(Amounts in thousands, except Ethereum amounts)

Ethereum

Fair Value

Balance at January 1, 2021

2,937,122.40311770

$

2,188,127

ETH contributed

255,555.46585612

434,615

ETH distributed for Sponsor's Fee, related party

(78,145.77143476

)

(217,445

)

Net change in unrealized appreciation on investment in ETH

-

8,760,878

Net realized gain on investment in ETH

-

185,516

Balance at December 31, 2021

3,114,532.09753906

11,351,691

ETH contributed

-

-

ETH distributed for Sponsor's Fee, related party

(38,374.61769221

)

(98,957

)

Net change in unrealized depreciation on investment in ETH

-

(8,198,749

)

Net realized gain on investment in ETH

-

82,834

Balance at June 30, 2022

3,076,157.47984685

$

3,136,819