Grayscale Ethereum Staking Mini ETF - Delayed Delivery Orders for Liquidity Management

This filing concerns the Grayscale Ethereum Staking Mini ETF and introduces a new mechanism for managing digital asset liquidity constraints through "Delayed Delivery Orders." Effective April 6, 2026, the sponsor, Grayscale Investments Sponsors, LLC, may arrange for the Trust to enter into these orders with participating Liquidity Providers. This allows for the delivery of digital assets on a delayed basis, specifically on the first Business Day when the staked digital assets become transferable. The Variable Fee paid by Authorized Participants will be adjusted to compensate the Liquidity Provider for this delayed settlement. These orders are intended to supplement the Trust's existing liquidity reserves and will only be used in unforeseen adverse liquidity events, after the primary liquidity sleeve is exhausted, and until it is replenished. The filing also notes that other arrangements for obtaining liquid digital assets may be made in the future. While these procedures aim to be consistent with NYSE Arca's listing standards and IRS procedures, there is no assurance they will provide sufficient liquidity. The filing includes the Form of Liquidity Provider Agreement as an exhibit, detailing the terms and conditions of these arrangements, including procedures, events of default, remedies, representations, warranties, and indemnification. The agreement outlines the roles and responsibilities of the Liquidity Engager, Liquidity Provider, and the Trust in managing digital asset transactions and mitigating liquidity risks.