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    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_NetCashProvidedByUsedInFinancingActivities</link:label>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) financing activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ManagementAndServiceFeesBaseRate" xlink:label="us-gaap_ManagementAndServiceFeesBaseRate" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ManagementAndServiceFeesBaseRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ManagementAndServiceFeesBaseRate</link:label>
    <link:label xlink:label="us-gaap_ManagementAndServiceFeesBaseRate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management and Service Fees, Base Rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ManagementAndServiceFeesBaseRate" xlink:to="us-gaap_ManagementAndServiceFeesBaseRate-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="us-gaap_LiabilitiesFairValueDisclosure" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LiabilitiesFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_LiabilitiesFairValueDisclosure</link:label>
    <link:label xlink:label="us-gaap_LiabilitiesFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesFairValueDisclosure" xlink:to="us-gaap_LiabilitiesFairValueDisclosure-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="us-gaap_AssetsFairValueDisclosure" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AssetsFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AssetsFairValueDisclosure</link:label>
    <link:label xlink:label="us-gaap_AssetsFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_AssetsFairValueDisclosure-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" xlink:label="us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in Shares issued and outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease" xlink:to="us-gaap_StockIssuedDuringPeriodSharesPeriodIncreaseDecrease-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccountingPoliciesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" xlink:label="us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ether sold to pay expenses</link:label>
    <link:label xlink:label="us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ether sold to pay expenses, realized gain (loss)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses" xlink:to="us-gaap_GainLossOnSaleOfTrustAssetsToPayExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TemporaryEquityStockIssuedDuringPeriodValueNewIssues" xlink:label="us-gaap_TemporaryEquityStockIssuedDuringPeriodValueNewIssues" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TemporaryEquityStockIssuedDuringPeriodValueNewIssues-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contributions for Shares issued</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TemporaryEquityStockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_TemporaryEquityStockIssuedDuringPeriodValueNewIssues-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeStatementAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsAbstract" xlink:label="us-gaap_CashAndCashEquivalentsAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAbstract" xlink:to="us-gaap_CashAndCashEquivalentsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TemporaryEquityIssuePeriodIncreaseOrDecrease" xlink:label="us-gaap_TemporaryEquityIssuePeriodIncreaseOrDecrease" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TemporaryEquityIssuePeriodIncreaseOrDecrease-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in net assets from capital share transactions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TemporaryEquityIssuePeriodIncreaseOrDecrease" xlink:to="us-gaap_TemporaryEquityIssuePeriodIncreaseOrDecrease-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CryptoAssetNumberOfUnits" xlink:label="us-gaap_CryptoAssetNumberOfUnits" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CryptoAssetNumberOfUnits-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ether</link:label>
    <link:label xlink:label="us-gaap_CryptoAssetNumberOfUnits-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label xlink:label="us-gaap_CryptoAssetNumberOfUnits-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetNumberOfUnits" xlink:to="us-gaap_CryptoAssetNumberOfUnits-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net decrease in net assets resulting from operations</link:label>
    <link:label xlink:label="us-gaap_NetIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net decrease in net assets resulting from operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile the net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAbstract" xlink:label="us-gaap_LiabilitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LiabilitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_OfferingOfTheSharesPolicyTextBlock" xlink:label="etha_OfferingOfTheSharesPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="etha_OfferingOfTheSharesPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Offering of the Shares [Policy Text Block]</link:label>
    <link:label xlink:label="etha_OfferingOfTheSharesPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accounting policy for creation and redemption of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_OfferingOfTheSharesPolicyTextBlock" xlink:to="etha_OfferingOfTheSharesPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="us-gaap_CostsAndExpensesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CostsAndExpensesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_CostsAndExpensesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_MaximumAmountOfTrustAssetsForSponsorsFeeAfterFeeWaiver" xlink:label="etha_MaximumAmountOfTrustAssetsForSponsorsFeeAfterFeeWaiver" xlink:type="locator"/>
    <link:label xlink:label="etha_MaximumAmountOfTrustAssetsForSponsorsFeeAfterFeeWaiver-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_MaximumAmountOfTrustAssetsForSponsorsFeeAfterFeeWaiver</link:label>
    <link:label xlink:label="etha_MaximumAmountOfTrustAssetsForSponsorsFeeAfterFeeWaiver-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Amount of Trust Assets for Sponsor's Fee After Fee Waiver</link:label>
