<SEC-DOCUMENT>0000930413-26-001609.txt : 20260514
<SEC-HEADER>0000930413-26-001609.hdr.sgml : 20260514
<ACCEPTANCE-DATETIME>20260514152327
ACCESSION NUMBER:		0000930413-26-001609
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		46
CONFORMED PERIOD OF REPORT:	20260331
FILED AS OF DATE:		20260514
DATE AS OF CHANGE:		20260514

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VanEck Ethereum ETF
		CENTRAL INDEX KEY:			0001860788
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		ORGANIZATION NAME:           	09 Crypto Assets
		EIN:				866752793
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42141
		FILM NUMBER:		26978263

	BUSINESS ADDRESS:	
		STREET 1:		C/O VANECK DIGITAL ASSETS, LLC
		STREET 2:		666 THIRD AVENUE, 9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		212-293-2048

	MAIL ADDRESS:	
		STREET 1:		C/O VANECK DIGITAL ASSETS, LLC
		STREET 2:		666 THIRD AVENUE, 9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VanEck Ethereum Trust
		DATE OF NAME CHANGE:	20240523

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VanEck Ethereum ETF
		DATE OF NAME CHANGE:	20240215

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VanEck Ethereum Trust
		DATE OF NAME CHANGE:	20210505
</SEC-HEADER>
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</div><p style="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNITED STATES<br/>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>or</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0"/><td style="width: 0.3in"><ix:nonNumeric contextRef="c0" format="ixt-sec:boolballotbox" name="dei:DocumentTransitionReport" id="ixv-55"><span>&#9744;</span></ix:nonNumeric></td><td><span style="font-family: Times New Roman, Times, Serif"><b>Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the transition period from_________________to______________________.</b></span></td></tr></table><div>

</div><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Commission file number: <ix:nonNumeric contextRef="c0" name="dei:EntityFileNumber" id="ixv-3010">001-42141</ix:nonNumeric></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><!-- Field: Rule-Page --><div style="text-align: CENTER;"><div style="font-size: 1pt; border-top: Black 1px solid; width: 20%; margin-left: auto; margin-right: auto;">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(Exact name of registrant as specified
in its charter)</b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>c/o VanEck Digital Assets, LLC<br/>
Jonathan R. Simon, Esq.<br/>
Matthew A. Babinsky, Esq.<br/>
<ix:nonNumeric contextRef="c0" name="dei:EntityAddressAddressLine1" id="ixv-3011">666 Third Avenue</ix:nonNumeric>, <ix:nonNumeric contextRef="c0" name="dei:EntityAddressAddressLine2" id="ixv-116">9<sup>th</sup> Floor</ix:nonNumeric><br/>
<ix:nonNumeric contextRef="c0" name="dei:EntityAddressCityOrTown" id="ixv-3012">New York</ix:nonNumeric>, <ix:nonNumeric contextRef="c0" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince" id="ixv-3013">New York</ix:nonNumeric> <ix:nonNumeric contextRef="c0" name="dei:EntityAddressPostalZipCode" id="ixv-3014">10017</ix:nonNumeric><br/>
(Address of principal executive offices) (Zip Code)</b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(<ix:nonNumeric contextRef="c0" name="dei:CityAreaCode" id="ixv-3015">212</ix:nonNumeric>) <ix:nonNumeric contextRef="c0" name="dei:LocalPhoneNumber" id="ixv-3016">293-2000</ix:nonNumeric><br/>
(Registrant&#8217;s telephone number, including area code)</b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Not Applicable<br/>
(Former name, former address and former fiscal year, if changed since last report)<br/>
Securities registered or to be registered pursuant to Section 12(b) of the Act.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant (1)&#160;has filed all reports required to be filed by Section&#160;13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),
and (2)&#160;has been subject to such filing requirements for the past 90 days. &#160;</span><span>&#9746;</span><span style="font-family: Times New Roman, Times, Serif">
<ix:nonNumeric contextRef="c0" name="dei:EntityCurrentReportingStatus" id="ixv-3017">Yes</ix:nonNumeric>&#160;</span><span>&#9744;</span><span style="font-family: Times New Roman, Times, Serif">
No</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant
to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit such files). </span><span>&#9746;</span><span style="font-family: Times New Roman, Times, Serif">&#160;<ix:nonNumeric contextRef="c0" name="dei:EntityInteractiveDataCurrent" id="ixv-3018">Yes</ix:nonNumeric>&#160;</span><span>&#9744;</span><span style="font-family: Times New Roman, Times, Serif">
No </span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer,&#160;a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions
of &#8220;large accelerated filer&#8221;, &#8220;accelerated filer&#8221;, &#8220;smaller reporting company&#8221; and &#8220;emerging
growth company&#8221;&#160;in Rule 12b-2 of the Exchange Act.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
<tr> <td style="width: 30%; white-space: nowrap;"><span style="font: 10pt Times New Roman, Times, Serif">Large Accelerated Filer</span></td> <td style="width: 5%"><span>&#9744;</span><span style="font: 10pt Times New Roman, Times, Serif"> </span></td> <td style="vertical-align: top; width: 30%">&#160;</td> <td style="width: 30%"><span style="font: 10pt Times New Roman, Times, Serif">Accelerated Filer</span></td> <td style="width: 5%; text-align: right"><span>&#9744;</span><span style="font: 10pt Times New Roman, Times, Serif"> </span></td></tr>
<tr> <td style="white-space: nowrap;"><ix:nonNumeric contextRef="c0" format="ixt-sec:entityfilercategoryen" name="dei:EntityFilerCategory" id="ixv-205"><span style="font: 10pt Times New Roman, Times, Serif">Non-Accelerated Filer</span></ix:nonNumeric></td> <td><span>&#9746;</span></td> <td style="vertical-align: top">&#160;</td> <td style="white-space: nowrap;"><span style="font: 10pt Times New Roman, Times, Serif">Smaller&#160;Reporting&#160;Company</span></td> <td style="text-align: right"><ix:nonNumeric contextRef="c0" format="ixt-sec:boolballotbox" name="dei:EntitySmallBusiness" id="ixv-213"><span>&#9746;</span></ix:nonNumeric></td></tr>
<tr> <td style="white-space: nowrap;"><span style="font: 10pt Times New Roman, Times, Serif">Emerging&#160;Growth&#160;Company</span></td> <td><ix:nonNumeric contextRef="c0" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="ixv-219"><span>&#9746;</span></ix:nonNumeric></td> <td style="vertical-align: top">&#160;</td> <td>&#160;</td> <td style="text-align: right">&#160;</td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </span><ix:nonNumeric contextRef="c0" format="ixt-sec:boolballotbox" name="dei:EntityExTransitionPeriod" id="ixv-229"><span>&#9746;</span></ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.). </span><span>&#9744;</span><span style="font-family: Times New Roman, Times, Serif">
Yes&#160;</span><ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="dei:EntityShellCompany" id="ixv-238"><span>&#9746;</span></ix:nonNumeric>&#160;<span style="font-family: Times New Roman, Times, Serif">No</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The registrant had <ix:nonFraction contextRef="c1" decimals="INF" format="ixt:num-dot-decimal" name="dei:EntityCommonStockSharesOutstanding" scale="0" unitRef="shares" id="ixv-3019">3,475,000</ix:nonFraction> outstanding Shares as of April
30, 2026.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 3px double">&#160;</p><div>



</div><!-- Field: Page; Sequence: 1 --><div>
    </div><div style="margin-bottom: 6pt; border-bottom: Silver 4px solid"><table cellpadding="0" style="width: 100%; font: 12pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: center; width: 100%">&#160;</td></tr></table></div><div>
    </div><div style="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: left; width: 100%"/></tr></table></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>VanEck Ethereum ETF</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Table of Contents</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
<tr style="vertical-align: top">
    <td style="width: 97%">&#160;</td>
    <td style="width: 3%; text-align: center"><b><span style="text-decoration:underline">Page</span></b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: justify"><a href="#x1_c116315a001"><b>Part I. FINANCIAL INFORMATION.</b></a></td>
    <td style="text-align: center"><b>1</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a002"><b>Item 1. Unaudited Financial Statements.</b></a></td>
    <td style="text-align: center"><b>1</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a003"><b>Item 2. Management&#8217;s Discussion and Analysis of Financial Condition and Results of
    Operations.</b></a></td>
    <td style="text-align: center"><b>11</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a004"><b>Item&#160;3. Quantitative and Qualitative Disclosures About Market Risk.</b></a></td>
    <td style="text-align: center"><b>12</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a005"><b>Item 4. Controls and Procedures.</b></a></td>
    <td style="text-align: center"><b>12</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a006"><b>Part II. OTHER INFORMATION.</b></a></td>
    <td style="text-align: center"><b>13</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a007"><b>Item 1. Legal Proceedings.</b></a></td>
    <td style="text-align: center"><b>13</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a008"><b>Item 1A. Risk Factors.</b></a></td>
    <td style="text-align: center"><b>13</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a009"><b>Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.</b></a></td>
    <td style="text-align: center"><b>17</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a010"><b>Item 3. Defaults Upon Senior Securities.</b></a></td>
    <td style="text-align: center"><b>17</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a011"><b>Item 4. Mine Safety Disclosures.</b></a></td>
    <td style="text-align: center"><b>17</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a012"><b>Item 5. Other Information.</b></a></td>
    <td style="text-align: center"><b>17</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a013"><b>Item 6. Exhibits.</b></a></td>
    <td style="text-align: center"><b>17</b></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="#x1_c116315a014"><b>SIGNATURES.</b></a></td>
    <td style="text-align: center"><b>19</b></td></tr>
</table><div>

</div><!-- Field: Page; Sequence: 2 --><div>
    </div><div style="margin-bottom: 6pt; border-bottom: Silver 4px solid"><table cellpadding="0" style="width: 100%; font: 12pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: center; width: 100%">&#160;</td></tr></table></div><div>
    </div><div style="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: left; width: 100%"/></tr></table></div><div>
    </div><!-- Field: /Page --><div>

</div><div><a id="x1_c116315a001"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Part I. FINANCIAL INFORMATION.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="x1_c116315a002"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 1. Unaudited Financial Statements.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td style="width: 100%"><b>VANECK ETHEREUM ETF</b></td></tr>
<tr style="vertical-align: bottom">
    <td>Statements of Assets and Liabilities</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1px solid">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td></tr>
</table><div>
</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom; font-size: 8pt">
    <td style="padding-left: 10pt; text-indent: -10pt; font-size: 8pt"><span style="font-size: 10pt">&#160;</span></td><td style="font-weight: bold; font-size: 8pt"><span style="font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; font-size: 8pt; border-bottom: Black 1px solid"><span style="font-size: 10pt">March 31, 2026
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255); font-size: 10pt">
    <td style="font-weight: bold; padding-left: 10pt; text-indent: -10pt; font-size: 10pt">Assets</td><td style="font-size: 10pt">&#160;</td>
    <td style="text-align: left; font-size: 10pt">&#160;</td><td style="text-align: right; font-size: 10pt">&#160;</td><td style="text-align: left; font-size: 10pt">&#160;</td><td style="font-size: 10pt">&#160;</td>
    <td style="text-align: left; font-size: 10pt">&#160;</td><td style="text-align: right; font-size: 10pt">&#160;</td><td style="text-align: left; font-size: 10pt">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-left: 20pt; text-indent: -10pt; padding-bottom: 1px">Receivable for investment in ether sold</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:fixed-zero" name="us-gaap:ReceivableInvestmentSale" scale="0" unitRef="usd" id="ixv-3024">&#8212;</ix:nonFraction></td><td style="text-align: left; padding-bottom: 1px">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255); font-size: 10pt">
    <td style="font-weight: bold; padding-left: 10pt; text-indent: -10pt; font-size: 10pt">Liabilities</td><td style="font-size: 10pt">&#160;</td>
    <td style="text-align: left; font-size: 10pt">&#160;</td><td style="text-align: right; font-size: 10pt">&#160;</td><td style="text-align: left; font-size: 10pt">&#160;</td><td style="font-size: 10pt">&#160;</td>
    <td style="text-align: left; font-size: 10pt">&#160;</td><td style="text-align: right; font-size: 10pt">&#160;</td><td style="text-align: left; font-size: 10pt">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td style="text-align: left; padding-left: 20pt; text-indent: -10pt">Payable for shares redeemed</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:fixed-zero" name="us-gaap:PayableCommonStockRedeemed" scale="0" unitRef="usd" id="ixv-3028">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-left: 20pt; text-indent: -10pt; padding-bottom: 1px">Accrued Sponsor fee</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="ethv:AccruedSponsorFee" scale="0" unitRef="usd" id="ixv-3030">19,105</ix:nonFraction></td><td style="text-align: left; padding-bottom: 1px">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; ">
    <td style="text-align: left; padding-left: 20pt; text-indent: -10pt; padding-bottom: 1px">Total liabilities</td><td style="padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="font-weight: bold; text-align: left; padding-left: 10pt; text-indent: -10pt; padding-bottom: 3px"><span style="font-size: 10pt">Net
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    <td style="text-align: left; border-bottom: Black 3px double">$</td><td style="text-align: right; border-bottom: Black 3px double"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AssetsNet" scale="0" unitRef="usd" id="ixv-3035">157,578,941</ix:nonFraction></td><td style="text-align: left; padding-bottom: 3px">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td style="text-align: left; padding-left: 10pt; text-indent: -10pt"><div style="-sec-ix-hidden: hidden-fact-1"><div style="-sec-ix-hidden: hidden-fact-0">Shares issued and outstanding (<ix:nonFraction contextRef="c2" decimals="INF" format="ixt-sec:numwordsen" name="us-gaap:CommonStockNoParValue" scale="0" unitRef="usdPershares" id="ixv-3036"><ix:nonFraction contextRef="c3" decimals="INF" format="ixt-sec:numwordsen" name="us-gaap:CommonStockNoParValue" scale="0" unitRef="usdPershares" id="ixv-3037">no</ix:nonFraction></ix:nonFraction> par value, unlimited amount authorized)</div></div></td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="INF" format="ixt:num-dot-decimal" name="us-gaap:SharesOutstanding" scale="0" unitRef="shares" id="ixv-3040"><ix:nonFraction contextRef="c3" decimals="INF" format="ixt:num-dot-decimal" name="us-gaap:SharesIssued" scale="0" unitRef="shares" id="ixv-3041">3,625,000</ix:nonFraction></ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="padding-left: 10pt; text-indent: -10pt">Net Asset Value per Share</td><td>&#160;</td>
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</table><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part
of these financial statements.</p><div>

</div><!-- Field: Page; Sequence: 3; Options: NewSection; Value: 1 --><div>
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    </div><!-- Field: /Page --><div>

</div><table cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td style="width: 100%"><b>VANECK ETHEREUM ETF</b></td></tr>
<tr style="vertical-align: bottom">
    <td>Statements of Operations (Unaudited)</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1px solid">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td></tr>
</table><div>
</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1px; padding-left: 10pt; text-indent: -10pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Three<br/> Months<br/> Ended<br/> March 31,<br/> 2026</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Three<br/> Months<br/> Ended<br/> March 31,<br/> 2025</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td></tr>
<tr style="vertical-align: bottom; font-size: 10pt; background-color: rgb(229,255,255)">
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    <td style="text-align: left; font-size: 10pt">&#160;</td><td style="text-align: right; font-size: 10pt">&#160;</td><td style="text-align: left; font-size: 10pt">&#160;</td><td style="font-size: 10pt">&#160;</td>
    <td style="text-align: left; font-size: 10pt">&#160;</td><td style="text-align: right; font-size: 10pt">&#160;</td><td style="text-align: left; font-size: 10pt">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom; font-size: 10pt; background-color: rgb(229,255,255)">
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    <td style="text-align: left; font-size: 10pt">&#160;</td><td style="text-align: right; font-size: 10pt">&#160;</td><td style="text-align: left; font-size: 10pt">&#160;</td><td style="font-size: 10pt">&#160;</td>
    <td style="text-align: left; font-size: 10pt">&#160;</td><td style="text-align: right; font-size: 10pt">&#160;</td><td style="text-align: left; font-size: 10pt">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="ethv:NetRealizedGainLossOnEtherSoldForRedemptionOfShares" scale="0" sign="-" unitRef="usd" id="ixv-3054">14,464,858</ix:nonFraction>)</td><td style="text-align: left"/><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="ethv:NetRealizedGainLossOnEtherSoldForRedemptionOfShares" scale="0" sign="-" unitRef="usd" id="ixv-3055">1,192,767</ix:nonFraction>)</td><td style="text-align: left"/></tr>
<tr style="vertical-align: bottom; ">
    <td style="text-align: left; padding-left: 40pt; text-indent: -10pt; padding-bottom: 1px">Ether distributed for Sponsor fee, related party</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="ethv:NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty" scale="0" sign="-" unitRef="usd" id="ixv-3056">24,939</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid"><ix:nonFraction contextRef="c5" decimals="0" format="ixt:fixed-zero" name="ethv:NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty" scale="0" unitRef="usd" id="ixv-3057">&#8212;</ix:nonFraction></td><td style="text-align: left; padding-bottom: 1px">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-left: 50pt; text-indent: -10pt; padding-bottom: 1px">Net realized loss on investment in ether</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating" scale="0" sign="-" unitRef="usd" id="ixv-3058">14,489,797</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating" scale="0" sign="-" unitRef="usd" id="ixv-3059">1,192,767</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td style="text-align: left; padding-left: 30pt; text-indent: -10pt; padding-bottom: 1px">Net change in unrealized appreciation (depreciation) from investment in ether</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating" scale="0" sign="-" unitRef="usd" id="ixv-3060">30,226,986</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating" scale="0" sign="-" unitRef="usd" id="ixv-3061">68,317,443</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-left: 10pt; text-indent: -10pt; padding-bottom: 1px">Net realized loss and net change in unrealized appreciation (depreciation)</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperating" scale="0" sign="-" unitRef="usd" id="ixv-3062">44,716,783</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperating" scale="0" sign="-" unitRef="usd" id="ixv-3063">69,510,210</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td style="font-weight: bold; text-align: left; padding-left: 10pt; text-indent: -10pt; font-size: 10pt; padding-bottom: 3px">Net decrease in net assets resulting from operations</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 3px double">$</td><td style="text-align: right; border-bottom: Black 3px double">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetIncomeLoss" scale="0" sign="-" unitRef="usd" id="ixv-3064">44,780,413</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1.5px"/><td style="padding-bottom: 3px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 3px double">$</td><td style="text-align: right; border-bottom: Black 3px double">(<ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetIncomeLoss" scale="0" sign="-" unitRef="usd" id="ixv-3065">69,510,210</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1.5px"/></tr>
</table><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-align: center; text-indent: -0.1in">&#160;</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-align: center; text-indent: -0.1in">The accompanying
notes are an integral part of these financial statements.</p><div>

</div><!-- Field: Page; Sequence: 4; Value: 1 --><div>
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    </div><!-- Field: /Page --><div>

</div><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr>
    <td style="vertical-align: bottom; width: 99%"><b>VANECK ETHEREUM ETF</b></td>
    </tr>
<tr>
    <td style="vertical-align: bottom">Statements of Changes in Net Assets (Unaudited)</td>
    </tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1px solid">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td></tr>
</table><div>
</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1px; padding-left: 10pt; text-indent: -10pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Three<br/> Months<br/> Ended<br/> March 31,<br/> 2026</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Three<br/> Months<br/> Ended<br/> March 31,<br/> 2025</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="font-weight: bold; text-align: left; padding-left: 10pt; text-indent: -10pt; font-size: 10pt">Net decrease from operations</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td style="width: 74%; text-align: left; padding-left: 20pt; text-indent: -10pt">Net investment loss</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetInvestmentIncome" scale="0" sign="-" unitRef="usd" id="ixv-3066">63,630</ix:nonFraction>)</td><td style="width: 1%; text-align: left"/><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right"><ix:nonFraction contextRef="c5" decimals="0" format="ixt:fixed-zero" name="us-gaap:NetInvestmentIncome" scale="0" unitRef="usd" id="ixv-3067">&#8212;</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-left: 20pt; text-indent: -10pt">Net realized loss from investment in ether</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating" scale="0" sign="-" unitRef="usd" id="ixv-3068">14,489,797</ix:nonFraction>)</td><td style="text-align: left"/><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating" scale="0" sign="-" unitRef="usd" id="ixv-3069">1,192,767</ix:nonFraction>)</td><td style="text-align: left"/></tr>
<tr style="vertical-align: bottom; ">
    <td style="text-align: left; padding-bottom: 1px; padding-left: 20pt; text-indent: -10pt">Net change in unrealized appreciation (depreciation) from investments in ether</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating" scale="0" sign="-" unitRef="usd" id="ixv-3070">30,226,986</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating" scale="0" sign="-" unitRef="usd" id="ixv-3071">68,317,443</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-bottom: 1px; padding-left: 10pt; text-indent: -10pt"><b>Net decrease in net assets resulting
    from operations</b></td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetIncomeLoss" scale="0" sign="-" unitRef="usd" id="ixv-3072">44,780,413</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetIncomeLoss" scale="0" sign="-" unitRef="usd" id="ixv-3073">69,510,210</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td style="padding-left: 10pt; text-indent: -10pt; font-size: 10pt"><b>Capital Share transactions</b></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-left: 20pt; text-indent: -10pt">Contributions for shares issued</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockIssuedDuringPeriodValueNewIssues" scale="0" unitRef="usd" id="ixv-3074">34,473,179</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockIssuedDuringPeriodValueNewIssues" scale="0" unitRef="usd" id="ixv-3075">9,957,156</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td style="text-align: left; padding-bottom: 1px; padding-left: 20pt; text-indent: -10pt">Withdrawals for shares redeemed</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockRepurchasedAndRetiredDuringPeriodValue" scale="0" unitRef="usd" id="ixv-3076">40,496,007</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockRepurchasedAndRetiredDuringPeriodValue" scale="0" unitRef="usd" id="ixv-3077">2,207,029</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-bottom: 1px; padding-left: 20pt; text-indent: -10pt"><b>Net increase (decrease) in capital
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    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:InvestmentCompanyIncreaseDecreaseFromShareTransaction" scale="0" sign="-" unitRef="usd" id="ixv-3078">6,022,828</ix:nonFraction>)</td><td style="text-align: left; padding-bottom: 1px"/><td style="padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-left: 10pt; text-indent: -10pt; font-size: 10pt"><b>Net assets:</b></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td style="padding-bottom: 1px; padding-left: 20pt; text-indent: -10pt">Beginning of period</td><td style="padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="padding-bottom: 3px; padding-left: 20pt; text-indent: -10pt"><b>End of period</b></td><td style="padding-bottom: 3px">&#160;</td>
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</table><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">The accompanying
notes are an integral part of these financial statements.</p><div>

</div><!-- Field: Page; Sequence: 5; Value: 1 --><div>
    </div><div style="margin-top: 10pt; margin-bottom: 6pt; padding-bottom: 12pt; border-bottom: Silver 4px solid"><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></td></tr></table></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"><b>VANECK ETHEREUM ETF</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">Schedules of<b> </b>Investment</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 1px solid">&#160;</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-align: center; padding-bottom: 1px"><span style="text-decoration:underline">March 31, 2026 (Unaudited)</span></td><td style="padding-bottom: 1px">&#160;</td>
    <td colspan="2">&#160;</td><td style="padding-bottom: 1px">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td colspan="2">&#160;</td><td style="padding-bottom: 1px">&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="font-weight: bold">&#160;</td><td style="padding-bottom: 1px; font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; padding-bottom: 1px"><span style="text-decoration:underline">Description</span></td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
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    <td colspan="2" style="font-weight: bold; border-bottom: Black 1px solid; text-align: center">Fair Value</td><td style="padding-bottom: 1px; font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="width: 34%; padding-bottom: 1px">Ether</td><td style="width: 20%; padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; ">
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    <td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px; text-align: right">&#160;</td><td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-bottom: 1px">Liabilities in Excess of Other Assets &#8211; (0.02)%</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px; text-align: right">&#160;</td><td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px; text-align: right">&#160;</td><td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; ">
    <td style="font-weight: bold; text-align: left; padding-bottom: 3px">Net Assets &#8211; 100.00%</td><td style="padding-bottom: 3px">&#160;</td>
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    <td style="padding-bottom: 3px; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 3px; font-weight: bold; text-align: right"/><td style="padding-bottom: 3px; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 3px">&#160;</td>
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<tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
</table><div>


</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td style="text-align: center"><b><span style="text-decoration:underline">December 31, 2025</span></b></td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1px"><b><span style="text-decoration:underline">Description</span></b></td><td style="padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1px solid"><b>Quantity</b></td><td style="padding-bottom: 1px"><b>&#160;</b></td><td style="padding-bottom: 1px"><b>&#160;</b></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1px solid"><b>Cost</b></td><td style="padding-bottom: 1px"><b>&#160;</b></td><td style="padding-bottom: 1px"><b>&#160;</b></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1px solid"><b>Fair Value</b></td><td style="padding-bottom: 1px"><b>&#160;</b></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="width: 34%; padding-bottom: 1px">Ether</td><td style="width: 20%; padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; ">
    <td style="text-align: left; padding-bottom: 1px">Total Investment in ether &#8211; 100.02%</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px; text-align: right">&#160;</td><td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px; text-align: right">&#160;</td><td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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    <td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px; text-align: right">&#160;</td><td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px; text-align: right">&#160;</td><td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; ">
    <td style="text-align: left; padding-bottom: 3px"><b>Net Assets &#8211; 100.00%</b></td><td style="padding-bottom: 3px">&#160;</td>
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    <td style="padding-bottom: 3px; text-align: left">&#160;</td><td style="padding-bottom: 3px; text-align: right">&#160;</td><td style="padding-bottom: 3px; text-align: left">&#160;</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left"><b>$</b></td><td style="border-bottom: Black 3px double; text-align: right"><b><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AssetsNet" scale="0" unitRef="usd" id="ixv-3097">157,578,941</ix:nonFraction></b></td><td style="padding-bottom: 3px; text-align: left">&#160;</td></tr>
</table><div>


</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part
of these financial statements.</p><div>

