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 swarm in TFZ today. Copyright of this image belongs to Icelandic Meteorological Office.
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.
There has just been a magnitude 3.5 quake just South of this activity at 18:18 today. As you say this is not uncommon in this tectonic active region without volcanic activity, but to the East of the last significant earthquake swarm.