Brad Thomas

Cristina Fernandez

Andrew Efimoff

Bobby Griffin

Joe Feldman

- Grayscale Ethereum Mini Trust ETF (ETH) entered into a new **Coinbase Prime Broker Agreement** on **October 3, 2025**, which includes custodial and prime broker services for the Trust's Ether.  **[2020455_0001193125-25-231013_eth-20251003.htm:1]** 
- The agreement incorporates an **ETP Staking Addendum** that outlines terms for staking Digital Assets, defining concepts such as "**Rewards**" and "**Slashing**".  **[2020455_0001193125-25-231013_eth-ex10_2.htm:0]** **[2020455_0001193125-25-231013_eth-20251003.htm:1]** 
- **Coinbase Custody Trust Company, LLC** continues to serve as a fiduciary and qualified custodian, holding the Trust's Digital Assets in segregated accounts.  **[2020455_0001193125-25-231013_eth-20251003.htm:1]** **[2020455_0001193125-25-231013_eth-ex10_1.htm:29]** 
- The Trust is currently limited to creating or redeeming shares through **Cash Orders** only, as in-kind transactions with Authorized Participants are not permitted without regulatory approval.  **[2020455_0001193125-25-231013_eth-ex99_1.htm:8]** 
- The Sponsor is filing **supplemental disclosures** to the Trust's Annual Report to update information regarding these developments.  **[2020455_0001193125-25-231013_eth-20251003.htm:4]**

Grayscale Ethereum Mini Trust ETF Enters New Prime Broker Agreement with Coinbase

- The Grayscale Ethereum Mini Trust ETF has added **supplemental disclosures** to its Annual Report concerning the risks and conditions for **Staking**.  **[2020455_0001193125-25-220476_eth-ex99_1.htm:0]** 
- As of the date of the annual report, the Trust is **prohibited from engaging in Staking** because the **Staking Condition has not been met**, and there is no assurance as to when or if it will be met in the future.  **[2020455_0001193125-25-220476_eth-ex99_1.htm:0]** 
- Risks associated with Staking include potential losses for validators, liquidity risks due to the inaccessibility of staked Ether for variable periods, and an uncertain regulatory landscape.  **[2020455_0001193125-25-220476_eth-ex99_1.htm:0]** **[2020455_0001193125-25-220476_eth-ex99_1.htm:17]** 
- If the Staking Condition is satisfied, U.S. Holders would be treated as directly realizing their pro rata share of staking income, and Non-U.S. Holders may be subject to U.S. federal withholding tax on staking rewards.  **[2020455_0001193125-25-220476_eth-ex99_1.htm:12]** **[2020455_0001193125-25-220476_eth-ex99_1.htm:27]**