</div><!-- Field: Page; Sequence: 6; Value: 1 --><div>
    </div><div style="margin-top: 10pt; margin-bottom: 6pt; padding-bottom: 12pt; border-bottom: Silver 4px solid"><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></td></tr></table></div><div>
    </div><div style="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: left; width: 100%"/></tr></table></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"><b>VANECK ETHEREUM ETF</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">Notes to Unaudited Financial Statements</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">March 31, 2026</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 1px solid">&#160;</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="us-gaap:NatureOfOperations" id="ixv-1272"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 1. Organization:</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">VanEck Ethereum ETF (the &#8220;Trust&#8221;),
a Delaware statutory trust, is an exchange-traded fund that issues common shares of beneficial interest in an ownership of the
Trust (the &#8220;Shares&#8221;). The Shares are traded on the Cboe BZX Exchange, Inc. (the &#8220;Exchange&#8221;). The Trust&#8217;s
investment objective is to reflect the performance of the price of ether (&#8220;ETH&#8221;) less the net operating expenses of
the Trust. The Trust is managed and controlled by VanEck Digital Assets, LLC (the &#8220;Sponsor&#8221;), a wholly-owned subsidiary
of Van Eck Associates Corporation (&#8220;VanEck&#8221;). The CSC Delaware Trust Company is the &#8220;Trustee&#8221; of the Trust.</p></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_SignificantAccountingPoliciesTextBlock-c0_cont_1" escape="true" name="us-gaap:SignificantAccountingPoliciesTextBlock" id="ixv-1280"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 2. Significant Accounting Policies:</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<ix:nonNumeric contextRef="c0" continuedAt="_BasisOfAccountingPolicyPolicyTextBlock-c0_cont_1" escape="true" name="us-gaap:BasisOfAccountingPolicyPolicyTextBlock" id="ixv-1284"><ix:nonNumeric contextRef="c0" continuedAt="_UseOfEstimates-c0_cont_1" escape="true" name="us-gaap:UseOfEstimates" id="ixv-1285"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">A.</td> <td><i>Basis of Preparation and Use of Estimates</i></td></tr>
</table></ix:nonNumeric></ix:nonNumeric>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

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in conformity with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) requires management to make estimates and
assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those
estimates.</p></ix:continuation></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation id="_BasisOfAccountingPolicyPolicyTextBlock-c0_cont_2"><ix:continuation id="_UseOfEstimates-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust qualifies as an investment
company solely for accounting purposes and not for any other purpose and follows accounting and reporting requirements of Accounting
Standards Codification (&#8220;ASC&#8221;) Topic 946 Financial Services&#8212;Investment Companies<i> </i>(&#8220;ASC Topic 946&#8221;)<i>,
</i>but is not registered, and is not required to be registered, as an investment company under the Investment Company Act of
1940, as amended.</p></ix:continuation></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c0" continuedAt="_CashAndCashEquivalentsPolicyTextBlock-c0_cont_1" escape="true" name="us-gaap:CashAndCashEquivalentsPolicyTextBlock" id="ixv-1302"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">B.</td> <td><i>Cash</i> </td></tr>
</table></ix:nonNumeric>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation id="_CashAndCashEquivalentsPolicyTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Cash, if any, represents cash
deposits held at a major financial institution and is subject to credit risk to the extent its balance exceeds the federally insured
limits. As of March 31, 2026 and December 31, 2025, the Trust did <ix:nonFraction contextRef="c2" decimals="0" format="ixt:fixed-zero" name="us-gaap:Cash" scale="0" unitRef="usd" id="ixv-3098"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:fixed-zero" name="us-gaap:Cash" scale="0" unitRef="usd" id="ixv-3099">no</ix:nonFraction></ix:nonFraction>t hold cash.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c0" continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_1" escape="true" name="us-gaap:FairValueMeasurementPolicyPolicyTextBlock" id="ixv-1312"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">C.</td> <td><i>Investment Valuation</i></td></tr>
</table></ix:nonNumeric>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

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in ETH and other assets and liabilities at fair value. Fair value is the price that would be received to sell an asset or paid
to transfer a liability in an orderly transaction between market participants on the measurement date.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_3" id="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust identifies and determines
the ETH principal market (or in the absence of a principal market, the most advantageous market) for GAAP financial statement
purposes consistent with the application of fair value measurement framework in Financial Accounting Standards Board (&#8220;FASB&#8221;)
ASC 820 at 11:59 p.m. EST. Under ASC 820, a principal market is the market with the greatest volume and activity level for the
asset or liability. The Sponsor on behalf of the Trust will determine in its sole discretion the valuation sources and policies
used to prepare the Trust&#8217;s financial statements in accordance with GAAP.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_4" id="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Various inputs are used in determining
the fair value of assets and liabilities. Inputs may be based on independent market data or they may be internally developed.
These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The
three levels of the fair value hierarchy are as follows:</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_5" id="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Level 1 &#8211; Unadjusted quoted prices
in active markets for identical assets or liabilities;</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&#160;</p>

<ix:continuation continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_6" id="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Level 2 &#8211; Inputs other than
quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including
quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities
in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability,
and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_7" id="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Level 3 &#8211; Unobservable
inputs where there are little or no market activity for the asset or liability, including the Trust&#8217;s assumptions used in
determining the fair value of investments.</p></ix:continuation></ix:nonNumeric><div>

</div><!-- Field: Page; Sequence: 7; Value: 1 --><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"><b>VANECK ETHEREUM ETF</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">Notes to Unaudited Financial Statements (continued)</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">March 31, 2026</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 1px solid">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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hierarchy as of March 31, 2026, and December 31, 2025:</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&#160;</p>

<ix:continuation continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_9" id="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_8"><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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<tr style="vertical-align: bottom">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&#160;</p>

<ix:continuation id="_FairValueMeasurementPolicyPolicyTextBlock-c0_cont_10"><table cellpadding="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="width: 36pt; background-color: White">&#160;</td>
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="background-color: White">&#160;</td>
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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-indent: 0pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left">&#160;</td></tr>
</table></ix:continuation></ix:nonNumeric>

<ix:nonNumeric contextRef="c0" continuedAt="ethv_EthereumPolicyTextBlock-c0_cont_1" escape="true" name="ethv:EthereumPolicyTextBlock" id="ixv-1763"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">D.</td> <td><i>Ether</i></td></tr>
</table></ix:nonNumeric>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation id="ethv_EthereumPolicyTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">ETH transactions are accounted
for on trade date. Realized gains and losses on the sale of ETH are determined based on the average cost method. Under ASC Topic
946, the average cost method is an accepted method to determine realized gains and losses on the sale of ETH. Proceeds received
by the Trust from the issuance of baskets consist of ETH. Deposits of ETH are held by Gemini Trust Company, LLC (the &#8220;ETH
Custodian&#8221;) and at Coinbase Custody Trust Company, LLC (the &#8220;Additional ETH Custodian&#8221;, and collectively the
&#8220;ETH Custodians&#8221;), on behalf of the Trust until (i) delivered out in connection with redemptions of baskets or cash
or (ii) sold by the Sponsor, which may be facilitated by the ETH Custodians, to pay fees due to the Sponsor and Trust expenses
and liabilities not assumed by the Sponsor.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c0" continuedAt="_EarningsPerSharePolicyTextBlock-c0_cont_1" escape="true" name="us-gaap:EarningsPerSharePolicyTextBlock" id="ixv-1773"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">E.</td> <td><i>Calculation of Net Asset Value</i></td></tr>
</table></ix:nonNumeric>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation id="_EarningsPerSharePolicyTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust&#8217;s net asset value
(&#8220;NAV&#8221;) is calculated based on the Trust&#8217;s net asset holdings, as reconciled to the ETH Custodians&#8217; accounts,
on a market approach determined on a daily basis using the MarketVector<sup>TM</sup> Ethereum Benchmark Rate price at 4:00 pm
EST. The Trust&#8217;s NAV per Share is calculated by taking the current market value of its total assets, subtracting any liabilities,
and then dividing that total by the total number of outstanding Shares. The Trust Agreement gives the Sponsor the exclusive authority
to determine the Trust&#8217;s NAV and the Trust&#8217;s NAV per Share, which it has delegated to the Administrator.</p></ix:continuation></ix:continuation><div>

</div><!-- Field: Page; Sequence: 8; Value: 1 --><div>
    </div><div style="margin-top: 10pt; margin-bottom: 6pt; padding-bottom: 12pt; border-bottom: Silver 4px solid"><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></td></tr></table></div><div>
    </div><div style="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: left; width: 100%"/></tr></table></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>VANECK ETHEREUM ETF</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">Notes to Unaudited Financial Statements (continued)</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">March 31, 2026</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 1px solid">&#160;</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><ix:continuation id="_SignificantAccountingPoliciesTextBlock-c0_cont_2"><ix:nonNumeric contextRef="c0" continuedAt="_IncomeTaxPolicyTextBlock-c0_cont_1" escape="true" name="us-gaap:IncomeTaxPolicyTextBlock" id="ixv-1808"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">F.</td> <td><i>Federal Income Taxes</i></td></tr>
</table></ix:nonNumeric>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation id="_IncomeTaxPolicyTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust is treated as a grantor
trust for federal income tax purposes and, therefore, no provision for federal income taxes is required. Any interest, expenses,
gains and losses are passed through to the holders of Shares of the Trust. The Sponsor has reviewed the tax positions for the
periods presented and has determined that no provision for income tax is required in the Trust&#8217;s financial statements.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c0" continuedAt="_SegmentReportingPolicyPolicyTextBlock-c0_cont_1" escape="true" name="us-gaap:SegmentReportingPolicyPolicyTextBlock" id="ixv-1818"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">G.</td> <td><i>Segment Reporting</i></td></tr>
</table></ix:nonNumeric>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation id="_SegmentReportingPolicyPolicyTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Chief Financial Officer and
Treasurer of the Sponsor acts as the Trust&#8217;s chief operating decision maker (&#8220;CODM&#8221;), assessing performance
and making decisions about resource allocation. The CODM has determined that the Trust has a <span style="-sec-ix-hidden: hidden-fact-2">single</span> operating segment based on
the fact that the Trust&#8217;s long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus,
with a defined investment strategy which is executed by the Sponsor.<span style="color: #03871A"> </span>The financial information
provided to and reviewed by the CODM is presented within the Trust&#8217;s financial statements.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c0" continuedAt="ethv_InterimFinancialStatementsPolicyTextBlock-c0_cont_1" escape="true" name="ethv:InterimFinancialStatementsPolicyTextBlock" id="ixv-1830"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">H.</td> <td><i>Interim financial statements</i></td></tr>
</table></ix:nonNumeric>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ethv_InterimFinancialStatementsPolicyTextBlock-c0_cont_2" id="ethv_InterimFinancialStatementsPolicyTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The financial statements included
herein were prepared without audit according to the rules and regulations of the Securities and Exchange Commission. Certain information
and footnote disclosures normally included in financial statements prepared in accordance with GAAP may be omitted pursuant to
such rules and regulations. The financial statements reflect, in the opinion of management, all adjustments necessary that were
of a normal and recurring nature and adequate disclosures to present fairly the financial position and results of operations as
of and for the periods indicated. The results of operations for the three months ended March 31, 2026 and 2025, are not necessarily
indicative of the results to be expected for the full year or for any other period.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<ix:continuation id="ethv_InterimFinancialStatementsPolicyTextBlock-c0_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">These financial statements should
be read in conjunction with the audited financial statements and the notes thereto included in the Form 10-K previously filed
with the SEC.</p></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="ethv:TrustExpensesandOtherAgreementsTextBlock" id="ixv-1845"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 3. Trust Expenses and Other Agreements</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trust pays the Sponsor a unified fee
(the &#8220;Sponsor Fee&#8221;) of <ix:nonFraction contextRef="c24" decimals="4" format="ixt:num-dot-decimal" name="ethv:SponsorFeeAtMonthlyRateOfAverageDailyNetAssets" scale="-2" unitRef="pure" id="ixv-3132">0.20</ix:nonFraction>% of average daily net assets that accrues daily and pays monthly. For the period from
July 23, 2024 through July 22, 2025, the Sponsor waived the entire Sponsor Fee for the first $<ix:nonFraction contextRef="c25" decimals="-8" format="ixt:num-dot-decimal" name="us-gaap:SponsorFees" scale="9" unitRef="usd" id="ixv-3133">1.5</ix:nonFraction> billion of the Trust&#8217;s
net assets. The Sponsor has agreed to pay all operating expenses (except for litigation expenses and other extraordinary expenses)
from the Sponsor Fee. The Sponsor from time to time will sell ETH, which may be facilitated by one or more liquidity providers
and/or the ETH Custodians, in such quantity as is necessary to permit payment of the Sponsor Fee and Trust expenses and liabilities
not assumed by the Sponsor.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trustee fee is paid by the Sponsor
and is not an expense of the Trust.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trust holds its ETH at the ETH Custodian
and at the Additional ETH Custodian, both of which are regulated third-party custodians that carry insurance (in the case of the
Additional ETH Custodian, such insurance is carried by its parent, Coinbase Inc., and is intended to cover the loss of client
assets held by Coinbase Inc. and its subsidiaries, including the Additional ETH Custodian) and are responsible for safekeeping
of ETH owned by the Trust and holding private keys that provide access to the ETH in the Trust&#8217;s ETH account.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">State Street Bank and Trust Company serves as the Trust&#8217;s
administrator, transfer agent and cash custodian.</p></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_RelatedPartyTransactionsDisclosureTextBlock-c0_cont_1" escape="true" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock" id="ixv-1859"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 4. Related Parties</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Sponsor is considered to be a related party to the Trust.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">MarketVector Indexes GmbH is the index
sponsor and index administrator for the MarketVector Ethereum Benchmark Rate, which is used by the Trust to determine its NAV.
MarketVector Indexes GmbH is an indirectly wholly-owned subsidiary of VanEck.</p></ix:nonNumeric><div>

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    </div><div style="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: left; width: 100%"/></tr></table></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"><b>VANECK ETHEREUM ETF</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">Notes to Unaudited Financial Statements (continued)</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">March 31, 2026</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 1px solid">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><ix:continuation id="_RelatedPartyTransactionsDisclosureTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Van Eck Securities Corporation, a marketing agent to the Trust,
is a wholly-owned subsidiary of VanEck.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">VanEck is a minority interest holder in
the parent company of the ETH Custodian, representing less than <ix:nonFraction contextRef="c26" decimals="INF" format="ixt:num-dot-decimal" name="us-gaap:MinorityInterestOwnershipPercentageByParent" scale="-2" unitRef="pure" id="ixv-3134">1</ix:nonFraction>% of its equity.</p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock" id="ixv-1897"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 5. Capital Share Transactions</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Investors can buy and sell Shares of the
Trust in secondary market transactions through brokers. Shares trade on the Exchange under the ticker symbol ETHV. Shares are
bought and sold throughout the trading day like other publicly traded securities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trust continuously offers the Shares
in baskets consisting of <ix:nonFraction contextRef="c27" decimals="INF" format="ixt:num-dot-decimal" name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" scale="0" unitRef="shares" id="ixv-3135">25,000</ix:nonFraction> Shares to authorized participants. Authorized participants pay a transaction fee for each order
they place to create or redeem one or more baskets. The Administrator calculates the cost to purchase (or sell in the case of
a redemption order) the amount of ETH represented by the baskets being created (or redeemed); the amount of ETH represented is
equal to the combined NAV of the number of Shares included in the baskets being created (or redeemed).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trust creates and redeems Shares, but
only in one or more baskets. Baskets are only made in exchange for delivery to the Trust or the distribution by the Trust of the
amount of ETH represented by the baskets being created or redeemed, the amount of which is equal to the combined NAV of the number
of Shares included in the baskets being created or redeemed determined as of 4:00 p.m. EST on the day the order to create or redeem
baskets is properly received. The authorized participants deliver cash or ETH to create baskets and receive cash or ETH when redeeming
Shares. For a subscription in cash, an authorized participant will deliver cash to the Trust&#8217;s account at the cash custodian,
which the Sponsor will then use to purchase ETH from a liquidity provider chosen by the Sponsor. For a redemption in cash, the
Sponsor will arrange for the ETH represented by the basket to be sold to a liquidity provider chosen by the Sponsor and the cash
proceeds distributed from the Trust&#8217;s account at the cash custodian to the authorized participant. For an &#8220;in-kind&#8221;
subscription, authorized participants will deliver, or arrange for the delivery by the authorized participant&#8217;s designee
of, ETH to the Trust&#8217;s account with the ETH Custodian or Additional ETH Custodian in exchange for Shares when they purchase
Shares. For an &#8220;in-kind&#8221; redemption transaction with the Trust, when authorized participants redeem Shares, the Trust
through the ETH Custodian or the Additional ETH Custodian, will deliver ETH to such authorized participants, or a designee thereof,
in exchange for their Shares. Only authorized participants may place orders to create and redeem baskets through the transfer
agent. The transfer agent will coordinate with the Trust&#8217;s ETH Custodians to facilitate settlement of the Shares and ETH.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c0" escape="true" name="us-gaap:ScheduleOfStockholdersEquityTableTextBlock" id="ixv-1907"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Share and capital activity is as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 60%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="14" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1px; font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1px; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1px; font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1px; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1px; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1px; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1px; font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="width: 44%">Beginning of period</td><td style="width: 2%">&#160;</td>
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    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockholdersEquity" scale="0" unitRef="usd" id="ixv-3137">182,710,597</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
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<tr style="vertical-align: bottom; ">
    <td>Shares issued</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockIssuedDuringPeriodValueNewIssues" scale="0" unitRef="usd" id="ixv-3141">34,473,179</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockIssuedDuringPeriodValueNewIssues" scale="0" unitRef="usd" id="ixv-3143">9,957,156</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="padding-bottom: 1px">Shares redeemed</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="border-bottom: Black 1px solid; text-align: left">&#160;</td><td style="border-bottom: Black 1px solid; text-align: right">(<ix:nonFraction contextRef="c0" decimals="INF" format="ixt:num-dot-decimal" name="us-gaap:StockRedeemedOrCalledDuringPeriodShares" scale="0" unitRef="shares" id="ixv-3144">1,150,000</ix:nonFraction>)</td><td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="border-bottom: Black 1px solid; text-align: left">&#160;</td><td style="border-bottom: Black 1px solid; text-align: right">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockRedeemedOrCalledDuringPeriodValue" scale="0" unitRef="usd" id="ixv-3145">40,496,007</ix:nonFraction>)</td><td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="border-bottom: Black 1px solid; text-align: left">&#160;</td><td style="border-bottom: Black 1px solid; text-align: right">(<ix:nonFraction contextRef="c5" decimals="INF" format="ixt:num-dot-decimal" name="us-gaap:StockRedeemedOrCalledDuringPeriodShares" scale="0" unitRef="shares" id="ixv-3146">75,000</ix:nonFraction>)</td><td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="border-bottom: Black 1px solid; text-align: left">&#160;</td><td style="border-bottom: Black 1px solid; text-align: right">(<ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockRedeemedOrCalledDuringPeriodValue" scale="0" unitRef="usd" id="ixv-3147">2,207,029</ix:nonFraction>)</td><td style="padding-bottom: 1px; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td style="padding-bottom: 3px">End of period</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left">&#160;</td><td style="border-bottom: Black 3px double; text-align: right"><ix:nonFraction contextRef="c2" decimals="INF" format="ixt:num-dot-decimal" name="us-gaap:SharesOutstanding" scale="0" unitRef="shares" id="ixv-3148">3,475,000</ix:nonFraction></td><td style="padding-bottom: 3px; text-align: left">&#160;</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockholdersEquity" scale="0" unitRef="usd" id="ixv-3149">176,687,769</ix:nonFraction></td><td style="padding-bottom: 3px; text-align: left">&#160;</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left">&#160;</td><td style="border-bottom: Black 3px double; text-align: right"><ix:nonFraction contextRef="c7" decimals="INF" format="ixt:num-dot-decimal" name="us-gaap:SharesOutstanding" scale="0" unitRef="shares" id="ixv-3150">3,150,000</ix:nonFraction></td><td style="padding-bottom: 3px; text-align: left">&#160;</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right"><ix:nonFraction contextRef="c7" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockholdersEquity" scale="0" unitRef="usd" id="ixv-3151">145,551,631</ix:nonFraction></td><td style="padding-bottom: 3px; text-align: left">&#160;</td></tr>
</table></ix:nonNumeric></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="us-gaap:CommitmentsAndContingenciesDisclosureTextBlock" id="ixv-2013"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 6. Commitments and Contingent Liabilities</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the normal course of business, the Trust
enters into contracts that contain a variety of general indemnifications. The Trust&#8217;s maximum exposure under these agreements
is unknown as this would involve future claims that may be made against the Trust that have not yet occurred. However, the Sponsor
believes the risk of loss under these arrangements to be remote.</p></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" continuedAt="_ConcentrationRiskDisclosureTextBlock-c0_cont_1" escape="true" name="us-gaap:ConcentrationRiskDisclosureTextBlock" id="ixv-2021"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 7. Concentration Risk</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Substantially all of the Trust&#8217;s
assets are holdings of ETH, which creates a concentration risk associated with fluctuations in the value of ETH due to a number
of factors. Accordingly, a decline in the value of ETH will have an adverse effect on the value of the Shares of the Trust. Factors
that may have the effect of causing a decline in the value of ETH include high volatility, which could have a negative impact
on the performance of the Trust. ETH platforms are</p></ix:nonNumeric><div>

</div><!-- Field: Page; Sequence: 10; Value: 1 --><div>
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    </div><div style="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: left; width: 100%"/></tr></table></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"><b>VANECK ETHEREUM ETF</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">Notes to Unaudited Financial Statements (continued)</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">March 31, 2026</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 1px solid">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><ix:continuation id="_ConcentrationRiskDisclosureTextBlock-c0_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">relatively new and may be unregulated
or may be subject to regulation in a relevant jurisdiction, but may not be complying, and therefore, may be more exposed to fraud
and security breaches than established, regulated exchanges for other financial assets or instruments, which could have a negative
impact on the performance of the Trust. The value of the Shares depends on the development and acceptance of the ethereum network.
The slowing or stopping of the development or acceptance of the ethereum network may adversely affect an investment in the Trust.
The price of ETH on the ETH market has exhibited periods of extreme volatility. Digital assets such as ETH were only introduced
within the past decade, and the medium-to-long term value of the Shares is subject to a number of factors relating to the capabilities
and development of block-chain technologies and to the fundamental investment characteristics of digital assets that are uncertain
and difficult to evaluate. The Trust is subject to risks due to its concentration of investments in a single asset class. Possible
illiquid markets may exacerbate losses or increase the variability between the Trust&#8217;s NAV and its market price. The amount
of ETH represented by the Shares may decline over time.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Future and current regulations by a United
States or foreign government or quasi-governmental agency could have an adverse effect on an investment in the Trust. Shareholders
do not have the protections associated with ownership of Shares in an investment company registered under the 1940 Act or the
protections afforded by the Commodity Exchange Act. Future legal or regulatory developments may negatively affect the value of
ETH or require the Trust or the Sponsor to become registered with the SEC or CFTC, which may cause the Trust to liquidate.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Exchange on which the Shares are listed
may halt trading in the Trust&#8217;s Shares, which would adversely impact a Shareholder&#8217;s ability to sell Shares. The market
infrastructure of the ETH spot market could result in the absence of active authorized participants able to support the trading
activity of the Trust.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shareholders that are not authorized participants
may only purchase or sell their Shares in secondary trading markets, and the conditions associated with trading in secondary markets
may adversely affect Shareholders&#8217; investment in the Shares.</p></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="us-gaap:InvestmentCompanyFinancialHighlightsTextBlock" id="ixv-2061"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 8. Financial Highlights</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<ix:nonNumeric contextRef="c0" escape="true" name="us-gaap:InvestmentCompanyFinancialHighlightsTableTextBlock" id="ixv-2065"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial highlights summarize certain
per share operating information and financial ratios of net investment loss and expenses, to daily average net assets for the
periods below. An individual investor&#8217;s return and ratios may vary based on the timing of capital transactions:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
</table>

<table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 18pt">(a)</td> <td><ix:footnote id="ix_0_footnote" xml:lang="en-US">Net investment loss per share has been calculated based upon an average of daily shares outstanding.</ix:footnote></td></tr>
<tr style="vertical-align: top"> <td>(b)</td> <td><ix:footnote id="ix_1_footnote" xml:lang="en-US">The amount shown for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses for the period because of the timing of sales and repurchases of the Trust&#8217;s shares in relation to fluctuating market values of ETH.</ix:footnote></td></tr>
<tr style="vertical-align: top"> <td>(c)</td> <td>Returns are not annualized and inc lude adjustments required by GAAP. Returns for financial statements purposes may differ from net asset values and performance reported elsewhere by the Trust.</td></tr>
<tr style="vertical-align: top"> <td>(d)</td> <td><ix:footnote id="ix_3_footnote" xml:lang="en-US">Annualized.</ix:footnote></td></tr>
</table></ix:nonNumeric></ix:nonNumeric><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"><b>VANECK ETHEREUM ETF</b></p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">Notes to Unaudited Financial Statements (continued)</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">March 31, 2026</p><div>

</div><p style="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 1px solid">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><ix:nonNumeric contextRef="c0" escape="true" name="us-gaap:SubsequentEventsTextBlock" id="ixv-2283"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 9. Subsequent Event Review</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trust has evaluated subsequent events
and transactions for potential recognition or disclosure through the date the financial statements were issued and has determined
that there are no material events that would require disclosure.</p></ix:nonNumeric><div>

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    </div><!-- Field: /Page --><div>

</div><div><a id="x1_c116315a003"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 2. Management&#8217;s Discussion and Analysis of Financial
Condition and Results of Operations.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>This information should be read in conjunction with the financial
statements and notes to financial statements included with this Report. The discussion and analysis that follows may contain statements
that relate to future events or future performance. In some cases, such forward-looking statements can be identified by terminology
such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;could,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221;
&#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;predict,&#8221; &#8220;potential&#8221; or the
negative of these terms or other comparable terminology. All statements (other than statements of historical fact) included in
this Report that address activities, events or developments that may occur in the future, including such matters as changes in
commodity prices and market conditions (for ETH and the Shares), the operations of the Trust, the plans of the Sponsor and references
to the Trust&#8217;s future success and other similar matters are forward-looking statements. These statements are only predictions.
Actual events or results may differ materially. These statements are based upon certain assumptions and analyses made by the Sponsor
on the basis of its perception of historical trends, current conditions and expected future developments, as well as other factors
it believes are appropriate in the circumstances. Whether or not actual results and developments will conform to the Sponsor&#8217;s
expectations and predictions is subject to a number of risks and uncertainties, including the special considerations discussed
in this Report, general economic, market and business conditions, changes in laws or regulations, including those concerning taxes,
made by governmental authorities or regulatory bodies, and other world economic and political developments. Consequently, all the
forward-looking statements made in this Report are qualified by these cautionary statements, and there can be no assurance that
the actual results or developments the Sponsor anticipates will be realized or, even if substantially realized, will result in
the expected consequences to, or have the expected effects on, the Trust&#8217;s operations or the value of the Shares issued by
the Trust. Moreover, neither the Sponsor nor any other person assumes responsibility for the accuracy or completeness of the forward-looking
statements. Neither the Trust nor the Sponsor undertakes an obligation to publicly update or conform to actual results any forward-looking
statement, whether as a result of new information, future developments or otherwise, except as required by law.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Introduction</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trust is a Delaware statutory trust. The Trust does not
have directors, officers or employees. The creation and operation of the Trust has been arranged by the Sponsor. The Trust is administered
by the Trust Agreement, among the Sponsor and, the Trustee. The Trust is managed and controlled by the Sponsor, a wholly-owned
subsidiary of VanEck. The Sponsor is not governed by a board of directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trust&#8217;s investment objective is to reflect the performance
of the price of ETH less the operating expenses of the Trust. The Trust is a passive investment vehicle that does not seek to pursue
any investment strategy beyond tracking the price of ETH. The Trust does not engage in any activities designed to obtain a profit
from, or ameliorate losses caused by, changes in the price of ETH.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trust issues and redeems Shares only in aggregations of
25,000 Shares, a Basket, or integral multiples thereof, and only in transactions with authorized participants.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shares of the Trust trade on the Exchange under the ticker symbol
&#8220;ETHV.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Computation of Net Asset Value</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trust&#8217;s NAV is calculated based on the Trust&#8217;s
net asset holdings, as reconciled to the ETH Custodians&#8217; accounts, on a market approach determined on a daily basis in accordance
with the MarketVector<sup>TM</sup> Ethereum Benchmark Rate price at 4:00 p.m. EST. The Trust&#8217;s NAV per Share is calculated
by taking the current market value of its total assets, subtracting any liabilities, and then dividing that total by the total
number of outstanding Shares. The Trust Agreement gives the Sponsor the exclusive authority to determine the Trust&#8217;s NAV
and the Trust&#8217;s NAV per Share, which it has delegated to the Administrator.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Liquidity</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trust is not aware of any trends, demands, conditions or
events that are reasonably likely to result in material changes to its liquidity needs. In exchange for a fee, the Sponsor has
agreed to assume most of the expenses incurred by the Trust. As a result, the only ordinary expense of the Trust during the period
covered by this Report was the Sponsor&#8217;s Fee, which was waived during the period. The Trust&#8217;s only source of liquidity
is its sales of ETH.</p><div>