    <link:label xlink:label="etha_MaximumAmountOfTrustAssetsForSponsorsFeeAfterFeeWaiver-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The maximum amount of trust assets for sponsor's fee after fee waiver.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_MaximumAmountOfTrustAssetsForSponsorsFeeAfterFeeWaiver" xlink:to="etha_MaximumAmountOfTrustAssetsForSponsorsFeeAfterFeeWaiver-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_SponsorsFeeAfterFeeWaiverPercentage" xlink:label="etha_SponsorsFeeAfterFeeWaiverPercentage" xlink:type="locator"/>
    <link:label xlink:label="etha_SponsorsFeeAfterFeeWaiverPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_SponsorsFeeAfterFeeWaiverPercentage</link:label>
    <link:label xlink:label="etha_SponsorsFeeAfterFeeWaiverPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sponsors Fee After Fee Waiver, Percentage</link:label>
    <link:label xlink:label="etha_SponsorsFeeAfterFeeWaiverPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of sponsor's fee after fee waiver.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_SponsorsFeeAfterFeeWaiverPercentage" xlink:to="etha_SponsorsFeeAfterFeeWaiverPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sponsor&#8217;s fee payable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in operating assets and liabilities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:label="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Standards Update and Change in Accounting Principle [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable" xlink:to="us-gaap_NewAccountingPronouncementsOrChangeInAccountingPrincipleTable-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="us-gaap_IncomeTaxPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByBalanceSheetGroupingTable" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FairValueByBalanceSheetGroupingTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, by Balance Sheet Grouping [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByBalanceSheetGroupingTable" xlink:to="us-gaap_FairValueByBalanceSheetGroupingTable-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect</link:label>
    <link:label xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net decrease in cash</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain" xlink:label="us-gaap_RelatedPartyDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RelatedPartyDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyDomain" xlink:to="us-gaap_RelatedPartyDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_CashAndCashEquivalentsFairValueDisclosure</link:label>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:to="us-gaap_CashAndCashEquivalentsFairValueDisclosure-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations</link:label>
    <link:label xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash, beginning of period</link:label>
    <link:label xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash, end of period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementOfFinancialPositionAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancialSupportForNonconsolidatedLegalEntityTable" xlink:label="us-gaap_FinancialSupportForNonconsolidatedLegalEntityTable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FinancialSupportForNonconsolidatedLegalEntityTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Support for Nonconsolidated Legal Entity [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialSupportForNonconsolidatedLegalEntityTable" xlink:to="us-gaap_FinancialSupportForNonconsolidatedLegalEntityTable-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_FinancialHighlightsTableTextBlock" xlink:label="etha_FinancialHighlightsTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="etha_FinancialHighlightsTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Highlights [Table Text Block]</link:label>
    <link:label xlink:label="etha_FinancialHighlightsTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of financial highlights.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_FinancialHighlightsTableTextBlock" xlink:to="etha_FinancialHighlightsTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountsPayableFairValueDisclosure" xlink:label="us-gaap_AccountsPayableFairValueDisclosure" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccountsPayableFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sponsor&#8217;s fee payable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableFairValueDisclosure" xlink:to="us-gaap_AccountsPayableFairValueDisclosure-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses" xlink:label="us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from ether sold</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses" xlink:to="us-gaap_ProceedsFromSaleOfTrustAssetsToPayExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_SponsorFeesWaived" xlink:label="etha_SponsorFeesWaived" xlink:type="locator"/>
    <link:label xlink:label="etha_SponsorFeesWaived-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_SponsorFeesWaived</link:label>
    <link:label xlink:label="etha_SponsorFeesWaived-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sponsor Fees Waived</link:label>
    <link:label xlink:label="etha_SponsorFeesWaived-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Sponsor&#8217;s fee waived</link:label>
    <link:label xlink:label="etha_SponsorFeesWaived-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of sponsor fees waived during period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_SponsorFeesWaived" xlink:to="etha_SponsorFeesWaived-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_FinancialHighlightsTextBlock" xlink:label="etha_FinancialHighlightsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="etha_FinancialHighlightsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Highlights [Text Block]</link:label>
    <link:label xlink:label="etha_FinancialHighlightsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Presentation of financial highlights related to investment performance and operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_FinancialHighlightsTextBlock" xlink:to="etha_FinancialHighlightsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CryptoAssetFairValue" xlink:label="us-gaap_CryptoAssetFairValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CryptoAssetFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment in ether, at fair value</link:label>
