Note 7 - Subsequent Events

7 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Subsequent Events [Text Block]

7 - Subsequent Events

On January 5, 2024, the Seed Shares were redeemed for cash and the Seed Capital Investor purchased 400,000 Shares at a per-Share price of $25.00 (“Seed Creation Baskets”). Total proceeds to the Trust from the sale of the Seed Creation Baskets were $10,000,000. With the above transaction, the Trust commenced operations and the Sponsor's fee started accruing daily at an annualized rate equal to 0.25% of the net asset value of the Trust.

The Trust's registration statement on Form S-1 relating to its continous public offering of Shares was declared effective by the SEC on January 10, 2024 and the Shares of the Trust were listed on the NASDAQ on January 11, 2024. For a twelve-month period, starting January 11, 2024, the Sponsor will waive a portion of the Sponsor’s fee so that the Sponsor’s fee after the fee waiver will be equal to 0.12% of the net asset value of the Trust for the first $5.0 billion of the Trust’s assets.

Other than the items noted above there were no subsequent events requiring adjustment or additional disclosure in the financial statements.