Today at 05:25 UTC a earthquake swarm started east of Grímsey island. But this island is located in the Tjörnes Fracture Zone. The largest earthquake today is a magnitude 2.8. No larger earthquakes have taken place so far.
Earthquake activity is common in this area of Iceland so this is nothing unusual. This earthquake swarm is not connected to any volcano activity that I know of. If anything major happens. I am going to write a blog post about it soon as I can do so.