Fair Value of Investments in Digital Assets

6 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value of Investments in Digital Assets

3. Fair Value of Investments in Digital Assets

The Fund Components are held by the Custodian on behalf of the Fund and are carried at fair value. The following table represents the fair value of each Fund Component using the price provided at 4:00 p.m., New York time, by the relevant Digital Asset Trading Platform Market considered to be its principal market, as determined by the Fund:

Fund Component	Principal Market	December 31, 2024		June 30, 2024
Bitcoin	Coinbase	$	93,390.22	$	61,929.29
Ether	Crypto.com	$	3,340.40	$	3,423.00
SOL	Coinbase	$	193.69	$	144.62
XRP	Coinbase	$	2.10	$	0.47
AVAX	Coinbase	$	35.81	$	28.47

The following represents the changes in quantity of each Fund Component and their respective fair values:

(Amounts in thousands, except Bitcoin amounts)	Quantity			Fair Value
Bitcoin balance at June 30, 2023		6,230.97866186		$	189,185
Bitcoin contributed		-			-
Bitcoin distributed from portfolio rebalancing		(87.42054382	)		(2,751	)
Bitcoin distributed for Manager’s Fee, related party		(153.06326914	)		(6,964	)
Net change in unrealized appreciation on investment in Bitcoin		-			180,523
Net realized gain on investment in Bitcoin		-			10,994
Bitcoin balance at June 30, 2024		5,990.49484890		$	370,987
Bitcoin contributed		-			-
Bitcoin distributed from portfolio rebalancing		(13.70617168	)		(841	)
Bitcoin distributed for Manager’s Fee, related party		(74.68474065	)		(5,389	)
Net change in unrealized appreciation on investment in Bitcoin		-			181,302
Net realized gain on investment in Bitcoin		-			5,140
Bitcoin balance at December 31, 2024		5,902.10393657		$	551,199

(Amounts in thousands, except Ether amounts)	Quantity			Fair Value
Ether balance at June 30, 2023		39,445.13266916		$	75,964
Ether contributed		-			-
Ether distributed from portfolio rebalancing		(1,925.59571086	)		(3,779	)
Ether distributed for Manager’s Fee, related party		(941.94243493	)		(2,337	)
Net change in unrealized appreciation on investment in Ether		-			50,085
Net realized gain on investment in Ether		-			5,272
Ether balance at June 30, 2024		36,577.59452337		$	125,205
Ether contributed		-			-
Ether distributed from portfolio rebalancing		(169.73986727	)		(531	)
Ether distributed for Manager’s Fee, related party		(455.05527929	)		(1,340	)
Net change in unrealized appreciation on investment in Ether		-			(4,796	)
Net realized gain on investment in Ether		-			1,558
Ether balance at December 31, 2024		35,952.79937681		$	120,096

(Amounts in thousands, except SOL amounts)	Quantity			Fair Value
SOL balance at June 30, 2023		123,915.89529091		$	2,366
SOL contributed		-			-
SOL contributed from portfolio rebalancing		14,724.90144955			1,274
SOL distributed for Manager’s Fee, related party		(3,292.00953097	)		(292	)
Net change in unrealized appreciation on investment in SOL		-			16,330
Net realized loss on investment in SOL		-			(104	)
SOL balance at June 30, 2024		135,348.78720949		$	19,574
SOL contributed		-			-
SOL contributed from portfolio rebalancing		6,416.33492027			960
SOL distributed for Manager’s Fee, related party		(1,760.04772508	)		(302	)
Net change in unrealized appreciation on investment in SOL		-			6,798
Net realized gain on investment in SOL		-			87
SOL balance at December 31, 2024		140,005.07440468		$	27,117

(Amounts in thousands, except XRP amounts)	Quantity			Fair Value
XRP balance at June 30, 2023		-		$	-
XRP contributed		-			-
XRP contributed from portfolio rebalancing		16,922,626.498281			9,882
XRP distributed for Manager’s Fee, related party		(203,318.578941	)		(111	)
Net change in unrealized depreciation on investment in XRP		-			(1,847	)
Net realized loss on investment in XRP		-			(7	)
XRP balance at June 30, 2024		16,719,307.919340		$	7,917
XRP contributed		-			-
XRP contributed from portfolio rebalancing		371,106.262575			199
XRP distributed for Manager’s Fee, related party		(212,065.982423	)		(196	)
Net change in unrealized appreciation on investment in XRP		-			27,452
Net realized gain on investment in XRP		-			73
XRP balance at December 31, 2024		16,878,348.199492		$	35,445

(Amounts in thousands, except AVAX amounts)	Quantity			Fair Value
AVAX balance at June 30, 2023		-		$	-
AVAX contributed		-			-
AVAX contributed from portfolio rebalancing		116,340.93500452			4,338
AVAX distributed for Manager’s Fee, related party		(1,385.27021072	)		(53	)
Net change in unrealized depreciation on investment in AVAX		-			(1,014	)
Net realized gain on investment in AVAX		-			2
AVAX balance at June 30, 2024		114,955.66479380		$	3,273
AVAX contributed		-			-
AVAX contributed from portfolio rebalancing		7,830.25602469			213
AVAX distributed for Manager’s Fee, related party		(1,511.84473304	)		(46	)
Net change in unrealized depreciation on investment in AVAX		-			913
Net realized loss on investment in AVAX		-			(10	)
AVAX balance at December 31, 2024		121,274.07608545		$	4,343

(Amounts in thousands, except ADA amounts)	Quantity			Fair Value
ADA balance at June 30, 2023		11,194,902.551275		$	3,195
ADA contributed		-			-
ADA distributed from portfolio rebalancing		(10,984,888.769029	)		(6,478	)
ADA distributed for Manager’s Fee, related party		(210,013.782246	)		(89	)
Net change in unrealized appreciation on investment in ADA		-			12,051
Net realized loss on investment in ADA		-			(8,679	)
ADA balance at June 30, 2024		-		$	-

(Amounts in thousands, except MATIC amounts)	Quantity			Fair Value
MATIC balance at June 30, 2023		2,926,029.61320324		$	1,922
MATIC contributed		-			-
MATIC distributed from portfolio rebalancing		(2,887,850.26244458	)		(2,486	)
MATIC distributed for Manager’s Fee, related party		(38,179.35075866	)		(26	)
Net change in unrealized appreciation on investment in MATIC		-			565
Net realized gain on investment in MATIC		-			25
MATIC balance at June 30, 2024		-		$	-