    <link:label xlink:label="us-gaap_CryptoAssetFairValue-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance, fair value</link:label>
    <link:label xlink:label="us-gaap_CryptoAssetFairValue-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance, fair value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetFairValue" xlink:to="us-gaap_CryptoAssetFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CryptoAssetPurchase" xlink:label="us-gaap_CryptoAssetPurchase" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CryptoAssetPurchase-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ether purchased, fair value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetPurchase" xlink:to="us-gaap_CryptoAssetPurchase-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetAssetValuePerShare" xlink:label="us-gaap_NetAssetValuePerShare" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetAssetValuePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_NetAssetValuePerShare</link:label>
    <link:label xlink:label="us-gaap_NetAssetValuePerShare-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Net asset value per Share, beginning of period (in dollars per share)</link:label>
    <link:label xlink:label="us-gaap_NetAssetValuePerShare-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Net asset value per Share, end of period (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetAssetValuePerShare" xlink:to="us-gaap_NetAssetValuePerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentType-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationLineItems-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentQuarterlyReport" xlink:label="dei_DocumentQuarterlyReport" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentQuarterlyReport-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Quarterly Report</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationTable" xlink:to="dei_DocumentInformationTable-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityInteractiveDataCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AssetsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentTransitionReport-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueNetAssetLiability" xlink:label="us-gaap_FairValueNetAssetLiability" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FairValueNetAssetLiability-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Assets</link:label>
    <link:label xlink:label="us-gaap_FairValueNetAssetLiability-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Assets</link:label>
    <link:label xlink:label="us-gaap_FairValueNetAssetLiability-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Net Assets, Beginning of Period</link:label>
    <link:label xlink:label="us-gaap_FairValueNetAssetLiability-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Net Assets, End of Period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueNetAssetLiability" xlink:to="us-gaap_FairValueNetAssetLiability-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingExpenses</link:label>
    <link:label xlink:label="us-gaap_OperatingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnrealizedGainLossOnInvestments" xlink:label="us-gaap_UnrealizedGainLossOnInvestments" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_UnrealizedGainLossOnInvestments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net change in unrealized appreciation/depreciation</link:label>
    <link:label xlink:label="us-gaap_UnrealizedGainLossOnInvestments-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net change in unrealized appreciation/depreciation, fair value</link:label>
    <link:label xlink:label="us-gaap_UnrealizedGainLossOnInvestments-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net change in unrealized appreciation/depreciation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnInvestments" xlink:to="us-gaap_UnrealizedGainLossOnInvestments-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareBasic" xlink:label="us-gaap_EarningsPerShareBasic" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EarningsPerShareBasic-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net decrease in net assets per Share (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssued1" xlink:label="us-gaap_StockIssued1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockIssued1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ethereum purchased for Shares issued</link:label>
    <link:label xlink:label="us-gaap_StockIssued1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Issued</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssued1" xlink:to="us-gaap_StockIssued1-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromOtherEquity" xlink:label="us-gaap_ProceedsFromOtherEquity" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromOtherEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from issuance of Shares</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromOtherEquity" xlink:to="us-gaap_ProceedsFromOtherEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PolicyTextBlockAbstract" xlink:label="us-gaap_PolicyTextBlockAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PolicyTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_PolicyTextBlockAbstract</link:label>
    <link:label xlink:label="us-gaap_PolicyTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PolicyTextBlockAbstract" xlink:to="us-gaap_PolicyTextBlockAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DisclosureTextBlockAbstract" xlink:label="us-gaap_DisclosureTextBlockAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DisclosureTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DisclosureTextBlockAbstract</link:label>
    <link:label xlink:label="us-gaap_DisclosureTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes to Financial Statements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureTextBlockAbstract" xlink:to="us-gaap_DisclosureTextBlockAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TableTextBlock" xlink:label="us-gaap_TableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_TableTextBlock</link:label>
