Google Chrome Beta for Android has just been update to v39 with some new tweaks and Animations along with a new Reader Mode, kinda like the one on Safari.
On Google Chrome Beta v39 you'll notice two changes, the first being a slightly different Animation when closing a tab. The swipe animation now pulls the tab down and to the side as it fades. Before it just went to the side. The new Chrome Beta v39 also works in windowed mode on Android L preview. It's sort of like G+ and Newsstand.
The Major change is the addition of Reader Mode, which has popped up a few times in the past. Now it's an item in the menu on all pages to load up a version of the page that's just the text and in-line images. It has a little paw print next to it in the drop down, indicating this is still a BETA feature.
Reader Mode can also be accessed via a toolbar button after you enable a flag in the about://flags screen. Just enter the following on your address bar.
You can get the Chrome Beta v39 on your Android device right now by Downloading the APK below until the update hits the Google Play Store. The APK below is Official and has not been tempered with by any way.