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    </div><!-- Field: /Page --><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Significant Accounting Policies</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In preparing financial statements in conformity with GAAP,
management makes estimates and assumptions that affect the reported amounts of assets, liabilities and disclosures of contingent
assets and liabilities at the date of the financial statements, as well as the reported amount of revenue and expenses reported
during the period. Actual results could differ from these estimates. A description of the valuation of ETH, a critical accounting
policy that the Trust believes is important to understanding its results of operations and financial position, is provided in
the section entitled &#8220;Computation of Net Asset Value&#8221; above. In addition, please refer to Note 2 to the Financial
Statements included in this report for further discussion of the Trust&#8217;s accounting policies.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Results of Operations</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>The Quarter Ended March 31, 2026</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Trust&#8217;s NAV decreased from $157,578,941 at December
31, 2025 to $106,775,700 at March 31, 2026, a 32.24% decrease. The decrease in the Trust&#8217;s NAV resulted primarily from a
decrease in the price of ETH, which decreased 29.28% from $2,971.01 at December 31, 2025 to $2,101.20 at March 31, 2026. The number
of Shares outstanding also decreased from 3,625,000 Shares at December 31, 2025 to 3,475,000 Shares at March 31, 2026, a net result
of 1,000,000 Shares (40 Baskets) being created and 1,150,000 Shares (46 Baskets) being redeemed during the period.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The 29.31% decrease in the NAV per Share from $43.47 at December
31, 2025 to $30.73 at March 31, 2026 is directly related to the 29.28% decrease in the price of ETH during this period.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The NAV per Share of $49.37 on January 14, 2026, was the highest
during the quarter, compared with a low during the quarter of $27.12 on February 23, 2026.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net decrease in net assets resulting from operations for the
quarter ended March 31, 2026, was $44,780,413 resulting from the net change in unrealized depreciation on investment in ETH of
$30,226,986, a net realized loss of $14,464,858 on ETH sold for the redemption of Shares, a net realized loss of $24,939 from
ETH sold to pay expenses during the quarter, and a net investment loss of $63,630. Other than the Net Sponsor Fee of $63,630,
the Trust has no other expenses during the quarter.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="x1_c116315a004"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 3. Quantitative and Qualitative Disclosures About Market
Risk.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="x1_c116315a005"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 4. Controls and Procedures.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The duly authorized officers of the Sponsor performing functions
equivalent to those a principal executive officer and principal financial officer of the Trust would perform if the Trust had
any officers, with the participation of the Trustee, have evaluated the effectiveness of the Trust&#8217;s disclosure controls
and procedures, and have concluded that the disclosure controls and procedures of the Trust were effective as of the end of the
period covered by this Report to provide reasonable assurance that information required to be disclosed in the reports that the
Trust files or submits under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported,
within the time periods specified in the applicable rules and forms, and that it is accumulated and communicated to the duly authorized
officers of the Sponsor performing functions equivalent to those a principal executive officer and principal financial officer
of the Trust would perform if the Trust had any officers, as appropriate to allow timely decisions regarding required disclosure.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There are inherent limitations to the effectiveness of any
system of disclosure controls and procedures, including the possibility of human error and the circumvention or overriding of
the controls and procedures.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There were no changes in the Trust&#8217;s internal control
over financial reporting that occurred during the period covered by this Report that have materially affected, or are reasonably
likely to materially affect, the Trust&#8217;s internal control over financial reporting.</p><div>

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</div><div><a id="x1_c116315a006"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Part II. OTHER INFORMATION.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="x1_c116315a007"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 1. Legal Proceedings.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">None.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="x1_c116315a008"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Item 1A. Risk Factors.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Digital asset markets in the United States exist in a state
of regulatory uncertainty, and adverse legislative or regulatory developments could significantly harm the value of ETH or the
Shares, such as by banning, restricting or imposing onerous conditions or prohibitions on the use of ETH, validating activity,
digital wallets, the provision of services related to trading and providing custody services for ETH, the operation of the Ethereum
network, or the digital asset markets generally</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is a lack of consensus regarding
the regulation of digital assets, including ETH, and their markets. As a result of the growth in the size of the digital asset
market, as well as the 2022 Events, the U.S. Congress and a number of U.S. federal and state agencies (including FinCEN, SEC, Office
of the Comptroller of the Currency (the &#8220;OCC&#8221;), CFTC, FINRA, the Consumer Financial Protection Bureau (&#8220;CFPB&#8221;),
the Department of Justice, the Department of Homeland Security, the Federal Bureau of Investigation, the Internal Revenue Service
(&#8220;IRS&#8221;), state financial institution regulators, and others) have been examining the operations of digital asset networks,
digital asset users and the digital asset markets. Many of these state and federal agencies have brought enforcement actions or
issued consumer advisories regarding the risks posed by digital assets to investors. Ongoing and future regulatory actions with
respect to digital assets generally or ETH in particular may alter, perhaps to a materially adverse extent, the nature of an investment
in the Shares or the ability of the Trust to continue to operate.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2022 Events, including among others
the bankruptcy filings of FTX and its subsidiaries, Three Arrows Capital, Celsius Network, Voyager Digital, Genesis, BlockFi and
others, and other developments in the digital asset markets, have resulted in calls for heightened scrutiny and regulation of the
digital asset industry, with a specific focus on intermediaries such as digital asset platforms, platforms, and custodians. Federal
and state legislatures and regulatory agencies may introduce and enact new laws and regulations to regulate crypto asset intermediaries,
such as digital asset platforms and custodians. The March 2023 collapses of Silicon Valley Bank, Silvergate Bank, and Signature
Bank, which in some cases provided services to the digital asset industry, may amplify and/or accelerate these trends.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">U.S. federal and state regulators, as well
as the White House, have issued reports and releases concerning crypto assets, including ETH and crypto asset markets. Further,
in 2023 the House of Representatives formed two new subcommittees: the Digital Assets, Financial Technology and Inclusion Subcommittee
and the Commodity Markets, Digital Assets, and Rural Development Subcommittee, each of which were formed in part to analyze issues
concerning crypto assets and demonstrate a legislative intent to develop and consider the adoption of federal legislation designed
to address the perceived need for regulation of and concerns surrounding the crypto industry. However, the extent and content of
any forthcoming laws and regulations are not yet ascertainable with certainty, and it may not be ascertainable in the near future.
We cannot predict how these and other related events will affect us or the crypto asset business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There remains substantial uncertainty regarding
the regulation of digital assets, including ETH, and their markets, notwithstanding certain recent federal interpretive actions
intended to provide additional clarity. On March 17, 2026, the SEC issued an interpretive release (the &#8220;Interpretive Release&#8221;)
regarding the application of the federal securities laws to certain types of digital assets and certain transactions involving
digital assets., and the CFTC concurrently provided guidance that it and its staff will administer the Commodity Exchange Act consistent
with that interpretation. Among other things, the Interpretive Release introduces a taxonomy for crypto addresses how a non-security
crypto asset may become subject to, and may cease to be subject to, an investment contract; and clarifies the application of the
federal securities laws to airdrops, protocol mining, protocol staking and the wrapping of a non-security crypto asset. Although
the March 17, 2026 interpretive guidance may provide greater clarity in certain respects, this guidance is not binding law, may
be revised, and does not eliminate uncertainty, particularly with respect to the regulatory treatment of specific activities or
transactions involving crypto assets. In August 2021, the chair of the SEC stated that he believed investors using digital asset
trading platforms are not adequately protected, and that activities on the platforms can implicate the securities laws, commodities
laws and banking laws, raising a number of issues related to protecting investors and consumers, guarding against illicit activity,
and ensuring financial stability. The chair expressed a need for the SEC to have additional authorities to prevent transactions,
products, and platforms from &#8220;falling between regulatory cracks,&#8221; as well as for more resources to protect investors
in &#8220;this growing and volatile sector.&#8221; The chair called for federal legislation centering on digital asset trading,
lending, and decentralized finance platforms, seeking &#8220;additional plenary authority&#8221; to write rules for digital asset
trading and lending. It is not possible to predict whether, or when, any of these developments will lead to Congress granting additional
authorities to the CFTC, SEC or other regulators, what the nature of such additional authorities might be, how additional legislation
and/or regulatory oversight might impact the ability of digital asset markets </p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">to function or how any new regulations or changes
to existing regulations might impact the value of digital assets generally and ETH held by the Trust specifically. The consequences
of increased federal regulation of digital assets and digital asset activities could have a material adverse effect on the Trust
and the Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FinCEN requires any administrator or exchanger
of convertible virtual currency (&#8220;CVC&#8221;) to register with FinCEN as a money transmitter and comply with the anti- money
laundering regulations applicable to money transmitters. Entities which fail to comply with such regulations are subject to fines,
may be required to cease operations, and could have potential criminal liability. For example, in 2015, FinCEN assessed a $700,000
fine against a sponsor of a digital asset for violating several requirements of the Bank Secrecy Act by acting as an MSB and selling
the digital asset without registering with FinCEN, and by failing to implement and maintain an adequate anti-money laundering program.
In 2017, FinCEN assessed a $110,000,000 fine against BTC-e, a now defunct digital asset exchange, for similar violations. The requirement
that exchangers that do business in the United States register with FinCEN and comply with anti- money laundering regulations may
increase the cost of buying and selling ETH and therefore may adversely affect the price of ETH and an investment in the Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Office of Foreign Assets Control (&#8220;OFAC&#8221;)
of the U.S. Department of the Treasury (the &#8220;U.S. Treasury Department&#8221;) has added digital currency addresses, including
addresses on the Ethereum Blockchain, to the list of Specially Designated Nationals whose assets are blocked, and with whom U.S.
persons are generally prohibited from dealing. Such actions by OFAC, or by similar organizations in other jurisdictions, may introduce
uncertainty in the market as to whether ETH that has been associated with such addresses in the past can be easily sold. This &#8220;tainted&#8221;
ETH may trade at a substantial discount to untainted ETH. Reduced fungibility in the ETH markets may reduce the liquidity of ETH
and therefore adversely affect their price.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February 2020, then-U.S. Treasury Secretary
Steven Mnuchin stated that digital assets were a &#8220;crucial area&#8221; on which the U.S. Treasury Department has spent significant
time. Secretary Mnuchin announced that the U.S. Treasury Department is preparing significant new regulations governing digital
asset activities to address concerns regarding the potential use for facilitating money laundering and other illicit activities.
In December 2020, FinCEN, a bureau within the U.S. Treasury Department, proposed a rule that would require financial institutions
to submit reports, keep records, and verify the identity of customers for certain transactions to or from so-called &#8220;unhosted&#8221;
wallets, also commonly referred to as self-hosted wallets. In January 2021, then U.S. Treasury Secretary nominee Janet Yellen stated
her belief that regulators should &#8220;look closely at how to encourage the use of digital assets for legitimate activities while
curtailing their use for malign and illegal activities.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under regulations from the New York State
Department of Financial Services (&#8220;NYDFS&#8221;), businesses involved in digital asset business activity for third parties
in or involving New York, excluding merchants and consumers, must apply for a license, commonly known as a BitLicense, from the
NYDFS and must comply with anti-money laundering, cybersecurity, consumer protection, and financial and reporting requirements,
among others. As an alternative to a BitLicense, a firm can apply for a charter to become a limited purpose trust company under
New York law qualified to engage in certain digital asset business activities. Other states have considered or approved digital
asset business activity statutes or rules, passing, for example, regulations or guidance indicating that certain digital asset
business activities constitute money transmission requiring licensure.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The inconsistency in applying money transmitting
licensure requirements to certain businesses may make it more difficult for these businesses to provide services, which may affect
consumer adoption of ETH and its price. In an attempt to address these issues, the Uniform Law Commission passed a model law in
July 2017, the Uniform Regulation of Virtual Currency Businesses Act, which has many similarities to the BitLicense and features
a multistate reciprocity licensure feature, wherein a business licensed in one state could apply for accelerated licensure procedures
in other states. It is still unclear, however, how many states, if any, will adopt some or all of the model legislation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Law enforcement agencies have often relied
on the transparency of blockchains to facilitate investigations. However, certain privacy-enhancing features have been, or are
expected to be, introduced to a number of digital asset networks. If the Ethereum network were to adopt any of these privacy-enhancing
features, these features may provide law enforcement agencies with less visibility into transaction-level data. Europol, the European
Union&#8217;s law enforcement agency, released a report in October 2017 noting the increased use of privacy-enhancing digital assets
like Zcash and Monero in criminal activity on the internet. In May 2022, OFAC banned all U.S. persons from using Blender.io, a
digital asset mixing application that operates on the Ethereum Blockchain to obfuscate the origin, destination and counterparties
of blockchain transactions, by adding certain digital asset wallet addresses associated with Blender.io to its Specially Designated
Nationals list. Blender.io receives a variety of transactions and mixes them together before transmitting them to their ultimate
destinations. On March 23, 2022, Lazarus Group, a state-sponsored cyber hacking group associated with North Korea, carried out
a major virtual currency heist from a blockchain project linked to the online game Axie Infinity&#894; Blender.io was used in processing
some of the illicit proceeds. The U.S. Treasury Department&#8217;s press release announcing the sanctions on Blender.io observed
that, while most virtual currency activity is licit, virtual currency can be used for illicit activity, including sanctions evasion,
through mixers, peer-to-peer exchangers, darknet markets, and exchanges. This includes the facilitation of heists, ransomware schemes,
and other cybercrimes. </p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 19, 2023, FinCEN published proposed rulemaking to apply the authorities in Section 311 of the
USA PATRIOT Act to impose requirements on financial institutions that engage in CVC transactions with CVC mixers. The proposed
rule, if adopted, would require covered financial institutions to report to FinCEN any CVC transactions they process that involves
CVC mixing within or involving a jurisdiction outside the United States. The term &#8220;CVC mixing&#8221; covers more than just
transactions that involve CVC mixers like Tornado Cash, and seemingly could cover a broader range of conduct involving technologies,
services, or methods that have the effect of obfuscating the source, destination, or amount of a CVC transaction, whether or not
the obfuscation was intentional. If the rule were to be adopted as proposed and if the Ethereum Blockchain were to be deemed to
or were to adopt features which come within the rule&#8217;s ambit, it could cause covered financial institutions - such as many
digital asset platforms, or the Trust&#8217;s service providers, such as the Cash Custodian - to reduce support for or cease offering
services for ETH or to the Trust, which could impair the utility of ETH, the value of the Shares and the Trust&#8217;s ability
to operate in compliance with new laws and regulations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>A Determination That ETH Or Any Other Digital Asset Is A
&#8220;Security&#8221; May Adversely Affect The Value Of ETH And The Value Of The Shares, And Result In Potentially Extraordinary,
Nonrecurring Expenses To, Or Termination Of, The Trust.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Depending on its characteristics, a digital asset may be considered
a &#8220;security&#8221; under the federal securities laws. The test for determining whether a particular digital asset is a &#8220;security&#8221;
is complex and difficult to apply, and the outcome is difficult to predict. Public, though non-binding, statements made in the
past by senior officials at the SEC and endorsed by its previous Chairman in a letter to a member of Congress appeared to indicate
that the SEC did not consider ETH to be a security at that time. The SEC has brought enforcement actions against the issuers and
promoters of several other digital assets on the basis that the digital assets in question are securities. The CFTC has for years
considered ETH to be a commodity subject to its regulatory jurisdiction, supported by certain federal district court decisions,
and ETH Futures have been listed for years on CFTC-regulated exchanges while cleared ETH swaps have been listed for trading on
CFTC-regulated swap execution facilities not registered with the SEC without being deemed &#8220;mixed swaps&#8221; subject to
joint CFTC and SEC jurisdiction to the Sponsor&#8217;s knowledge.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Whether a digital asset is a security under the federal securities
laws depends on whether it is included in the lists of instruments making up the definition of &#8220;security&#8221; in the&#160;1933
Act, the&#160;Exchange Act&#160;and the&#160;Investment Company Act. Digital assets as such do not appear in any of these lists,
although each list includes the terms &#8220;investment contract&#8221; and &#8220;note,&#8221; and the SEC has typically analyzed
whether a particular digital asset is a security by reference to whether it meets the tests developed by the federal courts interpreting
these terms, known as the Howey and Reves tests, respectively. For many digital assets, whether or not the Howey or Reves tests
are met is difficult to resolve definitively, and substantial legal arguments can often be made both in favor of and against a
particular digital asset qualifying as a security under one or both of the Howey and Reves tests. Adding to the complexity, the
SEC staff has indicated that the security status of a particular digital asset can change over time as the relevant facts evolve.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the Interpretive Release, the SEC stated that, based on its
current understanding of the digital asset markets, ether is a &#8220;digital commodity&#8221; and not itself a security. Although
the Interpretive Release represents the official position of the SEC, it is not itself a statute or binding rule, does not supersede
or replace the Howey test, is based on the SEC&#8217;s current understanding of the digital asset markets, and may be refined,
revised or expanded. In addition, a court, regulator, or future administration could take a different view, and future legislation,
rulemaking, enforcement positions, judicial decisions or other developments could result in ether, the Trust, the Shares or transactions
involving ether being treated differently than contemplated by the Interpretive Release. Any such developments could adversely
affect the Trust and the value of the Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As part of determining whether ETH is a security for purposes
of the federal securities laws, the Sponsor takes into account a number of factors, including the various definitions of &#8220;security&#8221;
under the federal securities laws and federal court decisions interpreting elements of these definitions, such as the U.S. Supreme
Court&#8217;s decisions in the Howey and Reves cases, as well as reports, orders, press releases, public statements and speeches
by the SEC and its staff providing guidance on when a digital asset may be a security for purposes of the federal securities laws,
and other materials relevant to the status of ETH as a security (or not). Finally, the Sponsor discusses the security status of
ETH with its securities lawyers. Through this process the Sponsor believes that it is applying the proper legal standards in making
a good faith determination that it believes ETH is not presently a security under federal law in light of the uncertainties inherent
in the Howey and Reves tests. In light of these uncertainties and the fact-based nature of the analysis, the Sponsor acknowledges
that ETH may currently be a security, based on the facts as they exist today, or may in the future be found by the SEC or a federal
court to be a security under the federal securities laws notwithstanding the Sponsor&#8217;s prior conclusion; and the Sponsor&#8217;s
prior conclusion, even if reasonable under the circumstances and made in good faith, would not preclude legal or regulatory action
based on the presence of a security.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Sponsor may dissolve the Trust if the Sponsor determines
ETH is a security under the federal securities laws, whether that determination is initially made by the Sponsor itself, or because
the SEC or a federal court subsequently makes that determination. Because the legal tests for determining whether a digital asset
is or is not a security often leave room for interpretation, for so long as the Sponsor believes there to be good faith grounds
to conclude that the Trust&#8217;s ETH is not a security, the Sponsor does not intend to dissolve the Trust on the basis that ETH
could at some future point be determined to be a security.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any enforcement action by the SEC or a state securities regulator
asserting that ETH is a security, or a court decision to that effect would be expected to have an immediate material adverse impact
on the trading value of ETH, as well as the Shares. This is because the business models behind most digital assets are incompatible
with regulations applying to transactions in securities. The New York Attorney General alleged in a lawsuit filed in March 2023
that ETH was a security under New York and federal securities law and that a cryptocurrency exchange that deals in ETH, unlawfully
failed to register as a securities dealer under New York state law. However, the New York Attorney General alleged in the alternative
in the same case that ETH was a commodity under both New York state and federal law. The defendant settled the New York Attorney
General&#8217;s lawsuit without a court adjudicating whether ETH was a security, a commodity, or neither for purposes of New York
state or federal law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If a digital asset is determined or asserted to be a security,
it is likely to become difficult or impossible for the digital asset to be traded, cleared or custodied in the United States through
the same channels used by non-security digital assets, which in addition to materially and adversely affecting the trading value
of the digital asset is likely to significantly impact its liquidity and market participants&#8217; ability to convert the digital
asset into U.S. dollars. For example, in 2020 the SEC filed a complaint against the issuer of XRP, Ripple Labs, Inc., and two of
its executives, alleging that they raised more than $1.3 billion through XRP sales that should have been registered under the federal
securities laws, but were not. In the years prior to the SEC&#8217;s action, XRP&#8217;s market capitalization at times reached
over $140 billion. However, in the weeks following the SEC&#8217;s complaint, XRP&#8217;s market capitalization fell to less than
$10 billion, which was less than half of its market capitalization in the days prior to the complaint. The SEC&#8217;s action against
XRP&#8217;s issuer underscores the continuing uncertainty around which digital assets are securities, and demonstrates that such
factors as how long a digital asset has been in existence, how widely held it is, how large its market capitalization is and that
it has actual usefulness in commercial transactions, ultimately may have no bearing on whether the SEC or a court will find it
to be a security. There is currently legislation that is being proposed and considered that addresses this regulatory uncertainly,
but it is unclear if the proposed legislation will be passed.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, if ETH is determined to be a security, the Trust
could be considered an unregistered &#8220;investment company&#8221; under SEC rules, which could necessitate the Trust&#8217;s
liquidation. In this case, the Trust and the Sponsor may be deemed to have participated in an illegal offering of securities and
there is no guarantee that the Sponsor will be able to register the Trust under the&#160;Investment Company Act&#160;at such time
or take such other actions as may be necessary to ensure the Trust&#8217;s activities comply with applicable law, which could force
the Sponsor to liquidate the Trust.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Moreover, whether or not the Sponsor or the Trust were subject
to additional regulatory requirements as a result of any SEC or federal court determination that its assets include securities,
the Sponsor may nevertheless decide to terminate the Trust, in order, if possible, to liquidate the Trust&#8217;s assets while
a liquid market still exists. For example, in response to the SEC&#8217;s action against the issuer of XRP, certain significant
market participants announced they would no longer support XRP and announced measures, including the delisting of XRP from major
digital asset trading platforms. The sponsor of the Grayscale XRP Trust subsequently dissolved this trust and liquidated its assets.
If the SEC or a federal court were to determine that ETH is a security, it is likely that the value of the Shares of the Trust
would decline significantly, and that the Trust itself may be terminated and, if practical, its assets liquidated.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Future Legal Or Regulatory Developments
May Negatively Affect The Value Of eth Or Require The Trust Or The Sponsor To Become Registered With The SEC Or CFTC, Which May
Cause The Trust To Liquidate.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Current and future legislation, SEC and
CFTC rulemaking, and other regulatory developments may impact the manner in which ETH are treated for classification and clearing
purposes. In particular, although the Interpretive Release classified ETH as a digital commodity and not a security under the federal
securities laws, ETH may nonetheless in the future be classified by the CFTC as a &#8220;commodity interest&#8221; under the CEA.
Alternatively, in the future a court or a future SEC administration could conclude that ETH is a &#8220;security&#8221; under U.S.
federal securities laws. The Sponsor and the Trust cannot be certain as to how future regulatory developments will impact the treatment
of ETH under the law. In the face of such developments, the required registrations and compliance steps may result in extraordinary,
nonrecurring expenses to the Trust. If the Sponsor decides to terminate the Trust in response to the changed regulatory circumstances,
the Trust may be dissolved or liquidated at a time that is disadvantageous to Shareholders.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The SEC has stated that certain digital
assets may be considered &#8220;securities&#8221; under the federal securities laws. The test for determining whether a particular
digital asset is a &#8220;security&#8221; is complex and the outcome is difficult to predict. If ETH is in the future determined
to be a &#8220;security&#8221; under federal or state securities laws by the SEC or any other agency, or in a proceeding in a court
of law or otherwise, it would likely have material adverse consequences for the value of ETH. For example, it may become more difficult
or impossible for ETH to be traded, cleared and custodied in the United States as compared to other digital assets that are not
considered to be securities, which could in turn negatively affect the liquidity and general acceptance of ETH and cause users
to migrate to other digital assets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the extent that ETH is determined to
be a security, the Trust and the Sponsor may also be subject to additional regulatory requirements, including under the 1940 Act,
and the Sponsor may be required to register as an investment adviser under the Investment Advisers Act of 1940, as amended (the
&#8220;Advisers Act&#8221;). If the Sponsor determines not to comply with such additional regulatory and</p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> registration requirements,
the Sponsor will terminate the Trust. Any such termination could result in the liquidation of the Trust&#8217;s ETH at a time that
is disadvantageous to Shareholders.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the extent that ETH is deemed to fall
within the definition of a &#8220;commodity interest&#8221; under the CEA, the Trust and the Sponsor may be subject to additional
regulation under the CEA and CFTC regulations. These additional requirements may result in extraordinary, recurring and/or nonrecurring
expenses of the Trust, thereby materially and adversely impacting the Shares. If the Sponsor and/or the Trust determines not to
comply with such additional regulatory and registration requirements, the Sponsor may terminate the Trust. Any such termination
could result in the liquidation of the Trust&#8217;s ETH at a time that is disadvantageous to Shareholders.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="x1_c116315a009"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Item 2. Unregistered Sales of Equity
Securities and Use of Proceeds.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">a) None.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">b) Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c) 1,150,000 Shares (46 Baskets) were redeemed during the quarter
ended March 31, 2026.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td><b>Period</b></td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center"><b>Total&#160;Number&#160;of&#160;Shares<br/>
    Redeemed</b></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="text-align: center"><b>Average Per<br/>
 Share</b></td>
    <td>&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td>&#160;</td>
    <td colspan="2">&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td colspan="2">&#160;</td>
    <td>&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="width: 66%">01/01/26 to 01/31/26	</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 15%; text-align: right">375,000</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%">$</td>
    <td style="width: 11%; text-align: right">44.67</td>
    <td style="width: 1%">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td>02/01/26 to 02/28/26	</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right">175,000</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: right">29.61</td>
    <td>&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td>03/01/26 to 03/31/26	</td>
    <td>&#160;</td>
    <td style="border-bottom: Black 1px solid">&#160;</td>
    <td style="border-bottom: Black 1px solid; text-align: right">600,000</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: Black 1px solid">&#160;</td>
    <td style="border-bottom: Black 1px solid; text-align: right">30.94</td>
    <td>&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td>Total	</td>
    <td>&#160;</td>
    <td style="border-bottom: Black 3px double">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: right">1,150,000</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: Black 3px double">$</td>
    <td style="border-bottom: Black 3px double; text-align: right">35.21</td>
    <td>&#160;</td></tr>
</table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><div><a id="x1_c116315a010"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Item 3. Defaults Upon Senior Securities.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">None.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="x1_c116315a011"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Item 4. Mine Safety Disclosures.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Not applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="x1_c116315a012"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Item 5. Other Information.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="ecd:NonRule10b51ArrTrmntdFlag" id="ixv-3172"><ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="ecd:NonRule10b51ArrAdoptedFlag" id="ixv-3173"><ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="ecd:Rule10b51ArrTrmntdFlag" id="ixv-3174"><ix:nonNumeric contextRef="c0" format="ixt:fixed-false" name="ecd:Rule10b51ArrAdoptedFlag" id="ixv-3175">Not</ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric> applicable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><div><a id="x1_c116315a013"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Item 6. Exhibits.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">See the Exhibit Index below, which is incorporated
by reference herein.</p><div>