    <link:label xlink:label="us-gaap_TableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Tables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TableTextBlock" xlink:to="us-gaap_TableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalPeriodFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalYearFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
    <link:label xlink:label="dei_AmendmentFlag-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskTable" xlink:label="us-gaap_ConcentrationRiskTable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ConcentrationRiskTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskTable" xlink:to="us-gaap_ConcentrationRiskTable-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_CapitalShareTransactionsAbstract" xlink:label="etha_CapitalShareTransactionsAbstract" xlink:type="locator"/>
    <link:label xlink:label="etha_CapitalShareTransactionsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Share Transactions:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_CapitalShareTransactionsAbstract" xlink:to="etha_CapitalShareTransactionsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_OperationsAbstract" xlink:label="etha_OperationsAbstract" xlink:type="locator"/>
    <link:label xlink:label="etha_OperationsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operations:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_OperationsAbstract" xlink:to="etha_OperationsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentPeriodEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentTableTextBlock" xlink:label="us-gaap_InvestmentTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTableTextBlock" xlink:to="us-gaap_InvestmentTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:to="us-gaap_ConcentrationRiskDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_PaymentsToAcquireInvestmentInCryptoAssets" xlink:label="etha_PaymentsToAcquireInvestmentInCryptoAssets" xlink:type="locator"/>
    <link:label xlink:label="etha_PaymentsToAcquireInvestmentInCryptoAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_PaymentsToAcquireInvestmentInCryptoAssets</link:label>
    <link:label xlink:label="etha_PaymentsToAcquireInvestmentInCryptoAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Purchases of ether</link:label>
    <link:label xlink:label="etha_PaymentsToAcquireInvestmentInCryptoAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of cash outflow for investments in crypto assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_PaymentsToAcquireInvestmentInCryptoAssets" xlink:to="etha_PaymentsToAcquireInvestmentInCryptoAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_NetAssetsPercentageOfNetAssets" xlink:label="etha_NetAssetsPercentageOfNetAssets" xlink:type="locator"/>
    <link:label xlink:label="etha_NetAssetsPercentageOfNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net assets, percentage of net asset value</link:label>
    <link:label xlink:label="etha_NetAssetsPercentageOfNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of net assets of net assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_NetAssetsPercentageOfNetAssets" xlink:to="etha_NetAssetsPercentageOfNetAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:label xlink:label="dei_LegalEntityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:label="etha_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:type="locator"/>
    <link:label xlink:label="etha_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod</link:label>
    <link:label xlink:label="etha_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions for Shares redeemed</link:label>
    <link:label xlink:label="etha_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the value of stock classified as temporary equity surrendered during the reporting period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:to="etha_ValueOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_SharesIssuedAndRedeemedAbstract" xlink:label="etha_SharesIssuedAndRedeemedAbstract" xlink:type="locator"/>
    <link:label xlink:label="etha_SharesIssuedAndRedeemedAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares issued and redeemed</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_SharesIssuedAndRedeemedAbstract" xlink:to="etha_SharesIssuedAndRedeemedAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_SharesOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:label="etha_SharesOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:type="locator"/>
    <link:label xlink:label="etha_SharesOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_SharesOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod</link:label>
    <link:label xlink:label="etha_SharesOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Shares redeemed (in shares)</link:label>
    <link:label xlink:label="etha_SharesOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of shares of stock classified as temporary equity surrendered during the reporting period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_SharesOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod" xlink:to="etha_SharesOfStockClassifiedAsTemporaryEquitySurrenderedDuringReportingPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_IncreaseDecreaseInNetAssets" xlink:label="etha_IncreaseDecreaseInNetAssets" xlink:type="locator"/>
    <link:label xlink:label="etha_IncreaseDecreaseInNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_IncreaseDecreaseInNetAssets</link:label>
    <link:label xlink:label="etha_IncreaseDecreaseInNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Decrease in net assets</link:label>
    <link:label xlink:label="etha_IncreaseDecreaseInNetAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (decrease) in net assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_IncreaseDecreaseInNetAssets" xlink:to="etha_IncreaseDecreaseInNetAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityFileNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_EtherPurchased" xlink:label="etha_EtherPurchased" xlink:type="locator"/>
    <link:label xlink:label="etha_EtherPurchased-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ether purchased</link:label>
