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Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) reported an internal corporate reorganization involving its sponsor on Wednesday, according to a statement based on a Securities and Exchange Commission filing.
On October 22, GSO Intermediate Holdings Corporation, previously the sole managing member of Grayscale Operating, LLC—the sole member of Grayscale Investments Sponsors, LLC (the sponsor of the ETF)—completed a reorganization process. As part of this action, GSO Intermediate Holdings transferred a portion of its common membership units of Grayscale Operating, LLC for Class A shares of Grayscale Investments, Inc., a newly incorporated Delaware corporation. GSO Intermediate Holdings also ceded its managing member rights in Grayscale Operating, LLC to Grayscale Investments, Inc.
Following the reorganization, Grayscale Investments, Inc. became the sole managing member of Grayscale Operating, LLC, which remains the sole member of Grayscale Investments Sponsors, LLC. The sponsor continues to be responsible for the management of the Grayscale Ethereum Mini Trust ETF.
Also on October 22, DCG Grayscale Holdco, LLC, the sole stockholder of Grayscale Investments, Inc., elected a board of directors for Grayscale Investments, Inc. This board consists of Barry Silbert, Mark Shifke, Simon Koster, Peter Mintzberg and Edward McGee, who were also the board members of GSO Intermediate Holdings Corporation prior to the reorganization. Barry Silbert serves as the chairperson of the board. Peter Mintzberg and Edward McGee retain their existing authority as officers of the sponsor under the sponsor’s limited liability company agreement.
All entities involved in the reorganization—DCG Grayscale Holdco, LLC, Grayscale Investments, Inc., GSO Intermediate Holdings Corporation, Grayscale Operating, LLC, and Grayscale Investments Sponsors, LLC—are consolidated subsidiaries of Digital Currency Group, Inc.
According to the statement, the trust does not expect the reorganization to have any material impact on its operations.
This information is based on a press release statement included in the company’s recent SEC filing.
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