Grayscale Ethereum Trust ETF 8-K

What Happened

• Grayscale Ethereum Trust ETF (ETHE) announced via an 8-K (filed Dec 23, 2025) that CoinDesk Indices, Inc. added Bitstamp by Robinhood ("Bitstamp") to the CoinDesk Ether Price Index (ETX) effective December 21, 2025.
• CoinDesk did not remove any existing constituent trading platforms in its scheduled quarterly review. As of the filing, the Index's constituent trading platforms are Coinbase, Kraken, Crypto.com, LMAX Digital, Gemini, and Bitstamp.

Key Details

• Filing date: December 23, 2025 (8-K, Item 8.01 — Other Events).
• Effective date of change: December 21, 2025.
• Reason given: Bitstamp met the Index Provider’s minimum liquidity requirement.
• Index Provider: CoinDesk Indices, Inc.; it conducts scheduled quarterly reviews and may add/remove venues or change how the Index Price is calculated.

Why It Matters

• The Trust’s market price and NAV reference the CoinDesk Ether Price Index; adding Bitstamp changes which trading venue prices feed into that Index Price.
• This is a routine index maintenance action (liquidity-based addition) rather than a change to the Trust itself, but investors should be aware that changes to constituent venues can affect price discovery and the Index Price used for valuation.
• No immediate operational or structural changes to the Trust were reported in the filing.