    <link:label xlink:label="etha_EtherPurchased-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ether Purchased</link:label>
    <link:label xlink:label="etha_EtherPurchased-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Quantity of ether purchased for the creation of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_EtherPurchased" xlink:to="etha_EtherPurchased-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityTaxIdentificationNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_EtherPurchasedAverageCost" xlink:label="etha_EtherPurchasedAverageCost" xlink:type="locator"/>
    <link:label xlink:label="etha_EtherPurchasedAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ether purchased, average cost</link:label>
    <link:label xlink:label="etha_EtherPurchasedAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Average cost of ether purchased for the creation of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_EtherPurchasedAverageCost" xlink:to="etha_EtherPurchasedAverageCost-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_EtherSoldToPayTrustExpenses" xlink:label="etha_EtherSoldToPayTrustExpenses" xlink:type="locator"/>
    <link:label xlink:label="etha_EtherSoldToPayTrustExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_EtherSoldToPayTrustExpenses</link:label>
    <link:label xlink:label="etha_EtherSoldToPayTrustExpenses-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Ether sold to pay expenses</link:label>
    <link:label xlink:label="etha_EtherSoldToPayTrustExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Quantity of ether sold to pay the trust's expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_EtherSoldToPayTrustExpenses" xlink:to="etha_EtherSoldToPayTrustExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_BlackrockFinancialManagementIncMember" xlink:label="etha_BlackrockFinancialManagementIncMember" xlink:type="locator"/>
    <link:label xlink:label="etha_BlackrockFinancialManagementIncMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BlackRock Financial Management, Inc. [Member]</link:label>
    <link:label xlink:label="etha_BlackrockFinancialManagementIncMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents BlackRock Financial Management, Inc.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_BlackrockFinancialManagementIncMember" xlink:to="etha_BlackrockFinancialManagementIncMember-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCentralIndexKey-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_ActivityInEtherTableTextBlock" xlink:label="etha_ActivityInEtherTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="etha_ActivityInEtherTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Activity in Ether [Table Text Block]</link:label>
    <link:label xlink:label="etha_ActivityInEtherTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of the quantity, average cost, fair value and realized gain (loss) related to activity in ether.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_ActivityInEtherTableTextBlock" xlink:to="etha_ActivityInEtherTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityRegistrantName-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_CalculationOfNetAssetValuePolicyTextBlock" xlink:label="etha_CalculationOfNetAssetValuePolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="etha_CalculationOfNetAssetValuePolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Calculation of Net Asset Value [Policy Text Block]</link:label>
    <link:label xlink:label="etha_CalculationOfNetAssetValuePolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accounting policy for creation and redemption of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_CalculationOfNetAssetValuePolicyTextBlock" xlink:to="etha_CalculationOfNetAssetValuePolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_NetRealizedGainLossFromEtherSoldForTheRedemptionOfShares" xlink:label="etha_NetRealizedGainLossFromEtherSoldForTheRedemptionOfShares" xlink:type="locator"/>
    <link:label xlink:label="etha_NetRealizedGainLossFromEtherSoldForTheRedemptionOfShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ether sold for the redemption of Shares</link:label>
    <link:label xlink:label="etha_NetRealizedGainLossFromEtherSoldForTheRedemptionOfShares-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net realized gain (loss) from ether sold for the redemption of shares during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_NetRealizedGainLossFromEtherSoldForTheRedemptionOfShares" xlink:to="etha_NetRealizedGainLossFromEtherSoldForTheRedemptionOfShares-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCurrentReportingStatus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_TrustExpensesTextBlock" xlink:label="etha_TrustExpensesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="etha_TrustExpensesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trust Expenses [Text Block]</link:label>
    <link:label xlink:label="etha_TrustExpensesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entire disclosure for expenses incurred by the Trust.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_TrustExpensesTextBlock" xlink:to="etha_TrustExpensesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityIncorporationStateCountryCode-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_EtherSoldToPayTrustExpensesAverageCost" xlink:label="etha_EtherSoldToPayTrustExpensesAverageCost" xlink:type="locator"/>
    <link:label xlink:label="etha_EtherSoldToPayTrustExpensesAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_EtherSoldToPayTrustExpensesAverageCost</link:label>
    <link:label xlink:label="etha_EtherSoldToPayTrustExpensesAverageCost-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Ether sold to pay expenses, average cost</link:label>
    <link:label xlink:label="etha_EtherSoldToPayTrustExpensesAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Average cost of ether gold bullion sold to pay the trust's expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_EtherSoldToPayTrustExpensesAverageCost" xlink:to="etha_EtherSoldToPayTrustExpensesAverageCost-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_CurrentFiscalYearEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_EtherSoldToPayTrustExpensesFairValue" xlink:label="etha_EtherSoldToPayTrustExpensesFairValue" xlink:type="locator"/>
