Investments in Ether

3 Months Ended

Mar. 31, 2026

Note 7 – Investments in Ether

The Trust expects to purchase or sell ether in connection with cash creation or redemption transactions, and may sell ether to pay certain expenses, including the Sponsor Fee.

The following is a summary of the transactions in, and earnings from, investments in ether for the three months ended March 31, 2026 and 2025.


	Fair Value
Opening Balance as of 12/31/2025	$	25,853,745
Purchases at Cost		9,838,015
Proceeds from Sales to Pay Sponsor Fee		(15,501	)
Proceeds from Ether sold for Redemptions		(9,295,872	)
Change in Unrealized Appreciation (Depreciation)		(3,856,308	)
Net Realized Gain (Loss) on Investments in Ether Sold to pay Sponsor Fee		(3,374	)
Net Realized Gain (Loss) on Investments in Ether Sold for Redemptions		(3,620,411	)
Ending Balance as of 03/31/2026	$	18,900,294


	Fair Value
Opening Balance as of 12/31/2024	$	23,569,250
Purchases at Cost		3,057,028
Proceeds from Sales to Pay Sponsor Fee		(15,068	)
Proceeds from Ether sold for Redemptions		(1,450,911	)
Change in Unrealized Appreciation (Depreciation)		(10,565,458	)
Net Realized Gain (Loss) on Investments in Ether Sold to pay Sponsor Fee		(2,850	)
Net Realized Gain (Loss) on Investments in Ether Sold for Redemptions		(854,055	)
Ending Balance as of 03/31/2025	$	13,737,936