Fair Value of Ether (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Changes in Quantity of Ether and Fair Value

The following represents the changes in quantity of ether and the respective fair value for the six-month period ended June 30, 2025:

	Quantity of ether			Fair Value (amounts in thousands)
Beginning balance as of December 31, 2024		121,101.8582		$	404,529
Purchases		28,466.2256			70,334
Sales for the redemption of Shares		(42,608.0846	)		(117,897	)
Ether transferred for Sponsor Fee		(70.9950	)		(155	)
Net realized gain (loss) on investment in ether transferred to pay Sponsor Fee		—			11
Net realized gain (loss) on investment in ether sold for redemptions		—			(30,348	)
Change in unrealized appreciation (depreciation) on investment in ether		—			(57,517	)
Ending balance as of June 30, 2025		106,889.0042		$	268,957

The following represents the changes in quantity of ether and the respective fair value for the period from July 22, 2024 (commencement of operations) to December 31, 2024:

	Quantity of ether			Fair Value (amounts in thousands)
Beginning balance as of July 22, 2024 (commencement of operations)		—		$ —
Purchases		136,813.5326			453,518
Sales for the redemption of Shares		(15,711.6744	)		(49,804	)
Ether transferred for Sponsor Fee		—			—
Net realized gain (loss) on investment in ether transferred to pay Sponsor Fee		—			—
Net realized gain (loss) on investment in ether sold for redemptions		—			(9,412	)
Change in unrealized appreciation (depreciation) on investment in ether		—			10,227
Ending balance as of December 31, 2024		121,101.8582		$	404,529