    <link:label xlink:label="etha_EtherSoldToPayTrustExpensesFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_EtherSoldToPayTrustExpensesFairValue</link:label>
    <link:label xlink:label="etha_EtherSoldToPayTrustExpensesFairValue-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Ether sold to pay expenses, fair value</link:label>
    <link:label xlink:label="etha_EtherSoldToPayTrustExpensesFairValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value of ether sold to pay the trust's expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_EtherSoldToPayTrustExpensesFairValue" xlink:to="etha_EtherSoldToPayTrustExpensesFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityExTransitionPeriod" xlink:label="dei_EntityExTransitionPeriod" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityExTransitionPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Ex Transition Period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_IndemnificationTextBlock" xlink:label="etha_IndemnificationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="etha_IndemnificationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indemnification [Text Block]</link:label>
    <link:label xlink:label="etha_IndemnificationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Includes disclosure of indemnification.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_IndemnificationTextBlock" xlink:to="etha_IndemnificationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityFilerCategory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityShellCompany-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_LegalFeesPerYear" xlink:label="etha_LegalFeesPerYear" xlink:type="locator"/>
    <link:label xlink:label="etha_LegalFeesPerYear-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_LegalFeesPerYear</link:label>
    <link:label xlink:label="etha_LegalFeesPerYear-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Fees Per Year</link:label>
    <link:label xlink:label="etha_LegalFeesPerYear-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum per annum in legal fees and expenses the sponsor has agreed to assume.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_LegalFeesPerYear" xlink:to="etha_LegalFeesPerYear-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityEmergingGrowthCompany-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" xlink:type="locator"/>
    <link:label xlink:label="dei_EntitySmallBusiness-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_SharesPrescribedAggregation" xlink:label="etha_SharesPrescribedAggregation" xlink:type="locator"/>
    <link:label xlink:label="etha_SharesPrescribedAggregation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_SharesPrescribedAggregation</link:label>
    <link:label xlink:label="etha_SharesPrescribedAggregation-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares Prescribed Aggregation (in shares)</link:label>
    <link:label xlink:label="etha_SharesPrescribedAggregation-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Prescribed aggregation at which shares are issued and redeemed.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_SharesPrescribedAggregation" xlink:to="etha_SharesPrescribedAggregation-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net investment loss</link:label>
    <link:label xlink:label="us-gaap_OperatingIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net investment loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_InvestmentPaidForRedemptionOfSharesCost" xlink:label="etha_InvestmentPaidForRedemptionOfSharesCost" xlink:type="locator"/>
    <link:label xlink:label="etha_InvestmentPaidForRedemptionOfSharesCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_InvestmentPaidForRedemptionOfSharesCost</link:label>
    <link:label xlink:label="etha_InvestmentPaidForRedemptionOfSharesCost-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment Paid for Redemption of Shares, Cost</link:label>
    <link:label xlink:label="etha_InvestmentPaidForRedemptionOfSharesCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of cost of investment paid for redemption of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_InvestmentPaidForRedemptionOfSharesCost" xlink:to="etha_InvestmentPaidForRedemptionOfSharesCost-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SponsorFees" xlink:label="us-gaap_SponsorFees" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SponsorFees-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sponsor&#8217;s fee</link:label>
    <link:label xlink:label="us-gaap_SponsorFees-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sponsor Fees</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SponsorFees" xlink:to="us-gaap_SponsorFees-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LossContingenciesTable" xlink:label="us-gaap_LossContingenciesTable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LossContingenciesTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss Contingencies [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingenciesTable" xlink:to="us-gaap_LossContingenciesTable-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityAddressStateOrProvince-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementOfStockholdersEquityAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityAddressCityOrTown-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_InvestmentPaidForSharesRedeemed" xlink:label="etha_InvestmentPaidForSharesRedeemed" xlink:type="locator"/>
    <link:label xlink:label="etha_InvestmentPaidForSharesRedeemed-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ethereum paid for Shares redeemed</link:label>
    <link:label xlink:label="etha_InvestmentPaidForSharesRedeemed-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment Paid for Shares Redeemed</link:label>
    <link:label xlink:label="etha_InvestmentPaidForSharesRedeemed-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of investment paid for shares redeemed in noncash transaction.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_InvestmentPaidForSharesRedeemed" xlink:to="etha_InvestmentPaidForSharesRedeemed-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityAddressAddressLine1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementOfCashFlowsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" xlink:type="locator"/>
