Concentration of Risk (Tables)

3 Months Ended

Mar. 31, 2026

Risks and Uncertainties [Abstract]

Schedule of Accounts Payable

Payable for ether purchased represents the quantity of ether purchased for the creation of Shares where the ether has not yet settled.

	March 31, 2026		December 31, 2025
(Amounts in thousands)	(unaudited)
Payable for ether purchased	$	1,201	$	—

Schedule of Accounts Receivable

Receivable for ether sold represents the quantity of ether sold for the redemption of Shares where the ether has not yet been settled.

	March 31, 2026		December 31, 2025
(Amounts in thousands)	(unaudited)
Receivable for ether sold	$	—	$	—