Note 2 - Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2025

Notes Tables

Activity in Ether [Table Text Block]

Three Months Ended June 30, 2025	Quantity			Cost			Fair Value			Realized Gain (Loss)
Beginning balance		1,191,766		$	3,887,465,641		$	2,186,653,058		$	—
Ether purchased		651,971			1,593,981,362			1,593,981,362			—
Ether sold for the redemption of shares		(74,771	)		(237,314,542	)		(144,133,707	)		(93,180,835	)
Ether sold to pay expenses		(393	)		(1,234,324	)		(811,088	)		(423,236	)
Net realized loss		—			—			(93,604,071	)		—
Net change in unrealized appreciation/depreciation		—			—			854,250,640			—
Ending balance		1,768,573		$	5,242,898,137		$	4,396,336,194		$	(93,604,071	)

For the Period from May 21, 2024 (Date of Seeding) to June 30, 2024	Quantity		Cost		Fair Value		Realized Gain (Loss)
Beginning balance		—	$	—	$	—	$	—
Ether purchased		3,031		10,000,000		10,000,000		—
Ether sold for the redemption of shares		—		—		—		—
Ether sold to pay expenses		—		—		—		—
Net realized gain		—		—		—		—
Net change in unrealized appreciation/depreciation		—		—		590,295		—
Ending balance		3,031	$	10,000,000	$	10,590,295	$	—

Six Months Ended June 30, 2025	Quantity			Cost			Fair Value			Realized Gain (Loss)
Beginning balance		1,071,415		$	3,543,902,275		$	3,571,669,777		$	—
Ether purchased		954,503			2,532,610,572			2,532,610,572			—
Ether sold for the redemption of shares		(256,443	)		(830,710,219	)		(534,187,709	)		(296,522,510	)
Ether sold to pay expenses		(902	)		(2,904,491	)		(2,168,084	)		(736,407	)
Net realized loss		—			—			(297,258,917	)		—
Net change in unrealized appreciation/depreciation		—			—			(874,329,445	)		—
Ending balance		1,768,573		$	5,242,898,137		$	4,396,336,194		$	(297,258,917	)

For the Period from May 21, 2024 (Date of Seeding) to June 30, 2024	Quantity		Cost		Fair Value		Realized Gain (Loss)
Beginning balance		—	$	—	$	—	$	—
Ether purchased		3,031		10,000,000		10,000,000		—
Ether sold for the redemption of shares		—		—		—		—
Ether sold to pay expenses		—		—		—		—
Net realized gain		—		—		—		—
Net change in unrealized appreciation/depreciation		—		—		590,295		—
Ending balance		3,031	$	10,000,000	$	10,590,295	$	—