GRAYSCALE ETHEREUM TRUST (ETH) : Other Events, Financial Statements and Exhibits (form 8-K)

Item 8.01 Other Events.

On March 2, 2022, the board (the “Board”) of Grayscale Investments, LLC, the
sponsor (the “Sponsor”) of Grayscale Ethereum Trust (ETH) (the “Trust”),
approved the purchase by Digital Currency Group, Inc. (“DCG”), the parent
company of the Sponsor, of up to an aggregate total of $200 million worth of
shares of the Trust and shares of any of the following five investment products
the Sponsor also acts as the sponsor and manager of, including Grayscale Bitcoin
Trust (BTC) (OTCQX: GBTC), Grayscale Bitcoin Cash Trust (BCH) (OTCQX: BCHG),
Grayscale Digital Large Cap Fund LLC (OTCQX: GDLC), Grayscale Ethereum Classic
Trust (ETC) (OTCQX: ETCG), and Grayscale Stellar Lumens Trust (XLM) (OTCQX:
GXLM). Subsequently, DCG authorized such purchase. DCG plans to use cash on hand
to fund the purchases and will make the purchases on the open market, at
management’s discretion, in compliance with Rule 10b-18 under the Securities
Exchange Act of 1934 (the “Exchange Act”). The share purchase authorization does
not obligate DCG to acquire any specific number of shares in any period, and may
be expanded, extended, modified, or discontinued at any time. The actual timing,
amount and value of share purchases will depend entirely upon a number of
factors, including the levels of cash available, price, and prevailing market
conditions. DCG will not effect any purchases while the Trust is engaged in
private placement activities or immediately prior to the commencement of such
activities. Information regarding stock purchases will be available in the
Trust’s periodic reports filed with the Securities and Exchange Commission on
Forms 10-K and 10-Q as required by the applicable rules of the Exchange Act. A
copy of the press release announcing DCG’s plan to purchase shares of the Trust
is attached to this Report as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.                                 Description

99.1            Press Release Announcing Digital Currency Group's Plan to Purchase
              Shares of Grayscale Ethereum Trust (OTCQX: ETHE)
104           Cover Page Interactive Data File (the cover page XBRL tags are embedded
              within the inline XBRL document)

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