Fair Value of Investments in Digital Assets (Tables)

3 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Summary of Fair Value of Each Fund Component

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	September 30, 2025		June 30, 2025
Bitcoin	Crypto.com	$	114,401.99	$	107,753.95
Ether	Crypto.com	$	4,161.61	$	2,516.23
XRP	Coinbase	$	2.86	$	2.32
SOL	Coinbase	$	208.92	$	157.80
ADA	Coinbase	$	0.80	$	0.59

Changes in Quantity of Each Fund Component and Their Respective Fair Values

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, 2024		5,990.49484890		$	370,987
Bitcoin contributed		-			-
Net Bitcoin distributed from portfolio rebalancing		(86.13516106	)		(7,792	)
Bitcoin distributed for Manager's Fee, related party		(146.61647351	)		(12,294	)
Net change in unrealized appreciation on investment in Bitcoin		-			252,302
Net realized gain on investment in Bitcoin		-			17,216
Bitcoin balance at June 30, 2025		5,757.74321433		$	620,419
Bitcoin contributed		43.21575624			4,721
Bitcoin redeemed		(986.81319085	)		(110,692	)
Net Bitcoin distributed from portfolio rebalancing		(11.31358359	)		(1,320	)
Bitcoin distributed for Manager’s Fee, related party		(32.41528405	)		(3,713	)
Net change in unrealized appreciation on investment in Bitcoin		-			(66,617	)
Net realized gain on investment in Bitcoin sold for rebalancing		-			1,181
Net realized gain on investment in Bitcoin sold to pay expenses		-			3,307
Net realized gain on investment in Bitcoin sold for redemption of Shares		-			98,459
Bitcoin balance at September 30, 2025		4,770.41691208		$	545,745

(Amounts in thousands, except Ether amounts)	Quantity			Fair Value
Ether balance at June 30, 2024		36,577.59452337		$	125,205
Ether contributed		-			-
Net Ether distributed from portfolio rebalancing		(677.32474886	)		(2,176	)
Ether distributed for Manager's Fee, related party		(892.53888068	)		(2,404	)
Net change in unrealized appreciation on investment in Ether		-			(36,331	)
Net realized gain on investment in Ether		-			3,794
Ether balance at June 30, 2025		35,007.73089383		$	88,088
Ether contributed		262.18571424			1,056
Ether redeemed		(5,986.89793031	)		(24,862	)
Net Ether distributed from portfolio rebalancing		(144.54990172	)		(541	)
Ether distributed for Manager’s Fee, related party		(196.82167784	)		(766	)
Net change in unrealized appreciation on investment in Ether		-			34,484
Net realized gain on investment in Ether sold for rebalancing		-			468
Net realized gain on investment in Ether sold to pay expenses		-			666
Net realized gain on investment in Ether sold for redemption of Shares		-			21,851
Ether balance at September 30, 2025		28,941.64709820		$	120,444

(Amounts in thousands, except XRP amounts)	Quantity			Fair Value
XRP balance at June 30, 2024		16,719,307.919340		$	7,917
XRP contributed		-			-
Net XRP contributed from portfolio rebalancing		573,017.276190			648
XRP distributed for Manager's Fee, related party		(421,555.293104	)		(695	)
Net change in unrealized appreciation on investment in XRP		-			30,822
Net realized gain on investment in XRP		-			448
XRP balance at June 30, 2025		16,870,769.902426		$	39,140
XRP contributed		128,423.038068			358
XRP redeemed		(2,932,484.796374	)		(8,383	)
Net XRP contributed from portfolio rebalancing		205,224.496447			629
XRP distributed for Manager’s Fee, related party		(95,819.888766	)		(284	)
Net change in unrealized appreciation on investment in XRP		-			2,335
Net realized gain on investment in XRP sold for rebalancing		-			-
Net realized gain on investment in XRP sold to pay expenses		-			223
Net realized gain on investment in XRP sold for redemption of Shares		-			6,525
XRP balance at September 30, 2025		14,176,112.751801		$	40,543

(Amounts in thousands, except SOL amounts)	Quantity			Fair Value
SOL balance at June 30, 2024		135,348.78720949		$	19,574
SOL contributed		-			-
Net SOL contributed from portfolio rebalancing		16,607.55009890			2,425
SOL distributed for Manager's Fee, related party		(3,556.38124866	)		(597	)
Net change in unrealized appreciation on investment in SOL		-			1,849
Net realized gain on investment in SOL		-			166
SOL balance at June 30, 2025		148,399.95605973		$	23,417
SOL contributed		1,168.80868332			235
SOL redeemed		(26,689.24318586	)		(5,736	)
Net SOL contributed from portfolio rebalancing		7,001.82661641			1,229
SOL distributed for Manager’s Fee, related party		(861.16667256	)		(163	)
Net change in unrealized appreciation on investment in SOL		-			5,536
Net realized loss on investment in SOL sold for rebalancing		-			(1	)
Net realized gain on investment in SOL sold to pay expenses		-			55
Net realized gain on investment in SOL sold for redemption of Shares		-			2,383
SOL balance at September 30, 2025		129,020.18150104		$	26,955

(Amounts in thousands, except ADA amounts)	Quantity			Fair Value
ADA balance at June 30, 2024		-		$	-
ADA contributed		-			-
Net ADA contributed from portfolio rebalancing		10,568,299.628398			11,727
ADA distributed for Manager's Fee, related party		(127,897.376884	)		(96	)
Net change in unrealized depreciation on investment in ADA		-			(5,523	)
Net realized gain on investment in ADA		-			50
ADA balance at June 30, 2025		10,440,402.251514		$	6,158
ADA contributed		78,550.240584			62
ADA redeemed		(1,793,660.932427	)		(1,455	)
Net ADA contributed from portfolio rebalancing		4,425.609104			3
ADA distributed for Manager’s Fee, related party		(58,865.863878	)		(46	)
Net change in unrealized depreciation on investment in ADA		-			2,796
Net realized gain on investment in ADA sold for rebalancing		-			-
Net realized loss on investment in ADA sold to pay expenses		-			(19	)
Net realized loss on investment in ADA sold for redemption of Shares		-			(551	)
ADA balance at September 30, 2025		8,670,851.304897		$	6,948

(Amounts in thousands, except AVAX amounts)	Quantity			Fair Value
AVAX balance at June 30, 2024		114,955.66479380		$	3,273
AVAX contributed		-			-
Net AVAX distributed from portfolio rebalancing		(113,418.90243682	)		(4,832	)
AVAX distributed for Manager's Fee, related party		(1,536.76235698	)		(47	)
Net change in unrealized depreciation on investment in AVAX		-			1,014
Net realized gain on investment in AVAX		-			592
AVAX balance at June 30, 2025		-		$	-