During the night a earthquake swarm started deep on the Reykjanes Ridge. This earthquake swarm is currently at distance of 730 to 735 km SW of Reykjavík. So it is clear that nobody is going to feel this earthquake swarm out in the deep ocean.
From this distance it is impossible to know if this is just a earthquake swarm or a volcano event. This distance also makes it close to impossible for the SIL network to locate this earthquakes with any details. But EMSC and USGS should show the largest earthquakes as they happen on the Reykjanes Ridge.
The largest earthquakes are appearing on my Hekla geophone, but just barely. Due to this large distance only long period seismometers are going to record those earthquakes properly.