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    </div><div style="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"><tr><td style="text-align: left; width: 100%"/></tr></table></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>EXHIBIT INDEX</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td style="width: 15%; padding-left: 5pt; text-decoration: underline"><b><span style="text-decoration:underline">Exhibit No.</span></b></td>
    <td style="width: 85%; text-decoration: underline; text-align: center"><b><span style="text-decoration:underline">Exhibit Description</span></b></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 5pt">&#160;</td>
    <td>&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">3.1</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041321001047/c101690_ex3-2.htm">Certificate
    of Trust incorporated by reference to Exhibit 3.2 of the Registration Statement on Form S-1 filed by the Registrant on May
    7, 2021</a></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">3.2</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324002024/c109048_ex3-2.htm">Certificate
    of Amendment incorporated by reference to Exhibit 3.2 of the Registration Statement on Form S-1 filed by the Registrant on
    July 8, 2024</a></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">4.1</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324002024/c109048_ex4-1.htm"><span style="color: #3333FF">Second
    Amended and Restated Declaration of Trust and Trust Agreement incorporated by reference to Exhibit 4.1 of the Registration
    Statement on Form S-1 filed by the Registrant on July 8, 2024</span></a><span style="color: #3333FF"><span style="text-decoration:underline"> </span></span></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">10.1</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/0001860788/000186078825000012/vaneckethereumetf-formof.htm">Form
    of Initial Authorized Participant Agreement incorporated by reference to Exhibit 10.1 of the report on Form 8-K filed by the
    Registrant on November 20, 2025</a></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">10.2</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324001811/c109048_ex10-3.htm">Marketing
    Agent Agreement incorporated by reference to Exhibit 10.3 of the Registration Statement on Form S-1 filed by the Registrant
    on May 23, 2024</a></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">10.3</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324001811/c109048_ex10-4.htm">Custodial
    Services Agreement incorporated by reference to Exhibit 10.4 of the Registration Statement on Form S-1 filed by the Registrant
    on May 23, 2024</a></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">10.4</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324001811/c109048_ex10-5.htm">Trust
    Administration and Accounting Agreement incorporated by reference to Exhibit 10.5 of the Registration Statement on Form S-1
    filed by the Registrant on May 23, 2024</a></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">10.5</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324001811/c109048_ex10-6.htm">Transfer
    Agency Agreement incorporated by reference to Exhibit 10.6 of the Registration Statement on Form S-1 filed by the Registrant
    on May 23, 2024</a></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">10.6</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324001811/c109048_ex10-7.htm">Index
    Sub-Licensing Agreement incorporated by reference to Exhibit 10.7 of the Registration Statement on Form S-1 filed by the Registrant
    on May</a> <span style="color: blue"><span style="text-decoration:underline">23, 2024</span></span></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">10.7</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324001811/c109048_ex10-8.htm">Cash
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    on May</a> <span style="color: blue"><span style="text-decoration:underline">23, 2024</span></span></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">10.8</td>
    <td><p style="margin: 0pt 0; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324001811/c109048_ex10-9.htm">Subscription
        Agreement incorporated by reference to Exhibit 10.9 of the Registration Statement on Form S-1 filed by the Registrant
        on May 23, 2024</a></p>
        <p style="margin: 0pt 0; text-align: justify">&#160;</p></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">10.9</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324001834/c109048_ex10-9.htm">Clearing
    Agreement incorporated by reference to Exhibit 10.9 of the Registration Statement on Form S-1 filed by the Registrant on May
    31, 2024</a></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">10.10</td>
    <td style="text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324001926/c109048_ex10-10.htm">Additional
    ETH Custodian Agreement incorporated by reference to Exhibit 10.10 of the Registration Statement on Form S-1 filed by the
    Registrant on June 21, 2024</a></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">31.1*</td>
    <td style="text-align: justify"><a href="c116315_ex31-1.htm" style="-sec-extract: exhibit">Certification by Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</a></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 5pt">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">* Filed herewith.</p><div>



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</div><div><a id="x1_c116315a014"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURES</b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of Section 13 or 15(d) of the Securities
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indicated thereunto duly authorized.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">VANECK DIGITAL ASSETS, LLC<br/>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: May 14, 2026</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* The Registrant is a trust and the persons are signing in their
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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>c116315_ex31-1.htm
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 31.1</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Certification of Principal Executive
Officer Pursuant to Rule 13a-14(a) and 15d- 14(a) Under the Securities Exchange Act of 1934, as Amended</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">I, Jan F. van Eck, certify that:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">1.</TD><TD>I have reviewed this report on Form 10-Q of VanEck Ethereum ETF (the &ldquo;Trust&rdquo;);</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">2.</TD><TD>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">3.</TD><TD>Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in
all material respects the financial condition, results of operations of the registrant as of, and for, the periods presented in
this report;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">4.</TD><TD>The registrant&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt">(a)</TD><TD>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt">(b)</TD><TD>Evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on
such evaluation; and</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt">(c)</TD><TD>Disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during
the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report)
that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial
reporting; and</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">5.</TD><TD>The registrant&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control
over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the board of directors (or persons performing
the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt">(a)</TD><TD>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial
information; and</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt">(b)</TD><TD>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s
internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Date: May 14, 2026</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt"><U>/s/ Jan F. van Eck&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt"><B>Jan F. van Eck *</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt"><B>President and Chief Executive Officer</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt"><B>(Principal Executive Officer)</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt">* The Registrant is a trust and the persons are
signing in their capacities as officers of VanEck Digital Assets, LLC, the Sponsor of the Registrant.</P>


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<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>c116315_ex31-2.htm
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 31.2</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Certification of Principal Financial
Officer Pursuant to Rule 13a-14(a) and 15d- 14(a) Under the Securities Exchange Act of 1934, as Amended</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">I, John J. Crimmins, certify that:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">1.</TD><TD>I have reviewed this report on Form 10-Q of VanEck Ethereum ETF (the &ldquo;Trust&rdquo;);</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">2.</TD><TD>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">3.</TD><TD>Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in
all material respects the financial condition, results of operations of the registrant as of, and for, the periods presented in
this report;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">4.</TD><TD>The registrant&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt">(a)</TD><TD>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt">(b)</TD><TD>Evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on
such evaluation; and</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt">(c)</TD><TD>Disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during
the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report)
that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial
reporting; and</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">5.</TD><TD>The registrant&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control
over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the board of directors (or persons performing
the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt">(a)</TD><TD>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial
information; and</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt">(b)</TD><TD>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s
internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Date: May 14, 2026</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt"><U>/s/ John J. Crimmins&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt"><B>John J. Crimmins *</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt"><B>Vice President, Chief Financial <FONT STYLE="letter-spacing: -0.1pt">Officer
and Treasurer</FONT></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt"><B>(Principal Financial Officer and Principal Accounting
Officer)</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 10pt">* The Registrant is a trust and the persons are
signing in their capacities as officers of VanEck Digital Assets, LLC, the Sponsor of the Registrant.</P>


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<TYPE>EX-32.1
<SEQUENCE>4
<FILENAME>c116315_ex32-1.htm
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 32.1</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Certification Pursuant to 18 U.S.C.
Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">In connection with the Quarterly Report of VanEck Ethereum
ETF (the &ldquo;Trust&rdquo;) on Form 10-Q for the quarter ended March 31, 2026 as filed with the Securities and Exchange Commission
on the date hereof (the &ldquo;Report&rdquo;), the undersigned, in the capacity and on the date indicated below, hereby certifies
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">1.</TD><TD>The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended;
and</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">2.</TD><TD>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
of the Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Date: May 14, 2026</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><U>/s/ Jan F. van Eck&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Jan F. van Eck*</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>President and Chief Executive Officer</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>(Principal Executive Officer)</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">* The registrant is a trust and the persons are signing in
their capacities as officers of VanEck Digital Assets, LLC, the Sponsor of the registrant.</P>


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<TYPE>EX-32.2
<SEQUENCE>5
<FILENAME>c116315_ex32-2.htm
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 32.2</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Certification Pursuant to 18 U.S.C.
Section 1350 As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">In connection with the Quarterly Report of VanEck Ethereum
ETF (the &ldquo;Trust&rdquo;) on Form 10-Q for the quarter ended March 31, 2026 as filed with the Securities and Exchange Commission
on the date hereof (the &ldquo;Report&rdquo;), the undersigned, in the capacity and on the date indicated below, hereby certifies
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">1.</TD><TD>The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended;
and</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt">2.</TD><TD>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
of the Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Date: May 14, 2026</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><U>/s/ John J. Crimmins&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>John J. Crimmins*</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Vice President, Chief Financial <FONT STYLE="letter-spacing: -0.1pt">Officer
and Treasurer</FONT></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>(Principal Financial Officer and Principal Accounting
Officer)</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">* The registrant is a trust and the persons are signing in
their capacities as officers of VanEck Digital Assets, LLC, the Sponsor of the registrant.</P>