    <link:label xlink:label="dei_CityAreaCode-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" xlink:type="locator"/>
    <link:label xlink:label="dei_LocalPhoneNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityAddressPostalZipCode-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" xlink:type="locator"/>
    <link:label xlink:label="dei_Security12bTitle-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementEquityComponentsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" xlink:type="locator"/>
    <link:label xlink:label="dei_SecurityExchangeName-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
    <link:label xlink:label="dei_TradingSymbol-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementClassOfStockAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_RealizedInvestmentGains" xlink:label="etha_RealizedInvestmentGains" xlink:type="locator"/>
    <link:label xlink:label="etha_RealizedInvestmentGains-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Realized gain</link:label>
    <link:label xlink:label="etha_RealizedInvestmentGains-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of realized gain on investment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_RealizedInvestmentGains" xlink:to="etha_RealizedInvestmentGains-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EquityComponentDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_Redemptions" xlink:label="etha_Redemptions" xlink:type="locator"/>
    <link:label xlink:label="etha_Redemptions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_Redemptions</link:label>
    <link:label xlink:label="etha_Redemptions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments for Shares redeemed</link:label>
    <link:label xlink:label="etha_Redemptions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash outflow to surrender redeemable capital shares in connection with a redemption order.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_Redemptions" xlink:to="etha_Redemptions-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_RealizedInvestmentLosses" xlink:label="etha_RealizedInvestmentLosses" xlink:type="locator"/>
    <link:label xlink:label="etha_RealizedInvestmentLosses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_RealizedInvestmentLosses</link:label>
    <link:label xlink:label="etha_RealizedInvestmentLosses-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Realized loss</link:label>
    <link:label xlink:label="etha_RealizedInvestmentLosses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of realized loss on investment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_RealizedInvestmentLosses" xlink:to="etha_RealizedInvestmentLosses-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCommonStockSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_EtherDistributedFairValue" xlink:label="etha_EtherDistributedFairValue" xlink:type="locator"/>
    <link:label xlink:label="etha_EtherDistributedFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_EtherDistributedFairValue</link:label>
    <link:label xlink:label="etha_EtherDistributedFairValue-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Ether sold for the redemption of shares, fair value</link:label>
    <link:label xlink:label="etha_EtherDistributedFairValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value of ether distributed for the redemption of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_EtherDistributedFairValue" xlink:to="etha_EtherDistributedFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_EtherDistributedAverageCost" xlink:label="etha_EtherDistributedAverageCost" xlink:type="locator"/>
    <link:label xlink:label="etha_EtherDistributedAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_EtherDistributedAverageCost</link:label>
    <link:label xlink:label="etha_EtherDistributedAverageCost-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Ether sold for the redemption of shares, average cost</link:label>
    <link:label xlink:label="etha_EtherDistributedAverageCost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Average cost of ether distributed for the redemption of shares.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_EtherDistributedAverageCost" xlink:to="etha_EtherDistributedAverageCost-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_NetRealizedGainLossFromEtherDistributedForTheRedemptionOfShares" xlink:label="etha_NetRealizedGainLossFromEtherDistributedForTheRedemptionOfShares" xlink:type="locator"/>
    <link:label xlink:label="etha_NetRealizedGainLossFromEtherDistributedForTheRedemptionOfShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_NetRealizedGainLossFromEtherDistributedForTheRedemptionOfShares</link:label>
    <link:label xlink:label="etha_NetRealizedGainLossFromEtherDistributedForTheRedemptionOfShares-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Ether sold for the redemption of shares, realized gain (loss)</link:label>
    <link:label xlink:label="etha_NetRealizedGainLossFromEtherDistributedForTheRedemptionOfShares-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net realized gain (loss) from ether distributed for the redemption of shares during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_NetRealizedGainLossFromEtherDistributedForTheRedemptionOfShares" xlink:to="etha_NetRealizedGainLossFromEtherDistributedForTheRedemptionOfShares-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_EtherDistributed" xlink:label="etha_EtherDistributed" xlink:type="locator"/>
    <link:label xlink:label="etha_EtherDistributed-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_EtherDistributed</link:label>
    <link:label xlink:label="etha_EtherDistributed-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Ether sold for the redemption of shares</link:label>
    <link:label xlink:label="etha_EtherDistributed-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The quantity of ether distributed.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_EtherDistributed" xlink:to="etha_EtherDistributed-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="etha-20260331.xsd#etha_PolicyTable" xlink:label="etha_PolicyTable" xlink:type="locator"/>
