Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

5. Subsequent Events

The Trust's registration statement on Form S-1 relating to its continuous public offering of Shares was declared effective by the U.S. Securities and Exchange Commission on July 22, 2024 and the Shares of the Trust were listed on the Exchange on July 23, 2024.

On July 22, 2024, BAM redeemed the entirety of its 8 Seed Shares for $200 and Bitwise Investment Manager, LLC (“BIM”), an affiliate of the Sponsor, purchased the initial 100,000 Shares of the Trust (the “Seed Baskets”) for $2,500,000, at a per-Share price of $25.00. BIM acted as a statutory underwriter in connection with the initial purchase of the Seed Baskets. During July 23, 2024, BIM sold all of its 100,000 Shares of the Trust for cash.

Following the commencement of operations on July 22, 2024, the Trust pays the unitary Sponsor Fee of 0.20% per annum of the Trust's ether holdings and agreed to waive the entire Sponsor Fee on the first $500 million of Trust assets through January 22, 2025.

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