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</HTML>
</TEXT>
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<TYPE>EX-101.SCH
<SEQUENCE>6
<FILENAME>ethv-20260331.xsd
<TEXT>
<XBRL>
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<!-- Generated by Broadridge Transform (tm) - http://www.broadridge.com -->
<!-- Created: Thu May 14 13:49:31 UTC 2026 -->
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      <link:roleType roleURI="http://www.vaneck.com/role/Organization" id="ethv_r_Organization">
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      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/SignificantAccountingPolicies" id="ethv_r_SignificantAccountingPolicies">
        <link:definition>008 - Disclosure - Significant Accounting Policies</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/TrustExpensesandOtherAgreements" id="ethv_r_TrustExpensesandOtherAgreements">
        <link:definition>009 - Disclosure - Trust Expenses and Other Agreements</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/RelatedParties" id="ethv_r_RelatedParties">
        <link:definition>010 - Disclosure - Related Parties</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/CapitalShareTransactions" id="ethv_r_CapitalShareTransactions">
        <link:definition>011 - Disclosure - Capital Share Transactions</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.vaneck.com/role/CommitmentsandContingentLiabilities" id="ethv_r_CommitmentsandContingentLiabilities">
        <link:definition>012 - Disclosure - Commitments and Contingent Liabilities</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.vaneck.com/role/ConcentrationRisk" id="ethv_r_ConcentrationRisk">
        <link:definition>013 - Disclosure - Concentration Risk</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>014 - Disclosure - Financial Highlights</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/SubsequentEventReview" id="ethv_r_SubsequentEventReview">
        <link:definition>015 - Disclosure - Subsequent Event Review</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/AccountingPoliciesByPolicy" id="ethv_r_AccountingPoliciesByPolicy">
        <link:definition>996000 - Disclosure - Accounting Policies, by Policy (Policies)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/SignificantAccountingPoliciesTables" id="ethv_r_SignificantAccountingPoliciesTables">
        <link:definition>996001 - Disclosure - Significant Accounting Policies (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/CapitalShareTransactionsTables" id="ethv_r_CapitalShareTransactionsTables">
        <link:definition>996002 - Disclosure - Capital Share Transactions (Tables)</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/FinancialHighlightsTables" id="ethv_r_FinancialHighlightsTables">
        <link:definition>996003 - Disclosure - Financial Highlights (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/SignificantAccountingPoliciesDetails" id="ethv_r_SignificantAccountingPoliciesDetails">
        <link:definition>996004 - Disclosure - Significant Accounting Policies (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/SummaryofFairvalueHierarchyTable" id="ethv_r_SummaryofFairvalueHierarchyTable">
        <link:definition>996005 - Disclosure - Significant Accounting Policies - Summary of Fair value Hierarchy (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/ChangesinQuantityofETHandFairValueTable" id="ethv_r_ChangesinQuantityofETHandFairValueTable">
        <link:definition>996006 - Disclosure - Significant Accounting Policies - Changes in Quantity of ETH and Fair Value (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/TrustExpensesandOtherAgreementsDetails" id="ethv_r_TrustExpensesandOtherAgreementsDetails">
        <link:definition>996007 - Disclosure - Trust Expenses and Other Agreements (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/RelatedPartiesDetails" id="ethv_r_RelatedPartiesDetails">
        <link:definition>996008 - Disclosure - Related Parties (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/CapitalShareTransactionsDetails" id="ethv_r_CapitalShareTransactionsDetails">
        <link:definition>996009 - Disclosure - Capital Share Transactions (Details)</link:definition>
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      </link:roleType>
      <link:roleType roleURI="http://www.vaneck.com/role/ShareandCapitalActivityTable" id="ethv_r_ShareandCapitalActivityTable">
        <link:definition>996010 - Disclosure - Capital Share Transactions - Share and Capital Activity (Details)</link:definition>
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      <link:roleType roleURI="http://www.vaneck.com/role/SummaryofFinancialHighlightsTable" id="ethv_r_SummaryofFinancialHighlightsTable">
        <link:definition>996011 - Disclosure - Financial Highlights - Summary of Financial Highlights (Details)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.vaneck.com/role/DocumentAndEntityInformation" id="DocumentAndEntityInformation">
        <link:definition>000 - Document - Document And Entity Information</link:definition>
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  <xs:import namespace="http://xbrl.sec.gov/ecd-sub/2026" schemaLocation="https://xbrl.sec.gov/ecd/2026/ecd-sub-2026.xsd"/>
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  <xs:element name="CryptoAssetNumberOfUnitsHeld" type="xbrli:decimalItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="ethv_CryptoAssetNumberOfUnitsHeld"/>
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<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>7
<FILENAME>ethv-20260331_cal.xml
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Broadridge Transform (tm) - http://www.broadridge.com -->
<!-- Created: Thu May 14 13:49:31 UTC 2026 -->
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<DOCUMENT>
<TYPE>EX-101.DEF
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<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>9
<FILENAME>ethv-20260331_lab.xml
<TEXT>
<XBRL>
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    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquityNoteAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityNoteAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteAbstract_lbl" xml:lang="en-US">Capital Share Transactions [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteAbstract" xlink:to="us-gaap_StockholdersEquityNoteAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_SharesOutstanding_lbl" xml:lang="en-US">Beginning of period (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharesOutstanding_lbl0" xml:lang="en-US">End of period (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharesOutstanding_lbl1" xml:lang="en-US">Shares outstanding (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Beginning of period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_lbl0" xml:lang="en-US">End of period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xml:lang="en-US">Commitments and Contingent Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RisksAndUncertaintiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RisksAndUncertaintiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RisksAndUncertaintiesAbstract_lbl" xml:lang="en-US">Concentration Risk [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RisksAndUncertaintiesAbstract" xlink:to="us-gaap_RisksAndUncertaintiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyFinancialHighlightsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyFinancialHighlightsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentCompanyFinancialHighlightsAbstract_lbl" xml:lang="en-US">Financial Highlights [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyFinancialHighlightsAbstract" xlink:to="us-gaap_InvestmentCompanyFinancialHighlightsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetAssetValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetAssetValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_NetAssetValuePerShare_lbl" xml:lang="en-US">Net asset value per share, beginning of period (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetAssetValuePerShare" xlink:to="us-gaap_NetAssetValuePerShare_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_NetAssetValuePerShare_lbl0" xml:lang="en-US">Net asset value per share, end of period (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetAssetValuePerShare" xlink:to="us-gaap_NetAssetValuePerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetAssetValuePerShare_lbl1" xml:lang="en-US">Net Asset Value per Share (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetAssetValuePerShare" xlink:to="us-gaap_NetAssetValuePerShare_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsequentEventsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsAbstract_lbl" xml:lang="en-US">Subsequent Event Review [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsAbstract" xlink:to="us-gaap_SubsequentEventsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentType"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentQuarterlyReport" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentQuarterlyReport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US">Document Quarterly Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentPeriodEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentFiscalYearFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentTransitionReport"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFileNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityRegistrantName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityIncorporationStateCountryCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityTaxIdentificationNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressAddressLine2" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressCityOrTown"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressStateOrProvince"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressPostalZipCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CityAreaCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LocalPhoneNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_Security12bTitle"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_TradingSymbol"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_SecurityExchangeName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCurrentReportingStatus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCurrentReportingStatus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityInteractiveDataCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFilerCategory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntitySmallBusiness" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntitySmallBusiness"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US">Entity Small Business</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityEmergingGrowthCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityExTransitionPeriod" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityExTransitionPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityExTransitionPeriod_lbl" xml:lang="en-US">Entity Ex Transition Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityShellCompany" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityShellCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCentralIndexKey"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharesIssued_lbl" xml:lang="en-US">Shares issued (in Shares)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockNoParValue_lbl" xml:lang="en-US">Shares par value (in Dollars per share)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesAuthorizedUnlimited_lbl" xml:lang="en-US">Shares authorized, unlimited</label>
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    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursementAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursementAbstract"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_SponsorFees" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SponsorFees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SponsorFees_lbl" xml:lang="en-US">Sponsor fee, related party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SponsorFees" xlink:to="us-gaap_SponsorFees_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SponsorFees_lbl0" xml:lang="en-US">Sponsor fee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SponsorFees" xlink:to="us-gaap_SponsorFees_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperatingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperatingAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperatingAbstract_lbl" xml:lang="en-US">Net realized loss and net change in unrealized appreciation (depreciation)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperatingAbstract" xlink:to="us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperatingAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_NetRealizedGainLossOnEtherSoldForRedemptionOfShares" xlink:href="ethv-20260331.xsd#ethv_NetRealizedGainLossOnEtherSoldForRedemptionOfShares"/>
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    <loc xlink:type="locator" xlink:label="ethv_NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty" xlink:href="ethv-20260331.xsd#ethv_NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating_lbl" xml:lang="en-US">Net change in unrealized appreciation (depreciation) from investment in ether</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating" xlink:to="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating_lbl0" xml:lang="en-US">Net change in unrealized appreciation (depreciation) from investments in ether</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating" xlink:to="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating_lbl1" xml:lang="en-US">Net change in unrealized appreciation (depreciation) from investment in ETH</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating" xlink:to="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating_lbl2" xml:lang="en-US">Net change in unrealized appreciation (depreciation) from investment in ETH, Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating" xlink:to="us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating_lbl2"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperating" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperating"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperating_lbl" xml:lang="en-US">Net realized loss and net change in unrealized appreciation (depreciation)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperating" xlink:to="us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperating_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetIncomeLossAttributableToReportingEntityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAttributableToReportingEntityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLossAttributableToReportingEntityAbstract_lbl" xml:lang="en-US">Net decrease from operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAttributableToReportingEntityAbstract" xlink:to="us-gaap_NetIncomeLossAttributableToReportingEntityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyCapitalShareTransactionsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyCapitalShareTransactionsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyCapitalShareTransactionsAbstract_lbl" xml:lang="en-US">Capital Share transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyCapitalShareTransactionsAbstract" xlink:to="us-gaap_InvestmentCompanyCapitalShareTransactionsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US">Contributions for shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl0" xml:lang="en-US">Shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl0"/>
    <loc xlink:type="locator" xlink:label="ethv_NetAssetsAbstract" xlink:href="ethv-20260331.xsd#ethv_NetAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_NetAssetsAbstract_lbl" xml:lang="en-US">Net assets:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_NetAssetsAbstract" xlink:to="ethv_NetAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CryptoAssetCost" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CryptoAssetCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CryptoAssetCost_lbl" xml:lang="en-US">Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetCost" xlink:to="us-gaap_CryptoAssetCost_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentOwnedPercentOfNetAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentOwnedPercentOfNetAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentOwnedPercentOfNetAssets_lbl" xml:lang="en-US">Total Investment in ether, % of Net Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentOwnedPercentOfNetAssets" xlink:to="us-gaap_InvestmentOwnedPercentOfNetAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilities_lbl" xml:lang="en-US">Liabilities in Excess of Other Assets, Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilities" xlink:to="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets_lbl" xml:lang="en-US">Liabilities in Excess of Other Assets, % of Net Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets" xlink:to="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_NetAssetsPercentageOfNetAssetsValue" xlink:href="ethv-20260331.xsd#ethv_NetAssetsPercentageOfNetAssetsValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_NetAssetsPercentageOfNetAssetsValue_lbl" xml:lang="en-US">% of Net Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_NetAssetsPercentageOfNetAssetsValue" xlink:to="ethv_NetAssetsPercentageOfNetAssetsValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyExpenseOffsetArrangement" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyExpenseOffsetArrangement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InvestmentCompanyExpenseOffsetArrangement_lbl" xml:lang="en-US">Sponsor fee waiver, related party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyExpenseOffsetArrangement" xlink:to="us-gaap_InvestmentCompanyExpenseOffsetArrangement_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xml:lang="en-US">Withdrawals for shares redeemed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:to="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NatureOfOperations" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NatureOfOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NatureOfOperations_lbl" xml:lang="en-US">Organization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NatureOfOperations" xlink:to="us-gaap_NatureOfOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Significant Accounting Policies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl" xml:lang="en-US">Summary of Fair value Hierarchy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:to="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock" xlink:href="ethv-20260331.xsd#ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock_lbl" xml:lang="en-US">Changes in Quantity of ETH and Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock" xlink:to="ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_CryptoAssetNumberOfUnitsPurchased" xlink:href="ethv-20260331.xsd#ethv_CryptoAssetNumberOfUnitsPurchased"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_CryptoAssetNumberOfUnitsPurchased_lbl" xml:lang="en-US">ETH purchased (in Ethereum)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_CryptoAssetNumberOfUnitsPurchased" xlink:to="ethv_CryptoAssetNumberOfUnitsPurchased_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CryptoAssetPurchase" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CryptoAssetPurchase"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CryptoAssetPurchase_lbl" xml:lang="en-US">ETH purchased, Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetPurchase" xlink:to="us-gaap_CryptoAssetPurchase_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_CryptoAssetNumberOfUnitsSold" xlink:href="ethv-20260331.xsd#ethv_CryptoAssetNumberOfUnitsSold"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_CryptoAssetNumberOfUnitsSold_lbl" xml:lang="en-US">ETH sold (in Ethereum)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_CryptoAssetNumberOfUnitsSold" xlink:to="ethv_CryptoAssetNumberOfUnitsSold_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_TrustExpensesandOtherAgreementsTextBlock" xlink:href="ethv-20260331.xsd#ethv_TrustExpensesandOtherAgreementsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_TrustExpensesandOtherAgreementsTextBlock_lbl" xml:lang="en-US">Trust Expenses and Other Agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_TrustExpensesandOtherAgreementsTextBlock" xlink:to="ethv_TrustExpensesandOtherAgreementsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US">Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">Capital Share Transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfStockholdersEquityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfStockholdersEquityTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfStockholdersEquityTableTextBlock_lbl" xml:lang="en-US">Share and Capital Activity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfStockholdersEquityTableTextBlock" xlink:to="us-gaap_ScheduleOfStockholdersEquityTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US">Shares issued (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US">Commitments and Contingent Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xml:lang="en-US">Concentration Risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:to="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyFinancialHighlightsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyFinancialHighlightsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyFinancialHighlightsTextBlock_lbl" xml:lang="en-US">Financial Highlights</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyFinancialHighlightsTextBlock" xlink:to="us-gaap_InvestmentCompanyFinancialHighlightsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyFinancialHighlightsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyFinancialHighlightsTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyFinancialHighlightsTableTextBlock_lbl" xml:lang="en-US">Summary of Financial Highlights</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyFinancialHighlightsTableTextBlock" xlink:to="us-gaap_InvestmentCompanyFinancialHighlightsTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShareAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShareAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShareAbstract_lbl" xml:lang="en-US">From investment operations:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShareAbstract" xlink:to="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShareAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare_lbl" xml:lang="en-US">Net investment loss (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare" xlink:to="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments" xlink:href="ethv-20260331.xsd#ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments_lbl" xml:lang="en-US">Net realized loss and change in unrealized appreciation (depreciation) from investments in ether (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments" xlink:to="ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease_lbl" xml:lang="en-US">Net decrease resulting from operations (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease" xlink:to="us-gaap_InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyTotalReturn" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyTotalReturn"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyTotalReturn_lbl" xml:lang="en-US">Total return</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyTotalReturn" xlink:to="us-gaap_InvestmentCompanyTotalReturn_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyFinancialRatiosAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyFinancialRatiosAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyFinancialRatiosAbstract_lbl" xml:lang="en-US">Ratios to average net assets(d)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyFinancialRatiosAbstract" xlink:to="us-gaap_InvestmentCompanyFinancialRatiosAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyExpenseRatioExcludingIncentiveFee" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyExpenseRatioExcludingIncentiveFee"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyExpenseRatioExcludingIncentiveFee_lbl" xml:lang="en-US">Expenses before fee waiver</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyExpenseRatioExcludingIncentiveFee" xlink:to="us-gaap_InvestmentCompanyExpenseRatioExcludingIncentiveFee_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyExpenseRatioIncludingIncentiveFee" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyExpenseRatioIncludingIncentiveFee"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyExpenseRatioIncludingIncentiveFee_lbl" xml:lang="en-US">Expenses after fee waiver</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyExpenseRatioIncludingIncentiveFee" xlink:to="us-gaap_InvestmentCompanyExpenseRatioIncludingIncentiveFee_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossRatio" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyInvestmentIncomeLossRatio"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossRatio_lbl" xml:lang="en-US">Net investment loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyInvestmentIncomeLossRatio" xlink:to="us-gaap_InvestmentCompanyInvestmentIncomeLossRatio_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsequentEventsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US">Subsequent Event Review</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CryptoAssetSale" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CryptoAssetSale"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_CryptoAssetSale_lbl" xml:lang="en-US">ETH sold, Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetSale" xlink:to="us-gaap_CryptoAssetSale_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRedeemedOrCalledDuringPeriodShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockRedeemedOrCalledDuringPeriodShares_lbl" xml:lang="en-US">Shares redeemed (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:to="us-gaap_StockRedeemedOrCalledDuringPeriodShares_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRedeemedOrCalledDuringPeriodValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockRedeemedOrCalledDuringPeriodValue_lbl" xml:lang="en-US">Shares redeemed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:to="us-gaap_StockRedeemedOrCalledDuringPeriodValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueInputsLevel1Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US">Level 1 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel1Member" xlink:to="us-gaap_FairValueInputsLevel1Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueInputsLevel2Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel2Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US">Level 2 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel2Member" xlink:to="us-gaap_FairValueInputsLevel2Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueInputsLevel3Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel3Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xml:lang="en-US">Level 3 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel3Member" xlink:to="us-gaap_FairValueInputsLevel3Member_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_EthereumMember" xlink:href="ethv-20260331.xsd#ethv_EthereumMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_EthereumMember_lbl" xml:lang="en-US">Ethereum [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_EthereumMember" xlink:to="ethv_EthereumMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_FairValueMember" xlink:href="ethv-20260331.xsd#ethv_FairValueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_FairValueMember_lbl" xml:lang="en-US">Fair Value [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_FairValueMember" xlink:to="ethv_FairValueMember_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_OwnershipAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_OwnershipAxis_lbl" xml:lang="en-US">Ownership [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_OwnershipAxis" xlink:to="srt_OwnershipAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeAxis_lbl" xml:lang="en-US">Statistical Measurement [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeAxis" xlink:to="srt_RangeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsidiarySaleOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsidiarySaleOfStockAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsidiarySaleOfStockAxis_lbl" xml:lang="en-US">Sale of Stock [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiarySaleOfStockAxis" xlink:to="us-gaap_SubsidiarySaleOfStockAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Cash" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Cash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Cash_lbl" xml:lang="en-US">Cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Cash" xlink:to="us-gaap_Cash_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NumberOfOperatingSegments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfOperatingSegments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NumberOfOperatingSegments_lbl" xml:lang="en-US">Number of operating segments (in Segment)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfOperatingSegments" xlink:to="us-gaap_NumberOfOperatingSegments_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_SponsorFeeAtMonthlyRateOfAverageDailyNetAssets" xlink:href="ethv-20260331.xsd#ethv_SponsorFeeAtMonthlyRateOfAverageDailyNetAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_SponsorFeeAtMonthlyRateOfAverageDailyNetAssets_lbl" xml:lang="en-US">Sponsor fees at monthly rate of average daily net assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_SponsorFeeAtMonthlyRateOfAverageDailyNetAssets" xlink:to="ethv_SponsorFeeAtMonthlyRateOfAverageDailyNetAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl" xml:lang="en-US">Minority interest percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:to="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_lbl" xml:lang="en-US">Trust shares authorized (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:to="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xml:lang="en-US">Basis of Preparation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_UseOfEstimates" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UseOfEstimates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US">Use of Estimates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US">Cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementPolicyPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xml:lang="en-US">Investment Valuation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:to="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_EthereumPolicyTextBlock" xlink:href="ethv-20260331.xsd#ethv_EthereumPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_EthereumPolicyTextBlock_lbl" xml:lang="en-US">Ether</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_EthereumPolicyTextBlock" xlink:to="ethv_EthereumPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerSharePolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US">Calculation of Net Asset Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US">Federal Income Taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentReportingPolicyPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xml:lang="en-US">Segment Reporting</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:to="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_InterimFinancialStatementsPolicyTextBlock" xlink:href="ethv-20260331.xsd#ethv_InterimFinancialStatementsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_InterimFinancialStatementsPolicyTextBlock_lbl" xml:lang="en-US">Interim Financial Statements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_InterimFinancialStatementsPolicyTextBlock" xlink:to="ethv_InterimFinancialStatementsPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_VanEckSecuritiesCorporationMember" xlink:href="ethv-20260331.xsd#ethv_VanEckSecuritiesCorporationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_VanEckSecuritiesCorporationMember_lbl" xml:lang="en-US">VanEck Securities Corporation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_VanEckSecuritiesCorporationMember" xlink:to="ethv_VanEckSecuritiesCorporationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_MaximumMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MaximumMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MaximumMember_lbl" xml:lang="en-US">Maximum [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MaximumMember" xlink:to="srt_MaximumMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_SecondaryMarketMember" xlink:href="ethv-20260331.xsd#ethv_SecondaryMarketMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ethv_SecondaryMarketMember_lbl" xml:lang="en-US">Secondary Market [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_SecondaryMarketMember" xlink:to="ethv_SecondaryMarketMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfInvestmentsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfInvestmentsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfInvestmentsTable_lbl" xml:lang="en-US">Schedule of Investments [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInvestmentsTable" xlink:to="us-gaap_ScheduleOfInvestmentsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfInvestmentsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfInvestmentsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfInvestmentsLineItems_lbl" xml:lang="en-US">Schedules of Investment [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInvestmentsLineItems" xlink:to="us-gaap_ScheduleOfInvestmentsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xml:lang="en-US">Fair Value Hierarchy and NAV [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfFairValueOffBalanceSheetRisksTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfFairValueOffBalanceSheetRisksTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFairValueOffBalanceSheetRisksTable_lbl" xml:lang="en-US">Fair Value, off-Balance-Sheet Risk [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFairValueOffBalanceSheetRisksTable" xlink:to="us-gaap_ScheduleOfFairValueOffBalanceSheetRisksTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueOffBalanceSheetRisksDisclosureInformationLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueOffBalanceSheetRisksDisclosureInformationLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueOffBalanceSheetRisksDisclosureInformationLineItems_lbl" xml:lang="en-US">Significant Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOffBalanceSheetRisksDisclosureInformationLineItems" xlink:to="us-gaap_FairValueOffBalanceSheetRisksDisclosureInformationLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentTypeCategorizationMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentTypeCategorizationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentTypeCategorizationMember_lbl" xml:lang="en-US">Investments [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeCategorizationMember" xlink:to="us-gaap_InvestmentTypeCategorizationMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsTable" xlink:href="ethv-20260331.xsd#ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsTable_lbl" xml:lang="en-US">Significant Accounting Policies - Changes in Quantity of ETH and Fair Value (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsTable" xlink:to="ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsLineItems" xlink:href="ethv-20260331.xsd#ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsLineItems_lbl" xml:lang="en-US">Significant Accounting Policies - Changes in Quantity of ETH and Fair Value (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsLineItems" xlink:to="ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfSubsidiaryOrEquityMethodInvesteeTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfSubsidiaryOrEquityMethodInvesteeTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSubsidiaryOrEquityMethodInvesteeTable_lbl" xml:lang="en-US">Subsidiary or Equity Method Investee, Sale of Stock [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSubsidiaryOrEquityMethodInvesteeTable" xlink:to="us-gaap_ScheduleOfSubsidiaryOrEquityMethodInvesteeTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems_lbl" xml:lang="en-US">Capital Share Transactions [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems" xlink:to="us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyFinancialHighlightsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyFinancialHighlightsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentCompanyFinancialHighlightsTable_lbl" xml:lang="en-US">Investment Company, Financial Highlights [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyFinancialHighlightsTable" xlink:to="us-gaap_InvestmentCompanyFinancialHighlightsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentCompanyFinancialHighlightsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentCompanyFinancialHighlightsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentCompanyFinancialHighlightsLineItems_lbl" xml:lang="en-US">Financial Highlights [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyFinancialHighlightsLineItems" xlink:to="us-gaap_InvestmentCompanyFinancialHighlightsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_OwnershipDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_OwnershipDomain_lbl" xml:lang="en-US">Ownership [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_OwnershipDomain" xlink:to="srt_OwnershipDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_RangeMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeMember_lbl" xml:lang="en-US">Statistical Measurement [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeMember" xlink:to="srt_RangeMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US">Related Party Transaction [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xml:lang="en-US">Related Parties [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionLineItems" xlink:to="us-gaap_RelatedPartyTransactionLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SaleOfStockNameOfTransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SaleOfStockNameOfTransactionDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleOfStockNameOfTransactionDomain_lbl" xml:lang="en-US">Sale of Stock [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockNameOfTransactionDomain" xlink:to="us-gaap_SaleOfStockNameOfTransactionDomain_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_AccruedSponsorFee_lbl0" xml:lang="en-US">Accrued sponsor fee.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_AccruedSponsorFee" xlink:to="ethv_AccruedSponsorFee_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock_lbl0" xml:lang="en-US">Tabular disclosure of changes in quantity of ether and respective fair value.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock" xlink:to="ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_CryptoAssetNumberOfUnitsHeld_lbl2" xml:lang="en-US">Number of restricted and unrestricted crypto asset units held. Excludes crypto asset units held for platform user.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_CryptoAssetNumberOfUnitsHeld" xlink:to="ethv_CryptoAssetNumberOfUnitsHeld_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_CryptoAssetNumberOfUnitsPurchased_lbl0" xml:lang="en-US">Number of restricted and unrestricted crypto asset units purchased. Excludes crypto asset units held for platform user.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_CryptoAssetNumberOfUnitsPurchased" xlink:to="ethv_CryptoAssetNumberOfUnitsPurchased_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_CryptoAssetNumberOfUnitsSold_lbl0" xml:lang="en-US">Number of restricted and unrestricted crypto asset units sold. Excludes crypto asset units held for platform user.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_CryptoAssetNumberOfUnitsSold" xlink:to="ethv_CryptoAssetNumberOfUnitsSold_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_EthereumPolicyTextBlock_lbl0" xml:lang="en-US">Disclosure of accounting policy for ethereum.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_EthereumPolicyTextBlock" xlink:to="ethv_EthereumPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_InterimFinancialStatementsPolicyTextBlock_lbl0" xml:lang="en-US">Disclosure of accounting policy for interim financial statements.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_InterimFinancialStatementsPolicyTextBlock" xlink:to="ethv_InterimFinancialStatementsPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_NetAssetsPercentageOfNetAssetsValue_lbl0" xml:lang="en-US">Percentage of investment owned to net assets after deducting liabilities.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_NetAssetsPercentageOfNetAssetsValue" xlink:to="ethv_NetAssetsPercentageOfNetAssetsValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments_lbl0" xml:lang="en-US">Net realized gain (loss) and change in unrealized appreciation (depreciation) from investments in either.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments" xlink:to="ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty_lbl0" xml:lang="en-US">Net realized gain (loss) on ether distributed for sponsor fee, related party.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty" xlink:to="ethv_NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_NetRealizedGainLossOnEtherSoldForRedemptionOfShares_lbl0" xml:lang="en-US">Net realized gain (loss) on ether sold for redemption of shares.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_NetRealizedGainLossOnEtherSoldForRedemptionOfShares" xlink:to="ethv_NetRealizedGainLossOnEtherSoldForRedemptionOfShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_SponsorFeeAtMonthlyRateOfAverageDailyNetAssets_lbl0" xml:lang="en-US">Percentage amount paid to the sponsor for management of the day-to-day business functions of the LLC or LP including the fee rate, basis of calculation, relevant accounting period, whether the fee is paid to an entity other than the managing average daily net assets, or whether the fee is waived.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_SponsorFeeAtMonthlyRateOfAverageDailyNetAssets" xlink:to="ethv_SponsorFeeAtMonthlyRateOfAverageDailyNetAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_TrustExpensesandOtherAgreementsTextBlock_lbl0" xml:lang="en-US">Disclosure of trust expenses and other agreements.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_TrustExpensesandOtherAgreementsTextBlock" xlink:to="ethv_TrustExpensesandOtherAgreementsTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_SecondaryMarketMember_lbl0" xml:lang="en-US">Secondary market sale of stock by a private company to the public.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_SecondaryMarketMember" xlink:to="ethv_SecondaryMarketMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ethv_VanEckSecuritiesCorporationMember_lbl0" xml:lang="en-US">Name of entity.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_VanEckSecuritiesCorporationMember" xlink:to="ethv_VanEckSecuritiesCorporationMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl0" xml:lang="en-US">City Area Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfOperatingSegments_lbl0" xml:lang="en-US">Number of Operating Segments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfOperatingSegments" xlink:to="us-gaap_NumberOfOperatingSegments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UseOfEstimates_lbl0" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl0" xml:lang="en-US">Entity Address, City or Town</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentCompanyExpenseRatioExcludingIncentiveFee_lbl0" xml:lang="en-US">Investment Company, Expense Ratio, after Fee Waiver and before Incentive Fee Deduction</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyExpenseRatioExcludingIncentiveFee" xlink:to="us-gaap_InvestmentCompanyExpenseRatioExcludingIncentiveFee_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl0" xml:lang="en-US">Entity Small Business</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsAbstract_lbl0" xml:lang="en-US">Assets [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl0" xml:lang="en-US">Segment Reporting, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:to="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShareAbstract_lbl0" xml:lang="en-US">Investment Company, Investment Income (Loss) from Operations, Per Share [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShareAbstract" xlink:to="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShareAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl0" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel3Member" xlink:to="us-gaap_FairValueInputsLevel3Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossRatio_lbl0" xml:lang="en-US">Investment Company, Investment Income (Loss) Ratio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyInvestmentIncomeLossRatio" xlink:to="us-gaap_InvestmentCompanyInvestmentIncomeLossRatio_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease_lbl0" xml:lang="en-US">Investment Company, Net Asset Value, Per Share, Period Increase (Decrease)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease" xlink:to="us-gaap_InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl0" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:to="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl0" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments_lbl1" xml:lang="en-US">Net Realized Gain Loss And Change In Unrealized Appreciation Depreciation From Investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments" xlink:to="ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty_lbl1" xml:lang="en-US">Net Realized Gain Loss On Ether Distributed For Sponsor Fee Related Party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty" xlink:to="ethv_NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CryptoAssetFairValue_lbl3" xml:lang="en-US">Crypto Asset, Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetFairValue" xlink:to="us-gaap_CryptoAssetFairValue_lbl3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_InterimFinancialStatementsPolicyTextBlock_lbl1" xml:lang="en-US">Interim Financial Statements Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_InterimFinancialStatementsPolicyTextBlock" xlink:to="ethv_InterimFinancialStatementsPolicyTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl0" xml:lang="en-US">Local Phone Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl0" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl1" xml:lang="en-US">Stock Issued During Period, Value, New Issues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl0" xml:lang="en-US">Fair Value Measurement, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:to="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl0" xml:lang="en-US">Concentration Risk Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:to="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl0" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel1Member" xlink:to="us-gaap_FairValueInputsLevel1Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilities_lbl0" xml:lang="en-US">Noninvestment Assets Less Noninvestment Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilities" xlink:to="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl0" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl0" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentCompanyIncreaseDecreaseFromShareTransaction_lbl0" xml:lang="en-US">Investment Company, Capital Share Transaction, Increase (Decrease)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyIncreaseDecreaseFromShareTransaction" xlink:to="us-gaap_InvestmentCompanyIncreaseDecreaseFromShareTransaction_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_EthereumPolicyTextBlock_lbl1" xml:lang="en-US">Ethereum Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_EthereumPolicyTextBlock" xlink:to="ethv_EthereumPolicyTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_TrustExpensesandOtherAgreementsTextBlock_lbl1" xml:lang="en-US">Trust Expensesand Other Agreements Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_TrustExpensesandOtherAgreementsTextBlock" xlink:to="ethv_TrustExpensesandOtherAgreementsTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityExTransitionPeriod_lbl0" xml:lang="en-US">Entity Ex Transition Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl0" xml:lang="en-US">Title of 12(b) Security</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NatureOfOperations_lbl0" xml:lang="en-US">Nature of Operations [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NatureOfOperations" xlink:to="us-gaap_NatureOfOperations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets_lbl0" xml:lang="en-US">Noninvestment Asset Less Noninvestment Liability, Percent of Net Asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets" xlink:to="us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentCompanyExpenseRatioIncludingIncentiveFee_lbl0" xml:lang="en-US">Investment Company, Expense Ratio, after Fee Waiver and Incentive Fee Deduction</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyExpenseRatioIncludingIncentiveFee" xlink:to="us-gaap_InvestmentCompanyExpenseRatioIncludingIncentiveFee_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CryptoAssetCost_lbl0" xml:lang="en-US">Crypto Asset, Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetCost" xlink:to="us-gaap_CryptoAssetCost_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl0" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfInvestmentsLineItems_lbl0" xml:lang="en-US">Schedule of Investments [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInvestmentsLineItems" xlink:to="us-gaap_ScheduleOfInvestmentsLineItems_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl0" xml:lang="en-US">Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl0" xml:lang="en-US">Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl1" xml:lang="en-US">Equity, Attributable to Parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetAssetValuePerShare_lbl2" xml:lang="en-US">Net Asset Value Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetAssetValuePerShare" xlink:to="us-gaap_NetAssetValuePerShare_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAttributableToReportingEntityAbstract_lbl0" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAttributableToReportingEntityAbstract" xlink:to="us-gaap_NetIncomeLossAttributableToReportingEntityAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl0" xml:lang="en-US">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl0" xml:lang="en-US">Subsequent Events [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl0" xml:lang="en-US">Entity Address, State or Province</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl0" xml:lang="en-US">Entity Shell Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl0" xml:lang="en-US">Document Fiscal Year Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl0" xml:lang="en-US">Security Exchange Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_CryptoAssetNumberOfUnitsPurchased_lbl1" xml:lang="en-US">Crypto Asset Number Of Units Purchased</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_CryptoAssetNumberOfUnitsPurchased" xlink:to="ethv_CryptoAssetNumberOfUnitsPurchased_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_CryptoAssetNumberOfUnitsSold_lbl1" xml:lang="en-US">Crypto Asset Number Of Units Sold</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_CryptoAssetNumberOfUnitsSold" xlink:to="ethv_CryptoAssetNumberOfUnitsSold_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl0" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock_lbl1" xml:lang="en-US">Changes In Quantity Of Ether And Respective Fair Value Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock" xlink:to="ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl0" xml:lang="en-US">Entity Current Reporting Status</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl0" xml:lang="en-US">Entity Emerging Growth Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl0" xml:lang="en-US">Entity Address, Postal Zip Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperatingAbstract_lbl0" xml:lang="en-US">Crypto Asset, Realized and Unrealized Gain (Loss), Operating and Nonoperating [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperatingAbstract" xlink:to="us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperatingAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_FairValueMember_lbl0" xml:lang="en-US">Fair Value Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_FairValueMember" xlink:to="ethv_FairValueMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating_lbl3" xml:lang="en-US">Crypto Asset, Realized Gain (Loss), Operating and Nonoperating</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating" xlink:to="us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating_lbl3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl0" xml:lang="en-US">Document Fiscal Period Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharesIssued_lbl0" xml:lang="en-US">Shares, Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssued" xlink:to="us-gaap_SharesIssued_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRedeemedOrCalledDuringPeriodShares_lbl0" xml:lang="en-US">Stock Redeemed or Called During Period, Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:to="us-gaap_StockRedeemedOrCalledDuringPeriodShares_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueOffBalanceSheetRisksDisclosureInformationLineItems_lbl0" xml:lang="en-US">Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOffBalanceSheetRisksDisclosureInformationLineItems" xlink:to="us-gaap_FairValueOffBalanceSheetRisksDisclosureInformationLineItems_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetInvestmentIncome_lbl1" xml:lang="en-US">Net Investment Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetInvestmentIncome" xlink:to="us-gaap_NetInvestmentIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_EthereumMember_lbl0" xml:lang="en-US">Ethereum Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_EthereumMember" xlink:to="ethv_EthereumMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss_lbl0" xml:lang="en-US">Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss" xlink:to="us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReceivableInvestmentSale_lbl0" xml:lang="en-US">Receivable, Investment, Sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivableInvestmentSale" xlink:to="us-gaap_ReceivableInvestmentSale_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl0" xml:lang="en-US">Document Transition Report</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_NetAssetsPercentageOfNetAssetsValue_lbl1" xml:lang="en-US">Net Assets Percentage Of Net Assets Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_NetAssetsPercentageOfNetAssetsValue" xlink:to="ethv_NetAssetsPercentageOfNetAssetsValue_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare_lbl0" xml:lang="en-US">Investment Company, Investment Income (Loss) from Operations, Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare" xlink:to="us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_NetRealizedGainLossOnEtherSoldForRedemptionOfShares_lbl1" xml:lang="en-US">Net Realized Gain Loss On Ether Sold For Redemption Of Shares</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems_lbl0" xml:lang="en-US">Subsidiary or Equity Method Investee [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems" xlink:to="us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl0" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel2Member" xlink:to="us-gaap_FairValueInputsLevel2Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsNet_lbl3" xml:lang="en-US">Net Assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockNoParValue_lbl0" xml:lang="en-US">Common Stock, No Par Value</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursementAbstract_lbl0" xml:lang="en-US">Investment Company, Expense, after Reduction of Fee Waiver and Reimbursement [Abstract]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement" xlink:to="us-gaap_InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl0" xml:lang="en-US">Equity [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl0" xml:lang="en-US">Document Quarterly Report</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_lbl0" xml:lang="en-US">Sale of Stock, Number of Shares Issued in Transaction</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:to="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_VanEckSecuritiesCorporationMember_lbl1" xml:lang="en-US">Van Eck Securities Corporation Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_VanEckSecuritiesCorporationMember" xlink:to="ethv_VanEckSecuritiesCorporationMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ethv_SecondaryMarketMember_lbl1" xml:lang="en-US">Secondary Market Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ethv_SecondaryMarketMember" xlink:to="ethv_SecondaryMarketMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Cash_lbl0" xml:lang="en-US">Cash</label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>10
<FILENAME>ethv-20260331_pre.xml
<TEXT>
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<!-- Created: Thu May 14 13:49:31 UTC 2026 -->
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information - shares<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th"><div>Mar. 31, 2026</div></th>
<th class="th"><div>Apr. 30, 2026</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information Line Items</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001860788<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-Q<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentQuarterlyReport', window );">Document Quarterly Report</a></td>
<td class="text">true<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Mar. 31,  2026<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2026<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentTransitionReport', window );">Document Transition Report</a></td>
<td class="text">false<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-42141<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">VanEck Ethereum ETF<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">86-6752793<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">666 Third Avenue<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">9th Floor<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">New York<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10017<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">212<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">293-2000<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Shares<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">ETHV<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">CboeBZX<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInteractiveDataCurrent', window );">Entity Interactive Data Current</a></td>
<td class="text">Yes<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Non-accelerated Filer<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntitySmallBusiness', window );">Entity Small Business</a></td>
<td class="text">true<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">true<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityExTransitionPeriod', window );">Entity Ex Transition Period</a></td>
<td class="text">true<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,475,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">Q1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentQuarterlyReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as an quarterly report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-Q<br> -Number 240<br> -Section 308<br> -Subsection a<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentQuarterlyReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentTransitionReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a transition report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Forms 10-K, 10-Q, 20-F<br> -Number 240<br> -Section 13<br> -Subsection a-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentTransitionReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityExTransitionPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 7A<br> -Section B<br> -Subsection 2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityExTransitionPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInteractiveDataCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-T<br> -Number 232<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInteractiveDataCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntitySmallBusiness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicates that the company is a Smaller Reporting Company (SRC).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntitySmallBusiness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Statements of Assets and Liabilities - USD ($)<br></strong></div></th>
<th class="th"><div>Mar. 31, 2026</div></th>
<th class="th"><div>Dec. 31, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Investments', window );">Investment in ether, at fair value (cost $160,889,331, and $181,475,994, respectively)</a></td>
<td class="nump">$ 106,794,805<span></span>
</td>
<td class="nump">$ 157,608,454<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ReceivableInvestmentSale', window );">Receivable for investment in ether sold</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">14,100,054<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">106,794,805<span></span>
</td>
<td class="nump">171,708,508<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PayableCommonStockRedeemed', window );">Payable for shares redeemed</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">14,100,054<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_AccruedSponsorFee', window );">Accrued Sponsor fee</a></td>
<td class="nump">19,105<span></span>
</td>
<td class="nump">29,513<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">19,105<span></span>
</td>
<td class="nump">14,129,567<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsNet', window );">Net assets</a></td>
<td class="nump">$ 106,775,700<span></span>
</td>
<td class="nump">$ 157,578,941<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Shares issued (in Shares)</a></td>
<td class="nump">3,475,000<span></span>
</td>
<td class="nump">3,625,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Shares outstanding (in Shares)</a></td>
<td class="nump">3,475,000<span></span>
</td>
<td class="nump">3,625,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetAssetValuePerShare', window );">Net Asset Value per Share (in Dollars per share)</a></td>
<td class="nump">$ 30.73<span></span>
</td>
<td class="nump">$ 43.47<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ethv_AccruedSponsorFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accrued sponsor fee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_AccruedSponsorFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ethv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of asset recognized for present right to economic benefit.</p></div>
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Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 40: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 41: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481404/852-10-50-7<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of net assets (liabilities).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 205<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479938/205-30-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 205<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479910/205-30-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Investments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-14<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-11<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 80<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480078/944-80-55-14<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 80<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 9<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480078/944-80-55-9<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(1)(h))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(1)(6))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Investments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetAssetValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net asset value per share or per unit of investments in certain entities that calculate net asset value per share. Includes, but is not limited to, by unit, membership interest, or other ownership interest. Investment includes, but is not limited to, investment in certain hedge funds, venture capital funds, private equity funds, real estate partnerships or funds. Excludes fair value disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477796/946-210-45-4<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (h)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.6-05(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetAssetValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PayableCommonStockRedeemed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of payable for common stock reacquired. Includes, but is not limited to, unit, membership interest, or other ownership interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(10)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 405<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478790/946-405-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PayableCommonStockRedeemed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReceivableInvestmentSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of receivable from sale of investment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(5)(a)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 310<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477802/946-310-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReceivableInvestmentSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued which are neither cancelled nor held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Statements of Assets and Liabilities (Parentheticals) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2026</div></th>
<th class="th"><div>Dec. 31, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementOfFinancialPositionAbstract', window );"><strong>Statements of Assets and Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentOwnedAtCost', window );">Investment in ether, at cost</a></td>
<td class="nump">$ 160,889,331<span></span>
</td>
<td class="nump">$ 181,475,994<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockNoParValue', window );">Shares par value (in Dollars per share)</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorizedUnlimited', window );">Shares authorized, unlimited</a></td>
<td class="text">Unlimited<span></span>
</td>
<td class="text">Unlimited<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockNoParValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face amount per share of no-par value common stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockNoParValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorizedUnlimited">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicates whether number of common shares permitted to be issued is unlimited. Acceptable value is "Unlimited".</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorizedUnlimited</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>us-types:authorizedUnlimitedItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentOwnedAtCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cost of the investment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477439/946-210-55-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (a)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478795/946-210-50-6<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (a)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478795/946-210-50-6<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478795/946-210-50-6<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(d))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 320<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-12(Column C)(Footnote 8)(a)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-1<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 320<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-12B(Column C)(Footnote 11)(a)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-3<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 320<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 6<br> -Subparagraph (SX 210.12-14(Column F)(Footnote 5)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 320<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 19<br> -Subparagraph (3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-19<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentOwnedAtCost</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfFinancialPositionAbstract</td>
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<td>xbrli:stringItemType</td>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Statements of Operations (Unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2026</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursementAbstract', window );"><strong>Expenses</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SponsorFees', window );">Sponsor fee, related party</a></td>
<td class="nump">$ 63,630<span></span>
</td>
<td class="nump">$ 60,908<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total expenses</a></td>
<td class="nump">63,630<span></span>
</td>
<td class="nump">60,908<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyExpenseOffsetArrangement', window );">Sponsor fee waiver, related party</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(60,908)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement', window );">Net expenses</a></td>
<td class="nump">63,630<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetInvestmentIncome', window );">Net investment loss</a></td>
<td class="num">(63,630)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperatingAbstract', window );"><strong>Net realized loss and net change in unrealized appreciation (depreciation)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_NetRealizedGainLossOnEtherSoldForRedemptionOfShares', window );">Ether sold for redemption of shares</a></td>
<td class="num">(14,464,858)<span></span>
</td>
<td class="num">(1,192,767)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty', window );">Ether distributed for Sponsor fee, related party</a></td>
<td class="num">(24,939)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating', window );">Net realized loss on investment in ether</a></td>
<td class="num">(14,489,797)<span></span>
</td>
<td class="num">(1,192,767)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating', window );">Net change in unrealized appreciation (depreciation) from investment in ether</a></td>
<td class="num">(30,226,986)<span></span>
</td>
<td class="num">(68,317,443)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperating', window );">Net realized loss and net change in unrealized appreciation (depreciation)</a></td>
<td class="num">(44,716,783)<span></span>
</td>
<td class="num">(69,510,210)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net decrease in net assets resulting from operations</a></td>
<td class="num">$ (44,780,413)<span></span>
</td>
<td class="num">$ (69,510,210)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ethv_NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net realized gain (loss) on ether distributed for sponsor fee, related party.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_NetRealizedGainLossOnEtherDistributedForSponsorFeeRelatedParty</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ethv_</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ethv_NetRealizedGainLossOnEtherSoldForRedemptionOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net realized gain (loss) on ether sold for redemption of shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_NetRealizedGainLossOnEtherSoldForRedemptionOfShares</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ethv_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of realized and unrealized gain (loss) from remeasurement of crypto asset, classified as operating and nonoperating. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476163/350-60-45-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetRealizedAndUnrealizedGainLossOperatingAndNonoperatingAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of realized gain (loss) from remeasurement of crypto asset, classified as operating and nonoperating. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476163/350-60-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of unrealized gain (loss) from remeasurement of crypto asset, classified as operating and nonoperating. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476163/350-60-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after reimbursement and fee waiver, of expense for generation of investment income classified as operating.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursementAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyExpenseOffsetArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expense reduction under arrangement in which third party explicitly reduces its fee by specified amount for service provided in exchange for use of investment company's assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(g)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481019/946-20-45-5<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyExpenseOffsetArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetInvestmentIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-10<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-14<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-11<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(2)(d))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 5<br> -SubTopic 220<br> -Topic 946<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479105/946-220-45-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetInvestmentIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 205<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483499/205-20-50-7<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 205<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SponsorFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fees paid to advisors who provide certain management support and administrative oversight services including the organization and sale of stock, investment funds, limited partnerships and mutual funds.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SponsorFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td>debit</td>
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<td>duration</td>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Statements of Changes in Net Assets (Unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2026</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToReportingEntityAbstract', window );"><strong>Net decrease from operations</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetInvestmentIncome', window );">Net investment loss</a></td>
<td class="num">$ (63,630)<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating', window );">Net realized loss from investment in ether</a></td>
<td class="num">(14,489,797)<span></span>
</td>
<td class="num">(1,192,767)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating', window );">Net change in unrealized appreciation (depreciation) from investments in ether</a></td>
<td class="num">(30,226,986)<span></span>
</td>
<td class="num">(68,317,443)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net decrease in net assets resulting from operations</a></td>
<td class="num">(44,780,413)<span></span>
</td>
<td class="num">(69,510,210)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyCapitalShareTransactionsAbstract', window );"><strong>Capital Share transactions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Contributions for shares issued</a></td>
<td class="nump">34,473,179<span></span>
</td>
<td class="nump">9,957,156<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue', window );">Withdrawals for shares redeemed</a></td>
<td class="num">(40,496,007)<span></span>
</td>
<td class="num">(2,207,029)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyIncreaseDecreaseFromShareTransaction', window );">Net increase (decrease) in capital share transactions</a></td>
<td class="num">(6,022,828)<span></span>
</td>
<td class="nump">7,750,127<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapital', window );">Net decrease in net assets</a></td>
<td class="num">(50,803,241)<span></span>
</td>
<td class="num">(61,760,083)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_NetAssetsAbstract', window );"><strong>Net assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsNet', window );">Beginning of period</a></td>
<td class="nump">157,578,941<span></span>
</td>
<td class="nump">146,428,902<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsNet', window );">End of period</a></td>
<td class="nump">$ 106,775,700<span></span>
</td>
<td class="nump">$ 84,668,819<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ethv_NetAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_NetAssetsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ethv_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of net assets (liabilities).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 205<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479938/205-30-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 205<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479910/205-30-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of realized gain (loss) from remeasurement of crypto asset, classified as operating and nonoperating. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476163/350-60-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of unrealized gain (loss) from remeasurement of crypto asset, classified as operating and nonoperating. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476163/350-60-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in asset and (increase) decrease in liability, used in operating activity in reconciling net income to reflect cash provided by (used in) operating activity when indirect cash flow method is applied.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapital</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in equity from change in number of shares or units by investment company.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-11<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyIncreaseDecreaseFromShareTransaction</td>
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<tr>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAttributableToReportingEntityAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-10<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-14<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-11<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(2)(d))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 5<br> -SubTopic 220<br> -Topic 946<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479105/946-220-45-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetInvestmentIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1<br><br>Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-11<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480657/210-10-S50-11<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478009/946-205-45-4<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of stock that has been repurchased and retired during the period. The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1<br><br>Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1<br><br>Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480657/210-10-S50-11<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedAndRetiredDuringPeriodValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Schedules of Investment<br></strong></div></th>
<th class="th">
<div>Mar. 31, 2026 </div>
<div>USD ($) </div>
<div>Ethereum</div>
</th>
<th class="th">
<div>Dec. 31, 2025 </div>
<div>USD ($) </div>
<div>Ethereum</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfInvestmentsLineItems', window );"><strong>Schedules of Investment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_CryptoAssetNumberOfUnitsHeld', window );">Quantity of Ether (in Ethereum) | Ethereum</a></td>
<td class="nump">50,825.75<span></span>
</td>
<td class="nump">53,048.87<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetCost', window );">Cost</a></td>
<td class="nump">$ 160,889,331<span></span>
</td>
<td class="nump">$ 181,475,994<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetFairValue', window );">Fair Value</a></td>
<td class="nump">106,794,805<span></span>
</td>
<td class="nump">157,608,454<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss', window );">Total Investment in ether, Fair Value</a></td>
<td class="nump">106,794,805<span></span>
</td>
<td class="nump">157,608,454<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilities', window );">Liabilities in Excess of Other Assets, Fair Value</a></td>
<td class="num">(19,105)<span></span>
</td>
<td class="num">(29,513)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsNet', window );">Net Assets, Fair Value</a></td>
<td class="nump">$ 106,775,700<span></span>
</td>
<td class="nump">$ 157,578,941<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ethv_CryptoAssetNumberOfUnitsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of restricted and unrestricted crypto asset units held. Excludes crypto asset units held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_CryptoAssetNumberOfUnitsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ethv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of net assets (liabilities).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 205<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479938/205-30-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 205<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479910/205-30-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CryptoAssetCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cost of crypto asset. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CryptoAssetFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value of crypto asset. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476163/350-60-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated unrealized loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Topic 320<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (a)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479106/326-30-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of noninvestment asset (liability) representing difference between aggregate value of investments, including, but not limited to, long and short positions, and net assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.6-05(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfInvestmentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Schedules of Investment (Parentheticals)<br></strong></div></th>
<th class="th"><div>Mar. 31, 2026</div></th>
<th class="th"><div>Dec. 31, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfInvestmentsLineItems', window );"><strong>Schedules of Investment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentOwnedPercentOfNetAssets', window );">Total Investment in ether, % of Net Assets</a></td>
<td class="nump">100.02%<span></span>
</td>
<td class="nump">100.02%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets', window );">Liabilities in Excess of Other Assets, % of Net Assets</a></td>
<td class="num">(0.02%)<span></span>
</td>
<td class="num">(0.02%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_NetAssetsPercentageOfNetAssetsValue', window );">% of Net Assets</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of investment owned to net assets after deducting liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of investment owned to net assets.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentOwnedPercentOfNetAssets</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of noninvestment asset and liability, including, but not limited to, long and short positions, to net assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfInvestmentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NatureOfOperations', window );">Organization</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 1. Organization:</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">VanEck Ethereum ETF (the &#8220;Trust&#8221;),
a Delaware statutory trust, is an exchange-traded fund that issues common shares of beneficial interest in an ownership of the
Trust (the &#8220;Shares&#8221;). The Shares are traded on the Cboe BZX Exchange, Inc. (the &#8220;Exchange&#8221;). The Trust&#8217;s
investment objective is to reflect the performance of the price of ether (&#8220;ETH&#8221;) less the net operating expenses of
the Trust. The Trust is managed and controlled by VanEck Digital Assets, LLC (the &#8220;Sponsor&#8221;), a wholly-owned subsidiary
of Van Eck Associates Corporation (&#8220;VanEck&#8221;). The CSC Delaware Trust Company is the &#8220;Trustee&#8221; of the Trust.</p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482836/275-10-55-4<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482836/275-10-55-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-2<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 275<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-1<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Significant Accounting Policies</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 2. Significant Accounting Policies:</b></p>

