares between the Record Date and the Payment Date should consult an intermediary regarding their right to split the shares.
About Grayscale Investments®
Grayscale Investments is the largest digital currency asset manager in the world, with over $ 12.2 billion in assets under management as of November 30, 2020. Through its family of 10 investment products, Grayscale provides access and exposure to the asset class in digital currency in the form of security without the challenges of buying, storing and directly custody of digital currencies. With a proven track record and unmatched experience, Grayscale’s products operate within existing regulatory frameworks, creating safe and compliant exposure for investors. For more information please visit www.grayscale.co or follow us on Twitter, @ Greyscale.
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