    <link:label xlink:label="etha_PolicyTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">etha_PolicyTable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="etha_PolicyTable" xlink:to="etha_PolicyTable-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="us-gaap_FairValueDisclosuresTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FairValueDisclosuresTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SupplementalCashFlowInformationAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental disclosure of non-cash information:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentOwnedAtFairValue" xlink:label="us-gaap_InvestmentOwnedAtFairValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentOwnedAtFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ether fair value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedAtFairValue" xlink:to="us-gaap_InvestmentOwnedAtFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainLossOnInvestmentsAbstract" xlink:label="us-gaap_GainLossOnInvestmentsAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_GainLossOnInvestmentsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Realized and Unrealized Loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnInvestmentsAbstract" xlink:to="us-gaap_GainLossOnInvestmentsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainLossOnInvestments" xlink:label="us-gaap_GainLossOnInvestments" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_GainLossOnInvestments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_GainLossOnInvestments</link:label>
    <link:label xlink:label="us-gaap_GainLossOnInvestments-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net realized and unrealized loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnInvestments" xlink:to="us-gaap_GainLossOnInvestments-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealizedInvestmentGainsLosses" xlink:label="us-gaap_RealizedInvestmentGainsLosses" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RealizedInvestmentGainsLosses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net realized loss</link:label>
    <link:label xlink:label="us-gaap_RealizedInvestmentGainsLosses-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net realized gain (loss), fair value</link:label>
    <link:label xlink:label="us-gaap_RealizedInvestmentGainsLosses-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net realized loss</link:label>
    <link:label xlink:label="us-gaap_RealizedInvestmentGainsLosses-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net realized (gain) loss</link:label>
    <link:label xlink:label="us-gaap_RealizedInvestmentGainsLosses-label" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Ending balance, realized gain (loss)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealizedInvestmentGainsLosses" xlink:to="us-gaap_RealizedInvestmentGainsLosses-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TemporaryEquitySharesIssued" xlink:label="us-gaap_TemporaryEquitySharesIssued" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TemporaryEquitySharesIssued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares, issued (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TemporaryEquitySharesIssued" xlink:to="us-gaap_TemporaryEquitySharesIssued-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TemporaryEquitySharesOutstanding" xlink:label="us-gaap_TemporaryEquitySharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TemporaryEquitySharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares issued and outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TemporaryEquitySharesOutstanding" xlink:to="us-gaap_TemporaryEquitySharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" xlink:label="us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Investments [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock" xlink:to="us-gaap_InvestmentHoldingsScheduleOfInvestmentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SummaryOfInvestmentHoldingsTable" xlink:label="us-gaap_SummaryOfInvestmentHoldingsTable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SummaryOfInvestmentHoldingsTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Holdings [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SummaryOfInvestmentHoldingsTable" xlink:to="us-gaap_SummaryOfInvestmentHoldingsTable-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare" xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare</link:label>
    <link:label xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net decrease in net assets from operations (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare" xlink:to="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyInvestmentIncomeLossPerShare" xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossPerShare" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net investment loss (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyInvestmentIncomeLossPerShare" xlink:to="us-gaap_InvestmentCompanyInvestmentIncomeLossPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyGainLossOnInvestmentPerShare" xlink:label="us-gaap_InvestmentCompanyGainLossOnInvestmentPerShare" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentCompanyGainLossOnInvestmentPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net realized and unrealized loss (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyGainLossOnInvestmentPerShare" xlink:to="us-gaap_InvestmentCompanyGainLossOnInvestmentPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyFinancialHighlightsTable" xlink:label="us-gaap_InvestmentCompanyFinancialHighlightsTable" xlink:type="locator"/>
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    <link:label xlink:label="us-gaap_InvestmentCompanyExpenseRatioBeforeIncentiveAllocation-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total expenses</link:label>
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    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_StockIssuedDuringPeriodValueNewIssues</link:label>
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