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<table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">A.</td> <td><i>Basis of Preparation and Use of Estimates</i></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The preparation of financial statements
in conformity with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) requires management to make estimates and
assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those
estimates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust qualifies as an investment
company solely for accounting purposes and not for any other purpose and follows accounting and reporting requirements of Accounting
Standards Codification (&#8220;ASC&#8221;) Topic 946 Financial Services&#8212;Investment Companies<i> </i>(&#8220;ASC Topic 946&#8221;)<i>,
</i>but is not registered, and is not required to be registered, as an investment company under the Investment Company Act of
1940, as amended.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">B.</td> <td><i>Cash</i> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Cash, if any, represents cash
deposits held at a major financial institution and is subject to credit risk to the extent its balance exceeds the federally insured
limits. As of March 31, 2026 and December 31, 2025, the Trust did not hold cash.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">C.</td> <td><i>Investment Valuation</i></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust values its investment
in ETH and other assets and liabilities at fair value. Fair value is the price that would be received to sell an asset or paid
to transfer a liability in an orderly transaction between market participants on the measurement date.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust identifies and determines
the ETH principal market (or in the absence of a principal market, the most advantageous market) for GAAP financial statement
purposes consistent with the application of fair value measurement framework in Financial Accounting Standards Board (&#8220;FASB&#8221;)
ASC 820 at 11:59 p.m. EST. Under ASC 820, a principal market is the market with the greatest volume and activity level for the
asset or liability. The Sponsor on behalf of the Trust will determine in its sole discretion the valuation sources and policies
used to prepare the Trust&#8217;s financial statements in accordance with GAAP.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Various inputs are used in determining
the fair value of assets and liabilities. Inputs may be based on independent market data or they may be internally developed.
These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The
three levels of the fair value hierarchy are as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Level 1 &#8211; Unadjusted quoted prices
in active markets for identical assets or liabilities;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Level 2 &#8211; Inputs other than
quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including
quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities
in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability,
and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Level 3 &#8211; Unobservable
inputs where there are little or no market activity for the asset or liability, including the Trust&#8217;s assumptions used in
determining the fair value of investments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The following is a summary of the fair value
hierarchy as of March 31, 2026, and December 31, 2025:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&#160;</p>

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    <td>&#160;</td>
    <td style="font-weight: bold">March 31, 2026</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Level 1</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#160;</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Total</td><td style="font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold">Assets</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
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    <td style="font-size: 10pt; text-align: left; padding-bottom: 3px; padding-left: 10pt">Investment in ETH</td><td style="width: 1%; padding-bottom: 3px">&#160;</td>
    <td style="width: 1%; border-bottom: Black 3px double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 3px double; text-align: right">106,794,805</td><td style="width: 1%; border-bottom: Black 3px double; text-align: left">&#160;</td><td style="width: 1%; border-bottom: Black 3px double">&#160;</td>
    <td style="width: 1%; border-bottom: Black 3px double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 3px double; text-align: right">&#8212;</td><td style="width: 1%; border-bottom: Black 3px double; text-align: left">&#160;</td><td style="width: 1%; border-bottom: Black 3px double">&#160;</td>
    <td style="width: 1%; border-bottom: Black 3px double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 3px double; text-align: right">&#8212;</td><td style="width: 1%; border-bottom: Black 3px double; text-align: left">&#160;</td><td style="width: 1%; border-bottom: Black 3px double">&#160;</td>
    <td style="width: 1%; border-bottom: Black 3px double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 3px double; text-align: right">106,794,805</td><td style="width: 1%; padding-bottom: 3px; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold">December 31, 2025</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Level 1</td><td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Level 3</td><td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Total</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold">Assets</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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<tr style="vertical-align: bottom">
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    <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">&#8212;</td><td style="border-bottom: Black 3px double; text-align: left">&#160;</td><td style="border-bottom: Black 3px double">&#160;</td>
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</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The following represents the changes in quantity
of ETH and the respective fair value:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-size: 10pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"><span style="font-size: 8pt">ETH</span></td><td style="padding-bottom: 1px; font-weight: bold"><span style="font-size: 8pt">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1px"><span style="font-size: 8pt">&#160;</span></td>
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="width: 36pt; background-color: White">&#160;</td>
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<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-align: left; text-indent: 0pt">ETH purchased</td><td>&#160;</td>
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="background-color: White">&#160;</td>
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<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Net change in unrealized appreciation (depreciation) from investment in ETH</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#8212;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">(30,226,986)</span></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="background-color: White">&#160;</td>
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<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 3px; text-indent: 0pt">Ending balance as of March 31, 2026</td><td style="padding-bottom: 3px">&#160;</td>
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    <td style="border-bottom: Black 3px double; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 3px double; text-align: right"><span style="font-size: 8pt">106,794,805</span></td><td style="padding-bottom: 3px; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: normal; text-indent: 0pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left">&#160;</td></tr>

<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"><span style="font-size: 8pt">ETH</span></td><td style="padding-bottom: 1px; font-weight: bold"><span style="font-size: 8pt">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1px"><span style="font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"><span style="font-size: 8pt">Fair
    Value</span></td><td style="padding-bottom: 1px; font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="width: 36pt; background-color: White">&#160;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 1px; text-indent: 0pt">Beginning balance as of January 1, 2025</td><td style="width: 2%; padding-bottom: 1px">&#160;</td>
    <td style="width: 1%; border-bottom: Black 1px solid; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="width: 10%; border-bottom: Black 1px solid; text-align: right"><span style="font-size: 8pt">43,935.83</span></td><td style="width: 1%; padding-bottom: 1px; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="width: 2%; padding-bottom: 1px"><span style="font-size: 8pt">&#160;</span></td>
    <td style="width: 1%; border-bottom: Black 1px solid; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 10%; border-bottom: Black 1px solid; text-align: right"><span style="font-size: 8pt">146,428,902</span></td><td style="width: 1%; padding-bottom: 1px; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-align: left; text-indent: 0pt">ETH purchased</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">47,219.32</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">172,013,256</span></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="background-color: White">&#160;</td>
    <td style="font-size: 10pt; text-align: left; text-indent: 0pt">ETH sold</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">(38,106.28)</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
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<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Net change in unrealized appreciation (depreciation) from investment in ETH</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#8212;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">(34,062,356)</span></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="background-color: White">&#160;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1px; text-indent: 0pt">Net realized gain on investment in ETH</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="border-bottom: Black 1px solid; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="border-bottom: Black 1px solid; text-align: right"><span style="font-size: 8pt">&#8212;</span></td><td style="padding-bottom: 1px; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1px"><span style="font-size: 8pt">&#160;</span></td>
    <td style="border-bottom: Black 1px solid; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="border-bottom: Black 1px solid; text-align: right"><span style="font-size: 8pt">508,652</span></td><td style="padding-bottom: 1px; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 3px; text-indent: 0pt">Ending balance as of December 31, 2025</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="border-bottom: Black 3px double; text-align: right"><span style="font-size: 8pt">53,048.87</span></td><td style="padding-bottom: 3px; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="padding-bottom: 3px"><span style="font-size: 8pt">&#160;</span></td>
    <td style="border-bottom: Black 3px double; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 3px double; text-align: right"><span style="font-size: 8pt">157,608,454</span></td><td style="padding-bottom: 3px; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-indent: 0pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left">&#160;</td></tr>
</table>

