It appears that you can only grant this Permission to a Login or a Server role.
If you want to use a role, you cannot create new Server roles so you would have to use one of the existing Server roles.
If you try grant the permission to a user database role I got:
'Msg 4621, Level 16, State 10, Line 1
Permissions at the server scope can only be granted when the current database is master'
If you create a database role in the master database and try assigning the permission I got:
'Msg 15151, Level 16, State 1, Line 1
Cannot find the login 'traceAdmin', because it does not exist or you do not have permission.'
If you are using Windows Authentication, possibly use a Windows Security Group and give the Permission to the security group and add domain users to security group.