There seems to be a growing earthquake swarm in Krísuvík volcano on the Reykjanes peninsula. The strongest earthquake so far is a ML2.2 according to the automatic size estimate. Some ghost earthquakes appear to be outside a town called Akranes and Reykjavík to the north. But that are earthquakes that are in fact nothing but errors. This earthquake swarm is tectonic in nature, not volcanic. So there is not going to be a eruption in Krísuvík volcano from what I can tell at current moment.
It is hard to know how this earthquake swarm is going to develop. But this earthquake swarm looks growing. For that it is going to peak in activity sometimes in the next few hours. But when exactly is hard to know for sure. I am going to update this blog post if something major happens. The strongest earthquakes appears on my geophone and can be viewed here.