<table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">D.</td> <td><i>Ether</i></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">ETH transactions are accounted
for on trade date. Realized gains and losses on the sale of ETH are determined based on the average cost method. Under ASC Topic
946, the average cost method is an accepted method to determine realized gains and losses on the sale of ETH. Proceeds received
by the Trust from the issuance of baskets consist of ETH. Deposits of ETH are held by Gemini Trust Company, LLC (the &#8220;ETH
Custodian&#8221;) and at Coinbase Custody Trust Company, LLC (the &#8220;Additional ETH Custodian&#8221;, and collectively the
&#8220;ETH Custodians&#8221;), on behalf of the Trust until (i) delivered out in connection with redemptions of baskets or cash
or (ii) sold by the Sponsor, which may be facilitated by the ETH Custodians, to pay fees due to the Sponsor and Trust expenses
and liabilities not assumed by the Sponsor.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">E.</td> <td><i>Calculation of Net Asset Value</i></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust&#8217;s net asset value
(&#8220;NAV&#8221;) is calculated based on the Trust&#8217;s net asset holdings, as reconciled to the ETH Custodians&#8217; accounts,
on a market approach determined on a daily basis using the MarketVector<sup>TM</sup> Ethereum Benchmark Rate price at 4:00 pm
EST. The Trust&#8217;s NAV per Share is calculated by taking the current market value of its total assets, subtracting any liabilities,
and then dividing that total by the total number of outstanding Shares. The Trust Agreement gives the Sponsor the exclusive authority
to determine the Trust&#8217;s NAV and the Trust&#8217;s NAV per Share, which it has delegated to the Administrator.</p><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">F.</td> <td><i>Federal Income Taxes</i></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust is treated as a grantor
trust for federal income tax purposes and, therefore, no provision for federal income taxes is required. Any interest, expenses,
gains and losses are passed through to the holders of Shares of the Trust. The Sponsor has reviewed the tax positions for the
periods presented and has determined that no provision for income tax is required in the Trust&#8217;s financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">G.</td> <td><i>Segment Reporting</i></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Chief Financial Officer and
Treasurer of the Sponsor acts as the Trust&#8217;s chief operating decision maker (&#8220;CODM&#8221;), assessing performance
and making decisions about resource allocation. The CODM has determined that the Trust has a <span style="-sec-ix-hidden: hidden-fact-2">single</span> operating segment based on
the fact that the Trust&#8217;s long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus,
with a defined investment strategy which is executed by the Sponsor.<span style="color: #03871A"> </span>The financial information
provided to and reviewed by the CODM is presented within the Trust&#8217;s financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">H.</td> <td><i>Interim financial statements</i></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The financial statements included
herein were prepared without audit according to the rules and regulations of the Securities and Exchange Commission. Certain information
and footnote disclosures normally included in financial statements prepared in accordance with GAAP may be omitted pursuant to
such rules and regulations. The financial statements reflect, in the opinion of management, all adjustments necessary that were
of a normal and recurring nature and adequate disclosures to present fairly the financial position and results of operations as
of and for the periods indicated. The results of operations for the three months ended March 31, 2026 and 2025, are not necessarily
indicative of the results to be expected for the full year or for any other period.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">These financial statements should
be read in conjunction with the audited financial statements and the notes thereto included in the Form 10-K previously filed
with the SEC.</p><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for all significant accounting policies of the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/235/tableOfContent<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483426/235-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Trust Expenses and Other Agreements<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_TrustExpensesAndOtherAgreementsAbstract', window );"><strong>Trust Expenses and Other Agreements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_TrustExpensesandOtherAgreementsTextBlock', window );">Trust Expenses and Other Agreements</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 3. Trust Expenses and Other Agreements</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trust pays the Sponsor a unified fee
(the &#8220;Sponsor Fee&#8221;) of 0.20% of average daily net assets that accrues daily and pays monthly. For the period from
July 23, 2024 through July 22, 2025, the Sponsor waived the entire Sponsor Fee for the first $1.5 billion of the Trust&#8217;s
net assets. The Sponsor has agreed to pay all operating expenses (except for litigation expenses and other extraordinary expenses)
from the Sponsor Fee. The Sponsor from time to time will sell ETH, which may be facilitated by one or more liquidity providers
and/or the ETH Custodians, in such quantity as is necessary to permit payment of the Sponsor Fee and Trust expenses and liabilities
not assumed by the Sponsor.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trustee fee is paid by the Sponsor
and is not an expense of the Trust.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trust holds its ETH at the ETH Custodian
and at the Additional ETH Custodian, both of which are regulated third-party custodians that carry insurance (in the case of the
Additional ETH Custodian, such insurance is carried by its parent, Coinbase Inc., and is intended to cover the loss of client
assets held by Coinbase Inc. and its subsidiaries, including the Additional ETH Custodian) and are responsible for safekeeping
of ETH owned by the Trust and holding private keys that provide access to the ETH in the Trust&#8217;s ETH account.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">State Street Bank and Trust Company serves as the Trust&#8217;s
administrator, transfer agent and cash custodian.</p><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Parties<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Parties [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 4. Related Parties</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Sponsor is considered to be a related party to the Trust.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">MarketVector Indexes GmbH is the index
sponsor and index administrator for the MarketVector Ethereum Benchmark Rate, which is used by the Trust to determine its NAV.
MarketVector Indexes GmbH is an indirectly wholly-owned subsidiary of VanEck.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Van Eck Securities Corporation, a marketing agent to the Trust,
is a wholly-owned subsidiary of VanEck.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">VanEck is a minority interest holder in
the parent company of the ETH Custodian, representing less than 1% of its equity.</p><span></span>
</td>
</tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(g)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(7)(e)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480990/946-20-50-2<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480990/946-20-50-5<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480990/946-20-50-6<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(e))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/850/tableOfContent<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-6<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Capital Share Transactions<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteAbstract', window );"><strong>Capital Share Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock', window );">Capital Share Transactions</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 5. Capital Share Transactions</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Investors can buy and sell Shares of the
Trust in secondary market transactions through brokers. Shares trade on the Exchange under the ticker symbol ETHV. Shares are
bought and sold throughout the trading day like other publicly traded securities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trust continuously offers the Shares
in baskets consisting of 25,000 Shares to authorized participants. Authorized participants pay a transaction fee for each order
they place to create or redeem one or more baskets. The Administrator calculates the cost to purchase (or sell in the case of
a redemption order) the amount of ETH represented by the baskets being created (or redeemed); the amount of ETH represented is
equal to the combined NAV of the number of Shares included in the baskets being created (or redeemed).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trust creates and redeems Shares, but
only in one or more baskets. Baskets are only made in exchange for delivery to the Trust or the distribution by the Trust of the
amount of ETH represented by the baskets being created or redeemed, the amount of which is equal to the combined NAV of the number
of Shares included in the baskets being created or redeemed determined as of 4:00 p.m. EST on the day the order to create or redeem
baskets is properly received. The authorized participants deliver cash or ETH to create baskets and receive cash or ETH when redeeming
Shares. For a subscription in cash, an authorized participant will deliver cash to the Trust&#8217;s account at the cash custodian,
which the Sponsor will then use to purchase ETH from a liquidity provider chosen by the Sponsor. For a redemption in cash, the
Sponsor will arrange for the ETH represented by the basket to be sold to a liquidity provider chosen by the Sponsor and the cash
proceeds distributed from the Trust&#8217;s account at the cash custodian to the authorized participant. For an &#8220;in-kind&#8221;
subscription, authorized participants will deliver, or arrange for the delivery by the authorized participant&#8217;s designee
of, ETH to the Trust&#8217;s account with the ETH Custodian or Additional ETH Custodian in exchange for Shares when they purchase
Shares. For an &#8220;in-kind&#8221; redemption transaction with the Trust, when authorized participants redeem Shares, the Trust
through the ETH Custodian or the Additional ETH Custodian, will deliver ETH to such authorized participants, or a designee thereof,
in exchange for their Shares. Only authorized participants may place orders to create and redeem baskets through the transfer
agent. The transfer agent will coordinate with the Trust&#8217;s ETH Custodians to facilitate settlement of the Shares and ETH.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Share and capital activity is as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="14" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1px; font-weight: bold">&#160;</td></tr>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingent Liabilities<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
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<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Commitments and Contingent Liabilities [Abstract]</strong></a></td>
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 6. Commitments and Contingent Liabilities</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the normal course of business, the Trust
enters into contracts that contain a variety of general indemnifications. The Trust&#8217;s maximum exposure under these agreements
is unknown as this would involve future claims that may be made against the Trust that have not yet occurred. However, the Sponsor
believes the risk of loss under these arrangements to be remote.</p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 440<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/440/tableOfContent<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 450<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/450/tableOfContent<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 405<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/405-30/tableOfContent<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 440<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482648/440-10-50-4<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 954<br> -SubTopic 440<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478522/954-440-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 440<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482648/440-10-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Concentration Risk<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RisksAndUncertaintiesAbstract', window );"><strong>Concentration Risk [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskDisclosureTextBlock', window );">Concentration Risk</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 7. Concentration Risk</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Substantially all of the Trust&#8217;s
assets are holdings of ETH, which creates a concentration risk associated with fluctuations in the value of ETH due to a number
of factors. Accordingly, a decline in the value of ETH will have an adverse effect on the value of the Shares of the Trust. Factors
that may have the effect of causing a decline in the value of ETH include high volatility, which could have a negative impact
on the performance of the Trust. ETH platforms are</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">relatively new and may be unregulated
or may be subject to regulation in a relevant jurisdiction, but may not be complying, and therefore, may be more exposed to fraud
and security breaches than established, regulated exchanges for other financial assets or instruments, which could have a negative
impact on the performance of the Trust. The value of the Shares depends on the development and acceptance of the ethereum network.
The slowing or stopping of the development or acceptance of the ethereum network may adversely affect an investment in the Trust.
The price of ETH on the ETH market has exhibited periods of extreme volatility. Digital assets such as ETH were only introduced
within the past decade, and the medium-to-long term value of the Shares is subject to a number of factors relating to the capabilities
and development of block-chain technologies and to the fundamental investment characteristics of digital assets that are uncertain
and difficult to evaluate. The Trust is subject to risks due to its concentration of investments in a single asset class. Possible
illiquid markets may exacerbate losses or increase the variability between the Trust&#8217;s NAV and its market price. The amount
of ETH represented by the Shares may decline over time.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Future and current regulations by a United
States or foreign government or quasi-governmental agency could have an adverse effect on an investment in the Trust. Shareholders
do not have the protections associated with ownership of Shares in an investment company registered under the 1940 Act or the
protections afforded by the Commodity Exchange Act. Future legal or regulatory developments may negatively affect the value of
ETH or require the Trust or the Sponsor to become registered with the SEC or CFTC, which may cause the Trust to liquidate.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Exchange on which the Shares are listed
may halt trading in the Trust&#8217;s Shares, which would adversely impact a Shareholder&#8217;s ability to sell Shares. The market
infrastructure of the ETH spot market could result in the absence of active authorized participants able to support the trading
activity of the Trust.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shareholders that are not authorized participants
may only purchase or sell their Shares in secondary trading markets, and the conditions associated with trading in secondary markets
may adversely affect Shareholders&#8217; investment in the Shares.</p><span></span>
</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (d)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (d)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (c)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (c)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 3A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482836/275-10-55-3A<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-2A<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-1<br><br>Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 275<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/275/tableOfContent<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Highlights<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyFinancialHighlightsAbstract', window );"><strong>Financial Highlights [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 8. Financial Highlights</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial highlights summarize certain
per share operating information and financial ratios of net investment loss and expenses, to daily average net assets for the
periods below. An individual investor&#8217;s return and ratios may vary based on the timing of capital transactions:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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    <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Three&#160;Months<br/> Ended March<br/> 31, 2026</td><td style="padding-bottom: 1px">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Three&#160;Months<br/> Ended March<br/> 31, 2025</td><td style="padding-bottom: 1px">&#160;</td></tr>
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    <td style="width: 70%">Net asset value per share, beginning of period</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-3"> 4 3.47</div></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">48.81</td><td style="width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left; padding-bottom: 1px; padding-left: 10pt">Net realized loss and change in unrealized appreciation
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    <td style="text-align: left; border-bottom: Black 3px double">$</td><td style="text-align: right; border-bottom: Black 3px double"> 30.73</td><td style="text-align: left; padding-bottom: 3px">&#160;</td><td style="padding-bottom: 3px">&#160;</td>
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    <td style="text-align: left; padding-left: 10pt">Total return<sup>(c)</sup></td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">0.20%</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0.00%</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-left: 10pt">Net investment loss</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(0.20)%</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0.00%</td><td style="text-align: left">&#160;</td></tr>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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<tr style="vertical-align: top"> <td style="width: 18pt">(a)</td> <td>Net investment loss per share has been calculated based upon an average of daily shares outstanding.</td></tr>
<tr style="vertical-align: top"> <td>(b)</td> <td>The amount shown for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses for the period because of the timing of sales and repurchases of the Trust&#8217;s shares in relation to fluctuating market values of ETH.</td></tr>
<tr style="vertical-align: top"> <td>(c)</td> <td>Returns are not annualized and inc lude adjustments required by GAAP. Returns for financial statements purposes may differ from net asset values and performance reported elsewhere by the Trust.</td></tr>
<tr style="vertical-align: top"> <td>(d)</td> <td>Annualized.</td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of financial highlights reported by investment company.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480990/946-20-50-7<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 24<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Event Review<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SubsequentEventsAbstract', window );"><strong>Subsequent Event Review [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Subsequent Event Review</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 9. Subsequent Event Review</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trust has evaluated subsequent events
and transactions for potential recognition or disclosure through the date the financial statements were issued and has determined
that there are no material events that would require disclosure.</p><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 855<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/855/tableOfContent<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 855<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Pay vs Performance Disclosure - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2026</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ecd_PvpTable', window );"><strong>Pay vs Performance Disclosure</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net Income (Loss)</a></td>
<td class="num">$ (44,780,413)<span></span>
</td>
<td class="num">$ (69,510,210)<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 402<br> -Subsection v<br> -Paragraph 1<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insider Trading Arrangements<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 408<br> -Subsection a<br> -Paragraph 1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 408<br> -Subsection a<br> -Paragraph 1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K<br> -Number 229<br> -Section 408<br> -Subsection a<br> -Paragraph 2<br> -Subparagraph A<br></p></div>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies, by Policy (Policies)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
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<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock', window );">Basis of Preparation</a></td>
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<tr style="vertical-align: top"> <td style="width: 36pt">A.</td> <td><i>Basis of Preparation and Use of Estimates</i></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The preparation of financial statements
in conformity with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) requires management to make estimates and
assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those
estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust qualifies as an investment
company solely for accounting purposes and not for any other purpose and follows accounting and reporting requirements of Accounting
Standards Codification (&#8220;ASC&#8221;) Topic 946 Financial Services&#8212;Investment Companies<i> </i>(&#8220;ASC Topic 946&#8221;)<i>,
</i>but is not registered, and is not required to be registered, as an investment company under the Investment Company Act of
1940, as amended.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates</a></td>
<td class="text"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">A.</td> <td><i>Basis of Preparation and Use of Estimates</i></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The preparation of financial statements
in conformity with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) requires management to make estimates and
assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those
estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust qualifies as an investment
company solely for accounting purposes and not for any other purpose and follows accounting and reporting requirements of Accounting
Standards Codification (&#8220;ASC&#8221;) Topic 946 Financial Services&#8212;Investment Companies<i> </i>(&#8220;ASC Topic 946&#8221;)<i>,
</i>but is not registered, and is not required to be registered, as an investment company under the Investment Company Act of
1940, as amended.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash</a></td>
<td class="text"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">B.</td> <td><i>Cash</i> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Cash, if any, represents cash
deposits held at a major financial institution and is subject to credit risk to the extent its balance exceeds the federally insured
limits. As of March 31, 2026 and December 31, 2025, the Trust did not hold cash.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueMeasurementPolicyPolicyTextBlock', window );">Investment Valuation</a></td>
<td class="text"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">C.</td> <td><i>Investment Valuation</i></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust values its investment
in ETH and other assets and liabilities at fair value. Fair value is the price that would be received to sell an asset or paid
to transfer a liability in an orderly transaction between market participants on the measurement date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust identifies and determines
the ETH principal market (or in the absence of a principal market, the most advantageous market) for GAAP financial statement
purposes consistent with the application of fair value measurement framework in Financial Accounting Standards Board (&#8220;FASB&#8221;)
ASC 820 at 11:59 p.m. EST. Under ASC 820, a principal market is the market with the greatest volume and activity level for the
asset or liability. The Sponsor on behalf of the Trust will determine in its sole discretion the valuation sources and policies
used to prepare the Trust&#8217;s financial statements in accordance with GAAP.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Various inputs are used in determining
the fair value of assets and liabilities. Inputs may be based on independent market data or they may be internally developed.
These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The
three levels of the fair value hierarchy are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Level 1 &#8211; Unadjusted quoted prices
in active markets for identical assets or liabilities;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Level 2 &#8211; Inputs other than
quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including
quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities
in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability,
and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">Level 3 &#8211; Unobservable
inputs where there are little or no market activity for the asset or liability, including the Trust&#8217;s assumptions used in
determining the fair value of investments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The following is a summary of the fair value
hierarchy as of March 31, 2026, and December 31, 2025:</p><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td>&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Level 1</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#160;</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#160;</td>
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<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold">Assets</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
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    <td style="font-size: 10pt; text-align: left; padding-bottom: 3px; padding-left: 10pt">Investment in ETH</td><td style="width: 1%; padding-bottom: 3px">&#160;</td>
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    <td style="width: 1%; border-bottom: Black 3px double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 3px double; text-align: right">&#8212;</td><td style="width: 1%; border-bottom: Black 3px double; text-align: left">&#160;</td><td style="width: 1%; border-bottom: Black 3px double">&#160;</td>
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<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold">December 31, 2025</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Level 1</td><td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#160;</td>
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<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold">Assets</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 3px; padding-left: 10pt">Investment in ETH</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">157,608,454</td><td style="border-bottom: Black 3px double; text-align: left">&#160;</td><td style="border-bottom: Black 3px double">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">&#8212;</td><td style="border-bottom: Black 3px double; text-align: left">&#160;</td><td style="border-bottom: Black 3px double">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">&#8212;</td><td style="border-bottom: Black 3px double; text-align: left">&#160;</td><td style="border-bottom: Black 3px double">&#160;</td>
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</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The following represents the changes in quantity
of ETH and the respective fair value:</p><table cellpadding="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-size: 10pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"><span style="font-size: 8pt">ETH</span></td><td style="padding-bottom: 1px; font-weight: bold"><span style="font-size: 8pt">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1px"><span style="font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"><span style="font-size: 8pt">Fair
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="width: 36pt; background-color: White">&#160;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 1px; text-indent: 0pt">Beginning balance as of January 1, 2026</td><td style="width: 2%; padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-align: left; text-indent: 0pt">ETH purchased</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">14,627.60</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">34,473,207</span></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="background-color: White">&#160;</td>
    <td style="font-size: 10pt; text-align: left; text-indent: 0pt">ETH sold</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">(16,850.72)</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
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<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Net change in unrealized appreciation (depreciation) from investment in ETH</td><td>&#160;</td>
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="background-color: White">&#160;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1px; text-indent: 0pt">Net realized loss on investment in ETH</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="border-bottom: Black 1px solid; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="border-bottom: Black 1px solid; text-align: right"><span style="font-size: 8pt">&#8212;</span></td><td style="padding-bottom: 1px; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1px"><span style="font-size: 8pt">&#160;</span></td>
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<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 3px; text-indent: 0pt">Ending balance as of March 31, 2026</td><td style="padding-bottom: 3px">&#160;</td>
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<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: normal; text-indent: 0pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left">&#160;</td></tr>

<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"><span style="font-size: 8pt">ETH</span></td><td style="padding-bottom: 1px; font-weight: bold"><span style="font-size: 8pt">&#160;</span></td><td style="font-weight: bold; padding-bottom: 1px"><span style="font-size: 8pt">&#160;</span></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"><span style="font-size: 8pt">Fair
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="width: 36pt; background-color: White">&#160;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 1px; text-indent: 0pt">Beginning balance as of January 1, 2025</td><td style="width: 2%; padding-bottom: 1px">&#160;</td>
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<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-align: left; text-indent: 0pt">ETH purchased</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">47,219.32</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">172,013,256</span></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="background-color: White">&#160;</td>
    <td style="font-size: 10pt; text-align: left; text-indent: 0pt">ETH sold</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">(38,106.28)</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
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<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Net change in unrealized appreciation (depreciation) from investment in ETH</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#8212;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">(34,062,356)</span></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="background-color: White">&#160;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1px; text-indent: 0pt">Net realized gain on investment in ETH</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="border-bottom: Black 1px solid; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="border-bottom: Black 1px solid; text-align: right"><span style="font-size: 8pt">&#8212;</span></td><td style="padding-bottom: 1px; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="padding-bottom: 1px"><span style="font-size: 8pt">&#160;</span></td>
    <td style="border-bottom: Black 1px solid; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="border-bottom: Black 1px solid; text-align: right"><span style="font-size: 8pt">508,652</span></td><td style="padding-bottom: 1px; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td>&#160;</td>
    <td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 3px; text-indent: 0pt">Ending balance as of December 31, 2025</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="border-bottom: Black 3px double; text-align: right"><span style="font-size: 8pt">53,048.87</span></td><td style="padding-bottom: 3px; text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="padding-bottom: 3px"><span style="font-size: 8pt">&#160;</span></td>
    <td style="border-bottom: Black 3px double; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 3px double; text-align: right"><span style="font-size: 8pt">157,608,454</span></td><td style="padding-bottom: 3px; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-indent: 0pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td><span style="font-size: 8pt">&#160;</span></td>
    <td style="text-align: left"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: right"><span style="font-size: 8pt">&#160;</span></td><td style="text-align: left">&#160;</td></tr>
</table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_EthereumPolicyTextBlock', window );">Ether</a></td>
<td class="text"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">D.</td> <td><i>Ether</i></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">ETH transactions are accounted
for on trade date. Realized gains and losses on the sale of ETH are determined based on the average cost method. Under ASC Topic
946, the average cost method is an accepted method to determine realized gains and losses on the sale of ETH. Proceeds received
by the Trust from the issuance of baskets consist of ETH. Deposits of ETH are held by Gemini Trust Company, LLC (the &#8220;ETH
Custodian&#8221;) and at Coinbase Custody Trust Company, LLC (the &#8220;Additional ETH Custodian&#8221;, and collectively the
&#8220;ETH Custodians&#8221;), on behalf of the Trust until (i) delivered out in connection with redemptions of baskets or cash
or (ii) sold by the Sponsor, which may be facilitated by the ETH Custodians, to pay fees due to the Sponsor and Trust expenses
and liabilities not assumed by the Sponsor.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Calculation of Net Asset Value</a></td>
<td class="text"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">E.</td> <td><i>Calculation of Net Asset Value</i></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust&#8217;s net asset value
(&#8220;NAV&#8221;) is calculated based on the Trust&#8217;s net asset holdings, as reconciled to the ETH Custodians&#8217; accounts,
on a market approach determined on a daily basis using the MarketVector<sup>TM</sup> Ethereum Benchmark Rate price at 4:00 pm
EST. The Trust&#8217;s NAV per Share is calculated by taking the current market value of its total assets, subtracting any liabilities,
and then dividing that total by the total number of outstanding Shares. The Trust Agreement gives the Sponsor the exclusive authority
to determine the Trust&#8217;s NAV and the Trust&#8217;s NAV per Share, which it has delegated to the Administrator.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Federal Income Taxes</a></td>
<td class="text"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">F.</td> <td><i>Federal Income Taxes</i></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Trust is treated as a grantor
trust for federal income tax purposes and, therefore, no provision for federal income taxes is required. Any interest, expenses,
gains and losses are passed through to the holders of Shares of the Trust. The Sponsor has reviewed the tax positions for the
periods presented and has determined that no provision for income tax is required in the Trust&#8217;s financial statements.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SegmentReportingPolicyPolicyTextBlock', window );">Segment Reporting</a></td>
<td class="text"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">G.</td> <td><i>Segment Reporting</i></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The Chief Financial Officer and
Treasurer of the Sponsor acts as the Trust&#8217;s chief operating decision maker (&#8220;CODM&#8221;), assessing performance
and making decisions about resource allocation. The CODM has determined that the Trust has a <span style="-sec-ix-hidden: hidden-fact-2">single</span> operating segment based on
the fact that the Trust&#8217;s long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus,
with a defined investment strategy which is executed by the Sponsor.<span style="color: #03871A"> </span>The financial information
provided to and reviewed by the CODM is presented within the Trust&#8217;s financial statements.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_InterimFinancialStatementsPolicyTextBlock', window );">Interim Financial Statements</a></td>
<td class="text"><table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 36pt">H.</td> <td><i>Interim financial statements</i></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">The financial statements included
herein were prepared without audit according to the rules and regulations of the Securities and Exchange Commission. Certain information
and footnote disclosures normally included in financial statements prepared in accordance with GAAP may be omitted pursuant to
such rules and regulations. The financial statements reflect, in the opinion of management, all adjustments necessary that were
of a normal and recurring nature and adequate disclosures to present fairly the financial position and results of operations as
of and for the periods indicated. The results of operations for the three months ended March 31, 2026 and 2025, are not necessarily
indicative of the results to be expected for the full year or for any other period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify">These financial statements should
be read in conjunction with the audited financial statements and the notes thereto included in the Form 10-K previously filed
with the SEC.</p><span></span>
</td>
</tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for ethereum.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for interim financial statements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483426/235-10-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerSharePolicyTextBlock</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2D<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2D<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2C<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for segment reporting.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock', window );">Summary of Fair value Hierarchy</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The following is a summary of the fair value
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&#160;</p>

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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Level 1</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#160;</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#160;</td>
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    <td style="font-weight: bold">Assets</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="width: 1%; border-bottom: Black 3px double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 3px double; text-align: right">106,794,805</td><td style="width: 1%; border-bottom: Black 3px double; text-align: left">&#160;</td><td style="width: 1%; border-bottom: Black 3px double">&#160;</td>
    <td style="width: 1%; border-bottom: Black 3px double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 3px double; text-align: right">&#8212;</td><td style="width: 1%; border-bottom: Black 3px double; text-align: left">&#160;</td><td style="width: 1%; border-bottom: Black 3px double">&#160;</td>
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    <td style="width: 1%; border-bottom: Black 3px double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 3px double; text-align: right">106,794,805</td><td style="width: 1%; padding-bottom: 3px; text-align: left">&#160;</td></tr>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Level 1</td><td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="font-weight: bold; border-bottom: Black 1px solid">&#160;</td>
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    <td>&#160;</td>
    <td style="font-weight: bold">Assets</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right">&#160;</td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 3px; padding-left: 10pt">Investment in ETH</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">157,608,454</td><td style="border-bottom: Black 3px double; text-align: left">&#160;</td><td style="border-bottom: Black 3px double">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">&#8212;</td><td style="border-bottom: Black 3px double; text-align: left">&#160;</td><td style="border-bottom: Black 3px double">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">&#8212;</td><td style="border-bottom: Black 3px double; text-align: left">&#160;</td><td style="border-bottom: Black 3px double">&#160;</td>
    <td style="border-bottom: Black 3px double; text-align: left">$</td><td style="border-bottom: Black 3px double; text-align: right">157,608,454</td><td style="padding-bottom: 3px; text-align: left">&#160;</td></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock', window );">Changes in Quantity of ETH and Fair Value</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">The following represents the changes in quantity
of ETH and the respective fair value:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&#160;</p>

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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
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<tr style="vertical-align: bottom; ">
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<tr style="vertical-align: bottom">
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Capital Share Transactions (Tables)<br></strong></div></th>
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    <td style="border-bottom: Black 1px solid; text-align: left">&#160;</td><td style="border-bottom: Black 1px solid; text-align: right">(75,000)</td><td style="padding-bottom: 1px; text-align: left">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Highlights (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2026</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyFinancialHighlightsAbstract', window );"><strong>Financial Highlights [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyFinancialHighlightsTableTextBlock', window );">Summary of Financial Highlights</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial highlights summarize certain
per share operating information and financial ratios of net investment loss and expenses, to daily average net assets for the
periods below. An individual investor&#8217;s return and ratios may vary based on the timing of capital transactions:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
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    <td style="text-align: center; padding-bottom: 1px">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Three&#160;Months<br/> Ended March<br/> 31, 2026</td><td style="padding-bottom: 1px">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Three&#160;Months<br/> Ended March<br/> 31, 2025</td><td style="padding-bottom: 1px">&#160;</td></tr>
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    <td style="width: 70%">Net asset value per share, beginning of period</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-3"> 4 3.47</div></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">48.81</td><td style="width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">From investment operations:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-left: 10pt">Net investment loss<sup>(a)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(0.02)</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; ">
    <td style="text-align: left; padding-bottom: 1px; padding-left: 10pt">Net realized loss and change in unrealized appreciation
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    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(12.72)</td><td style="text-align: left; padding-bottom: 1px">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(21.93)</td><td style="text-align: left; padding-bottom: 1px">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-bottom: 1px; padding-left: 20pt">Net decrease resulting from operations</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(12.74)</td><td style="text-align: left; padding-bottom: 1px">&#160;</td><td style="padding-bottom: 1px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 1px solid">&#160;</td><td style="text-align: right; border-bottom: Black 1px solid">(21.93)</td><td style="text-align: left; padding-bottom: 1px">&#160;</td></tr>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="padding-bottom: 3px">Net asset value per share, end of period</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 3px double">$</td><td style="text-align: right; border-bottom: Black 3px double"> 30.73</td><td style="text-align: left; padding-bottom: 3px">&#160;</td><td style="padding-bottom: 3px">&#160;</td>
    <td style="text-align: left; border-bottom: Black 3px double">$</td><td style="text-align: right; border-bottom: Black 3px double">26.88</td><td style="text-align: left; padding-bottom: 3px">&#160;</td></tr>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left; padding-left: 10pt">Total return<sup>(c)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(29.31)%</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(44.93)%</td><td style="text-align: left">&#160;</td></tr>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">Ratios to average net assets<sup>(d)</sup></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left; padding-left: 10pt">Expenses before fee waiver</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0.20%</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0.20%</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left; padding-left: 10pt">Expenses after fee waiver</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0.20%</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0.00%</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(229,255,255)">
    <td style="text-align: left; padding-left: 10pt">Net investment loss</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(0.20)%</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0.00%</td><td style="text-align: left">&#160;</td></tr>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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<table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;">
<tr style="vertical-align: top"> <td style="width: 18pt">(a)</td> <td>Net investment loss per share has been calculated based upon an average of daily shares outstanding.</td></tr>
<tr style="vertical-align: top"> <td>(b)</td> <td>The amount shown for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses for the period because of the timing of sales and repurchases of the Trust&#8217;s shares in relation to fluctuating market values of ETH.</td></tr>
<tr style="vertical-align: top"> <td>(c)</td> <td>Returns are not annualized and inc lude adjustments required by GAAP. Returns for financial statements purposes may differ from net asset values and performance reported elsewhere by the Trust.</td></tr>
<tr style="vertical-align: top"> <td>(d)</td> <td>Annualized.</td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of financial highlights. Includes, but is not limited to, per share information, income and expense ratios, total return, capital commitment and fee waiver.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-1<br></p></div>
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<DOCUMENT>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Mar. 31, 2026 </div>
<div>USD ($) </div>
<div>Segment</div>
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<th class="th">
<div>Dec. 31, 2025 </div>
<div>USD ($)</div>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Cash', window );">Cash | $</a></td>
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<td class="nump">$ 0<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NumberOfOperatingSegments', window );">Number of operating segments (in Segment) | Segment</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-4<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-8<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-14<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-11<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477796/946-210-45-21<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 20<br> -SubTopic 210<br> -Topic 946<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477796/946-210-45-20<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Cash</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 49<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-49<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-18<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Significant Accounting Policies - Summary of Fair value Hierarchy (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Mar. 31, 2026</div></th>
<th class="th"><div>Dec. 31, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetFairValue', window );">Investment in ETH</a></td>
<td class="nump">$ 106,794,805<span></span>
</td>
<td class="nump">$ 157,608,454<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Level 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetFairValue', window );">Investment in ETH</a></td>
<td class="nump">106,794,805<span></span>
</td>
<td class="nump">157,608,454<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetFairValue', window );">Investment in ETH</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetFairValue', window );">Investment in ETH</a></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
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<td>xbrli:stringItemType</td>
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<td>na</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CryptoAssetFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value of crypto asset. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476163/350-60-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
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<td></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member</td>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies - Changes in Quantity of ETH and Fair Value (Details)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Mar. 31, 2026 </div>
<div>USD ($) </div>
<div>Ethereum</div>
</th>
<th class="th">
<div>Dec. 31, 2025 </div>
<div>USD ($) </div>
<div>Ethereum</div>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsLineItems', window );"><strong>Significant Accounting Policies - Changes in Quantity of ETH and Fair Value (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_CryptoAssetNumberOfUnitsHeld', window );">Beginning balance (in Ethereum) | Ethereum</a></td>
<td class="nump">53,048.87<span></span>
</td>
<td class="nump">43,935.83<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_CryptoAssetNumberOfUnitsPurchased', window );">ETH purchased (in Ethereum) | Ethereum</a></td>
<td class="nump">14,627.6<span></span>
</td>
<td class="nump">47,219.32<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_CryptoAssetNumberOfUnitsSold', window );">ETH sold (in Ethereum) | Ethereum</a></td>
<td class="num">(16,850.72)<span></span>
</td>
<td class="num">(38,106.28)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating', window );">Net change in unrealized appreciation (depreciation) from investment in ETH</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating', window );">Net change in unrealized appreciation (depreciation) from investment in ETH, Fair Value</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating', window );">Net realized gain on investment in ETH</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating', window );">Net realized gain on investment in ETH, Fair Value</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_CryptoAssetNumberOfUnitsHeld', window );">Ending balance (in Ethereum) | Ethereum</a></td>
<td class="nump">50,825.75<span></span>
</td>
<td class="nump">53,048.87<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=ethv_FairValueMember', window );">Fair Value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsLineItems', window );"><strong>Significant Accounting Policies - Changes in Quantity of ETH and Fair Value (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetFairValue', window );">Beginning balance, Fair Value</a></td>
<td class="nump">$ 157,608,454<span></span>
</td>
<td class="nump">$ 146,428,902<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetPurchase', window );">ETH purchased, Fair Value</a></td>
<td class="nump">34,473,207<span></span>
</td>
<td class="nump">172,013,256<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetSale', window );">ETH sold, Fair Value</a></td>
<td class="num">(40,570,073)<span></span>
</td>
<td class="num">(127,280,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating', window );">Net change in unrealized appreciation (depreciation) from investment in ETH</a></td>
<td class="num">(30,226,986)<span></span>
</td>
<td class="num">(34,062,356)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating', window );">Net change in unrealized appreciation (depreciation) from investment in ETH, Fair Value</a></td>
<td class="num">(30,226,986)<span></span>
</td>
<td class="num">(34,062,356)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating', window );">Net realized gain on investment in ETH</a></td>
<td class="num">(14,489,797)<span></span>
</td>
<td class="nump">508,652<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating', window );">Net realized gain on investment in ETH, Fair Value</a></td>
<td class="num">(14,489,797)<span></span>
</td>
<td class="nump">508,652<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CryptoAssetFairValue', window );">Ending balance, Fair Value</a></td>
<td class="nump">$ 106,794,805<span></span>
</td>
<td class="nump">$ 157,608,454<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ethv_CryptoAssetNumberOfUnitsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of restricted and unrestricted crypto asset units held. Excludes crypto asset units held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_CryptoAssetNumberOfUnitsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ethv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ethv_CryptoAssetNumberOfUnitsPurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of restricted and unrestricted crypto asset units purchased. Excludes crypto asset units held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_CryptoAssetNumberOfUnitsPurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ethv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ethv_CryptoAssetNumberOfUnitsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of restricted and unrestricted crypto asset units sold. Excludes crypto asset units held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_CryptoAssetNumberOfUnitsSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ethv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_SignificantAccountingPoliciesChangesinQuantityofETHandFairValueDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ethv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CryptoAssetFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value of crypto asset. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476163/350-60-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CryptoAssetPurchase">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in crypto asset from purchase. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetPurchase</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of realized gain (loss) from remeasurement of crypto asset, classified as operating and nonoperating. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476163/350-60-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetRealizedGainLossOperatingAndNonoperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CryptoAssetSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in crypto asset from sale. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476162/350-60-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of unrealized gain (loss) from remeasurement of crypto asset, classified as operating and nonoperating. Excludes crypto asset held for platform user.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476163/350-60-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CryptoAssetUnrealizedGainLossOperatingAndNonoperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentTypeAxis=ethv_EthereumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentTypeAxis=ethv_EthereumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentTypeAxis=ethv_FairValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentTypeAxis=ethv_FairValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<html>
<head>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Trust Expenses and Other Agreements (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 22, 2024</div></th>
<th class="th"><div>Mar. 31, 2026</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
<th class="th"><div>Jul. 22, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_TrustExpensesAndOtherAgreementsAbstract', window );"><strong>Trust Expenses and Other Agreements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_SponsorFeeAtMonthlyRateOfAverageDailyNetAssets', window );">Sponsor fees at monthly rate of average daily net assets</a></td>
<td class="nump">0.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SponsorFees', window );">Sponsor fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 63,630<span></span>
</td>
<td class="nump">$ 60,908<span></span>
</td>
<td class="nump">$ 1,500,000,000<span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage amount paid to the sponsor for management of the day-to-day business functions of the LLC or LP including the fee rate, basis of calculation, relevant accounting period, whether the fee is paid to an entity other than the managing average daily net assets, or whether the fee is waived.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_SponsorFeeAtMonthlyRateOfAverageDailyNetAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:percentItemType</td>
</tr>
<tr>
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<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ethv_TrustExpensesAndOtherAgreementsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_TrustExpensesAndOtherAgreementsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ethv_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SponsorFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fees paid to advisors who provide certain management support and administrative oversight services including the organization and sale of stock, investment funds, limited partnerships and mutual funds.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SponsorFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Related Parties (Details)<br></strong></div></th>
<th class="th"><div>Mar. 31, 2026</div></th>
</tr>
<tr class="rh">
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Parties [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Minority interest percentage</a></td>
<td class="nump">1.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The parent entity's interest in net assets of the subsidiary, expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestOwnershipPercentageByParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(7)(e)(1)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(g)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 970<br> -SubTopic 810<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477383/970-810-45-1<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-3<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-13<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<tr>
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<td>na</td>
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<tr>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=ethv_VanEckSecuritiesCorporationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=ethv_VanEckSecuritiesCorporationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
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<head>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Capital Share Transactions (Details)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th">
<div>Mar. 31, 2026 </div>
<div>shares</div>
</th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SubsidiarySaleOfStockAxis=ethv_SecondaryMarketMember', window );">Secondary Market [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems', window );"><strong>Capital Share Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction', window );">Trust shares authorized (in Shares)</a></td>
<td class="nump">25,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued or sold by the subsidiary or equity method investee per stock transaction.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiarySaleOfStockAxis=ethv_SecondaryMarketMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Capital Share Transactions - Share and Capital Activity (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2026</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems', window );"><strong>Capital Share Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Beginning of period (in Shares)</a></td>
<td class="nump">3,625,000<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Beginning of period</a></td>
<td class="nump">$ 182,710,597<span></span>
</td>
<td class="nump">$ 137,801,504<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Shares issued (in Shares)</a></td>
<td class="nump">1,000,000<span></span>
</td>
<td class="nump">225,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Shares issued</a></td>
<td class="nump">$ 34,473,179<span></span>
</td>
<td class="nump">$ 9,957,156<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRedeemedOrCalledDuringPeriodShares', window );">Shares redeemed (in Shares)</a></td>
<td class="num">(1,150,000)<span></span>
</td>
<td class="num">(75,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRedeemedOrCalledDuringPeriodValue', window );">Shares redeemed</a></td>
<td class="num">$ (40,496,007)<span></span>
</td>
<td class="num">$ (2,207,029)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">End of period (in Shares)</a></td>
<td class="nump">3,475,000<span></span>
</td>
<td class="nump">3,150,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">End of period</a></td>
<td class="nump">$ 176,687,769<span></span>
</td>
<td class="nump">$ 145,551,631<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued which are neither cancelled nor held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1<br><br>Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1<br><br>Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480657/210-10-S50-11<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1<br><br>Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-11<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480657/210-10-S50-11<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478009/946-205-45-4<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRedeemedOrCalledDuringPeriodShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of stock bought back by the entity at the exercise price or redemption price.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRedeemedOrCalledDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRedeemedOrCalledDuringPeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of stock bought back by the entity at the exercise price or redemption price.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480100/505-10-S45-2<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480657/210-10-S50-11<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRedeemedOrCalledDuringPeriodValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.6-05(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(6))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480418/310-10-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiaryOrEquityMethodInvesteeLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Financial Highlights - Summary of Financial Highlights (Details) - $ / shares<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2026</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyFinancialHighlightsLineItems', window );"><strong>Financial Highlights [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetAssetValuePerShare', window );">Net asset value per share, beginning of period (in Dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 43.47<span></span>
</td>
<td class="nump">$ 48.81<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShareAbstract', window );"><strong>From investment operations:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare', window );">Net investment loss (in Dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(0.02)<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments', window );">Net realized loss and change in unrealized appreciation (depreciation) from investments in ether (in Dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(12.72)<span></span>
</td>
<td class="num">(21.93)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease', window );">Net decrease resulting from operations (in Dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(12.74)<span></span>
</td>
<td class="num">(21.93)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetAssetValuePerShare', window );">Net asset value per share, end of period (in Dollars per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 30.73<span></span>
</td>
<td class="nump">$ 26.88<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyTotalReturn', window );">Total return</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(29.31%)<span></span>
</td>
<td class="num">(44.93%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyFinancialRatiosAbstract', window );"><strong>Ratios to average net assets(d)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyExpenseRatioExcludingIncentiveFee', window );">Expenses before fee waiver</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">0.20%<span></span>
</td>
<td class="nump">0.20%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyExpenseRatioIncludingIncentiveFee', window );">Expenses after fee waiver</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">0.20%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentCompanyInvestmentIncomeLossRatio', window );">Net investment loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="num">(0.20%)<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Net investment loss per share has been calculated based upon an average of daily shares outstanding.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">The amount shown for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses for the period because of the timing of sales and repurchases of the Trust&#8217;s shares in relation to fluctuating market values of ETH.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Returns are not annualized and include adjustments required by GAAP. Returns for financial statements purposes may differ from net asset values and performance reported elsewhere by the Trust.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">Annualized.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net realized gain (loss) and change in unrealized appreciation (depreciation) from investments in either.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ethv_NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ethv_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyExpenseRatioExcludingIncentiveFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage, after deduction of fee waiver and before deduction of incentive fee, of expense to average net assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-13<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyExpenseRatioExcludingIncentiveFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyExpenseRatioIncludingIncentiveFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage, after deduction of fee waiver and incentive fee, of expense to average net assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-14<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyExpenseRatioIncludingIncentiveFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyFinancialHighlightsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (g)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (h)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 27<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-27<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-2<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyFinancialHighlightsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyFinancialRatiosAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyFinancialRatiosAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Per share or unit amount of investment income (loss) and realized and unrealized gain (loss) on investment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyInvestmentIncomeLossFromOperationsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyInvestmentIncomeLossRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of investment income (loss) to average net assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-10<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyInvestmentIncomeLossRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Per-share or unit amount of increase (decrease) in net asset value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentCompanyTotalReturn">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage increase (decrease) in fund net asset value, assuming reinvestment of dividends and capital gain distributions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 27<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-27<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480990/946-20-50-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-18<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net asset value per share or per unit of investments in certain entities that calculate net asset value per share. Includes, but is not limited to, by unit, membership interest, or other ownership interest. Investment includes, but is not limited to, investment in certain hedge funds, venture capital funds, private equity funds, real estate partnerships or funds. Excludes fair value disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477796/946-210-45-4<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (h)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478494/946-205-50-7<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.6-05(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2<br></p></div>
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    <us-gaap:NatureOfOperations contextRef="c0" id="ixv-1272">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;Note 1. Organization:&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;VanEck Ethereum ETF (the &#x201c;Trust&#x201d;),
a Delaware statutory trust, is an exchange-traded fund that issues common shares of beneficial interest in an ownership of the
Trust (the &#x201c;Shares&#x201d;). The Shares are traded on the Cboe BZX Exchange, Inc. (the &#x201c;Exchange&#x201d;). The Trust&#x2019;s
investment objective is to reflect the performance of the price of ether (&#x201c;ETH&#x201d;) less the net operating expenses of
the Trust. The Trust is managed and controlled by VanEck Digital Assets, LLC (the &#x201c;Sponsor&#x201d;), a wholly-owned subsidiary
of Van Eck Associates Corporation (&#x201c;VanEck&#x201d;). The CSC Delaware Trust Company is the &#x201c;Trustee&#x201d; of the Trust.&lt;/p&gt;</us-gaap:NatureOfOperations>
    <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="c0" id="ixv-1280">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;Note 2. Significant Accounting Policies:&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;A.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Basis of Preparation and Use of Estimates&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The preparation of financial statements
in conformity with U.S. generally accepted accounting principles (&#x201c;GAAP&#x201d;) requires management to make estimates and
assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those
estimates.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Trust qualifies as an investment
company solely for accounting purposes and not for any other purpose and follows accounting and reporting requirements of Accounting
Standards Codification (&#x201c;ASC&#x201d;) Topic 946 Financial Services&#x2014;Investment Companies&lt;i&gt; &lt;/i&gt;(&#x201c;ASC Topic 946&#x201d;)&lt;i&gt;,
&lt;/i&gt;but is not registered, and is not required to be registered, as an investment company under the Investment Company Act of
1940, as amended.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;B.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Cash&lt;/i&gt; &lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;Cash, if any, represents cash
deposits held at a major financial institution and is subject to credit risk to the extent its balance exceeds the federally insured
limits. As of March 31, 2026 and December 31, 2025, the Trust did not hold cash.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;C.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Investment Valuation&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Trust values its investment
in ETH and other assets and liabilities at fair value. Fair value is the price that would be received to sell an asset or paid
to transfer a liability in an orderly transaction between market participants on the measurement date.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Trust identifies and determines
the ETH principal market (or in the absence of a principal market, the most advantageous market) for GAAP financial statement
purposes consistent with the application of fair value measurement framework in Financial Accounting Standards Board (&#x201c;FASB&#x201d;)
ASC 820 at 11:59 p.m. EST. Under ASC 820, a principal market is the market with the greatest volume and activity level for the
asset or liability. The Sponsor on behalf of the Trust will determine in its sole discretion the valuation sources and policies
used to prepare the Trust&#x2019;s financial statements in accordance with GAAP.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;Various inputs are used in determining
the fair value of assets and liabilities. Inputs may be based on independent market data or they may be internally developed.
These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The
three levels of the fair value hierarchy are as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;Level 1 &#x2013; Unadjusted quoted prices
in active markets for identical assets or liabilities;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;Level 2 &#x2013; Inputs other than
quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including
quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities
in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability,
and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;Level 3 &#x2013; Unobservable
inputs where there are little or no market activity for the asset or liability, including the Trust&#x2019;s assumptions used in
determining the fair value of investments.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;The following is a summary of the fair value
hierarchy as of March 31, 2026, and December 31, 2025:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;March 31, 2026&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 1&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 2&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 3&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;Assets&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="width: 36pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 3px; padding-left: 10pt"&gt;Investment in ETH&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;106,794,805&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;106,794,805&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;December 31, 2025&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 1&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 2&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 3&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;Assets&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 3px; padding-left: 10pt"&gt;Investment in ETH&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;157,608,454&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;157,608,454&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;The following represents the changes in quantity
of ETH and the respective fair value:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;ETH&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;Fair
    Value&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="width: 36pt; background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 1px; text-indent: 0pt"&gt;Beginning balance as of January 1, 2026&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;53,048.87&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;157,608,454&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH purchased&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;14,627.60&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;34,473,207&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH sold&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(16,850.72)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(40,570,073)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Net change in unrealized appreciation (depreciation) from investment in ETH&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(30,226,986)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1px; text-indent: 0pt"&gt;Net realized loss on investment in ETH&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(14,489,797)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 3px; text-indent: 0pt"&gt;Ending balance as of March 31, 2026&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;50,825.75&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;106,794,805&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;

&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;ETH&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;Fair
    Value&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="width: 36pt; background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 1px; text-indent: 0pt"&gt;Beginning balance as of January 1, 2025&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;43,935.83&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;146,428,902&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH purchased&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;47,219.32&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;172,013,256&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH sold&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(38,106.28)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(127,280,000)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Net change in unrealized appreciation (depreciation) from investment in ETH&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(34,062,356)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1px; text-indent: 0pt"&gt;Net realized gain on investment in ETH&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;508,652&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 3px; text-indent: 0pt"&gt;Ending balance as of December 31, 2025&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;53,048.87&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;157,608,454&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;

&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;D.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Ether&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;ETH transactions are accounted
for on trade date. Realized gains and losses on the sale of ETH are determined based on the average cost method. Under ASC Topic
946, the average cost method is an accepted method to determine realized gains and losses on the sale of ETH. Proceeds received
by the Trust from the issuance of baskets consist of ETH. Deposits of ETH are held by Gemini Trust Company, LLC (the &#x201c;ETH
Custodian&#x201d;) and at Coinbase Custody Trust Company, LLC (the &#x201c;Additional ETH Custodian&#x201d;, and collectively the
&#x201c;ETH Custodians&#x201d;), on behalf of the Trust until (i) delivered out in connection with redemptions of baskets or cash
or (ii) sold by the Sponsor, which may be facilitated by the ETH Custodians, to pay fees due to the Sponsor and Trust expenses
and liabilities not assumed by the Sponsor.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;E.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Calculation of Net Asset Value&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Trust&#x2019;s net asset value
(&#x201c;NAV&#x201d;) is calculated based on the Trust&#x2019;s net asset holdings, as reconciled to the ETH Custodians&#x2019; accounts,
on a market approach determined on a daily basis using the MarketVector&lt;sup&gt;TM&lt;/sup&gt; Ethereum Benchmark Rate price at 4:00 pm
EST. The Trust&#x2019;s NAV per Share is calculated by taking the current market value of its total assets, subtracting any liabilities,
and then dividing that total by the total number of outstanding Shares. The Trust Agreement gives the Sponsor the exclusive authority
to determine the Trust&#x2019;s NAV and the Trust&#x2019;s NAV per Share, which it has delegated to the Administrator.&lt;/p&gt;&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;F.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Federal Income Taxes&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Trust is treated as a grantor
trust for federal income tax purposes and, therefore, no provision for federal income taxes is required. Any interest, expenses,
gains and losses are passed through to the holders of Shares of the Trust. The Sponsor has reviewed the tax positions for the
periods presented and has determined that no provision for income tax is required in the Trust&#x2019;s financial statements.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;G.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Segment Reporting&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Chief Financial Officer and
Treasurer of the Sponsor acts as the Trust&#x2019;s chief operating decision maker (&#x201c;CODM&#x201d;), assessing performance
and making decisions about resource allocation. The CODM has determined that the Trust has a &lt;span style="-sec-ix-hidden: hidden-fact-2"&gt;single&lt;/span&gt; operating segment based on
the fact that the Trust&#x2019;s long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus,
with a defined investment strategy which is executed by the Sponsor.&lt;span style="color: #03871A"&gt; &lt;/span&gt;The financial information
provided to and reviewed by the CODM is presented within the Trust&#x2019;s financial statements.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;H.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Interim financial statements&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The financial statements included
herein were prepared without audit according to the rules and regulations of the Securities and Exchange Commission. Certain information
and footnote disclosures normally included in financial statements prepared in accordance with GAAP may be omitted pursuant to
such rules and regulations. The financial statements reflect, in the opinion of management, all adjustments necessary that were
of a normal and recurring nature and adequate disclosures to present fairly the financial position and results of operations as
of and for the periods indicated. The results of operations for the three months ended March 31, 2026 and 2025, are not necessarily
indicative of the results to be expected for the full year or for any other period.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;These financial statements should
be read in conjunction with the audited financial statements and the notes thereto included in the Form 10-K previously filed
with the SEC.&lt;/p&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
    <us-gaap:BasisOfAccountingPolicyPolicyTextBlock contextRef="c0" id="ixv-1284">&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;A.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Basis of Preparation and Use of Estimates&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The preparation of financial statements
in conformity with U.S. generally accepted accounting principles (&#x201c;GAAP&#x201d;) requires management to make estimates and
assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those
estimates.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Trust qualifies as an investment
company solely for accounting purposes and not for any other purpose and follows accounting and reporting requirements of Accounting
Standards Codification (&#x201c;ASC&#x201d;) Topic 946 Financial Services&#x2014;Investment Companies&lt;i&gt; &lt;/i&gt;(&#x201c;ASC Topic 946&#x201d;)&lt;i&gt;,
&lt;/i&gt;but is not registered, and is not required to be registered, as an investment company under the Investment Company Act of
1940, as amended.&lt;/p&gt;</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
    <us-gaap:UseOfEstimates contextRef="c0" id="ixv-1285">&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;A.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Basis of Preparation and Use of Estimates&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The preparation of financial statements
in conformity with U.S. generally accepted accounting principles (&#x201c;GAAP&#x201d;) requires management to make estimates and
assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those
estimates.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Trust qualifies as an investment
company solely for accounting purposes and not for any other purpose and follows accounting and reporting requirements of Accounting
Standards Codification (&#x201c;ASC&#x201d;) Topic 946 Financial Services&#x2014;Investment Companies&lt;i&gt; &lt;/i&gt;(&#x201c;ASC Topic 946&#x201d;)&lt;i&gt;,
&lt;/i&gt;but is not registered, and is not required to be registered, as an investment company under the Investment Company Act of
1940, as amended.&lt;/p&gt;</us-gaap:UseOfEstimates>
    <us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="c0" id="ixv-1302">&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;B.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Cash&lt;/i&gt; &lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;Cash, if any, represents cash
deposits held at a major financial institution and is subject to credit risk to the extent its balance exceeds the federally insured
limits. As of March 31, 2026 and December 31, 2025, the Trust did not hold cash.&lt;/p&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
    <us-gaap:Cash contextRef="c2" decimals="0" id="ixv-3098" unitRef="usd">0</us-gaap:Cash>
    <us-gaap:Cash contextRef="c3" decimals="0" id="ixv-3099" unitRef="usd">0</us-gaap:Cash>
    <us-gaap:FairValueMeasurementPolicyPolicyTextBlock contextRef="c0" id="ixv-1312">&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;C.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Investment Valuation&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Trust values its investment
in ETH and other assets and liabilities at fair value. Fair value is the price that would be received to sell an asset or paid
to transfer a liability in an orderly transaction between market participants on the measurement date.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Trust identifies and determines
the ETH principal market (or in the absence of a principal market, the most advantageous market) for GAAP financial statement
purposes consistent with the application of fair value measurement framework in Financial Accounting Standards Board (&#x201c;FASB&#x201d;)
ASC 820 at 11:59 p.m. EST. Under ASC 820, a principal market is the market with the greatest volume and activity level for the
asset or liability. The Sponsor on behalf of the Trust will determine in its sole discretion the valuation sources and policies
used to prepare the Trust&#x2019;s financial statements in accordance with GAAP.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;Various inputs are used in determining
the fair value of assets and liabilities. Inputs may be based on independent market data or they may be internally developed.
These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The
three levels of the fair value hierarchy are as follows:&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;Level 1 &#x2013; Unadjusted quoted prices
in active markets for identical assets or liabilities;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;Level 2 &#x2013; Inputs other than
quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including
quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities
in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability,
and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;Level 3 &#x2013; Unobservable
inputs where there are little or no market activity for the asset or liability, including the Trust&#x2019;s assumptions used in
determining the fair value of investments.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;The following is a summary of the fair value
hierarchy as of March 31, 2026, and December 31, 2025:&lt;/p&gt;&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;March 31, 2026&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 1&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 2&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 3&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;Assets&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="width: 36pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 3px; padding-left: 10pt"&gt;Investment in ETH&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;106,794,805&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;106,794,805&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;December 31, 2025&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 1&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 2&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 3&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;Assets&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 3px; padding-left: 10pt"&gt;Investment in ETH&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;157,608,454&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;157,608,454&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;The following represents the changes in quantity
of ETH and the respective fair value:&lt;/p&gt;&lt;table cellpadding="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;ETH&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;Fair
    Value&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="width: 36pt; background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 1px; text-indent: 0pt"&gt;Beginning balance as of January 1, 2026&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;53,048.87&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;157,608,454&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH purchased&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;14,627.60&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;34,473,207&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH sold&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(16,850.72)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(40,570,073)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Net change in unrealized appreciation (depreciation) from investment in ETH&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(30,226,986)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1px; text-indent: 0pt"&gt;Net realized loss on investment in ETH&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(14,489,797)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 3px; text-indent: 0pt"&gt;Ending balance as of March 31, 2026&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;50,825.75&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;106,794,805&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;

&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;ETH&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;Fair
    Value&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="width: 36pt; background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 1px; text-indent: 0pt"&gt;Beginning balance as of January 1, 2025&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;43,935.83&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;146,428,902&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH purchased&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;47,219.32&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;172,013,256&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH sold&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(38,106.28)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(127,280,000)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Net change in unrealized appreciation (depreciation) from investment in ETH&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(34,062,356)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1px; text-indent: 0pt"&gt;Net realized gain on investment in ETH&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;508,652&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 3px; text-indent: 0pt"&gt;Ending balance as of December 31, 2025&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;53,048.87&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;157,608,454&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</us-gaap:FairValueMeasurementPolicyPolicyTextBlock>
    <us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock contextRef="c0" id="ixv-1361">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;The following is a summary of the fair value
hierarchy as of March 31, 2026, and December 31, 2025:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;March 31, 2026&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 1&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 2&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 3&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;Assets&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="width: 36pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 3px; padding-left: 10pt"&gt;Investment in ETH&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;106,794,805&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 3px double; text-align: right"&gt;106,794,805&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;December 31, 2025&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 1&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 2&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Level 3&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold"&gt;Assets&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 3px; padding-left: 10pt"&gt;Investment in ETH&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;157,608,454&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;157,608,454&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock>
    <us-gaap:CryptoAssetFairValue contextRef="c8" decimals="0" id="ixv-3100" unitRef="usd">106794805</us-gaap:CryptoAssetFairValue>
    <us-gaap:CryptoAssetFairValue contextRef="c9" decimals="0" id="ixv-3101" unitRef="usd">0</us-gaap:CryptoAssetFairValue>
    <us-gaap:CryptoAssetFairValue contextRef="c10" decimals="0" id="ixv-3102" unitRef="usd">0</us-gaap:CryptoAssetFairValue>
    <us-gaap:CryptoAssetFairValue contextRef="c2" decimals="0" id="ixv-3103" unitRef="usd">106794805</us-gaap:CryptoAssetFairValue>
    <us-gaap:CryptoAssetFairValue contextRef="c11" decimals="0" id="ixv-3104" unitRef="usd">157608454</us-gaap:CryptoAssetFairValue>
    <us-gaap:CryptoAssetFairValue contextRef="c12" decimals="0" id="ixv-3105" unitRef="usd">0</us-gaap:CryptoAssetFairValue>
    <us-gaap:CryptoAssetFairValue contextRef="c13" decimals="0" id="ixv-3106" unitRef="usd">0</us-gaap:CryptoAssetFairValue>
    <us-gaap:CryptoAssetFairValue contextRef="c3" decimals="0" id="ixv-3107" unitRef="usd">157608454</us-gaap:CryptoAssetFairValue>
    <ethv:ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock contextRef="c0" id="ixv-1493">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;The following represents the changes in quantity
of ETH and the respective fair value:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;ETH&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;Fair
    Value&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="width: 36pt; background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 1px; text-indent: 0pt"&gt;Beginning balance as of January 1, 2026&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;53,048.87&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;157,608,454&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH purchased&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;14,627.60&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;34,473,207&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH sold&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(16,850.72)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(40,570,073)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Net change in unrealized appreciation (depreciation) from investment in ETH&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(30,226,986)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1px; text-indent: 0pt"&gt;Net realized loss on investment in ETH&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(14,489,797)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 3px; text-indent: 0pt"&gt;Ending balance as of March 31, 2026&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;50,825.75&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;106,794,805&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;

&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;ETH&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1px solid"&gt;&lt;span style="font-size: 8pt"&gt;Fair
    Value&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="width: 36pt; background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 1px; text-indent: 0pt"&gt;Beginning balance as of January 1, 2025&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;43,935.83&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 2%; padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 10%; border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;146,428,902&lt;/span&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH purchased&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;47,219.32&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;172,013,256&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: 0pt"&gt;ETH sold&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(38,106.28)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(127,280,000)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Net change in unrealized appreciation (depreciation) from investment in ETH&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;(34,062,356)&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="background-color: White"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1px; text-indent: 0pt"&gt;Net realized gain on investment in ETH&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;508,652&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; font-weight: bold; font-style: normal; padding-bottom: 3px; text-indent: 0pt"&gt;Ending balance as of December 31, 2025&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;53,048.87&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;$&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;157,608,454&lt;/span&gt;&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="font-size: 10pt; text-indent: 0pt"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;span style="font-size: 8pt"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</ethv:ChangesInQuantityOfEtherAndRespectiveFairValueTableTextBlock>
    <ethv:CryptoAssetNumberOfUnitsHeld
      contextRef="c14"
      decimals="2"
      id="ixv-3108"
      unitRef="Ethereum">53048.87</ethv:CryptoAssetNumberOfUnitsHeld>
    <us-gaap:CryptoAssetFairValue contextRef="c15" decimals="0" id="ixv-3109" unitRef="usd">157608454</us-gaap:CryptoAssetFairValue>
    <ethv:CryptoAssetNumberOfUnitsPurchased
      contextRef="c16"
      decimals="2"
      id="ixv-3110"
      unitRef="Ethereum">14627.6</ethv:CryptoAssetNumberOfUnitsPurchased>
    <us-gaap:CryptoAssetPurchase contextRef="c17" decimals="0" id="ixv-3111" unitRef="usd">34473207</us-gaap:CryptoAssetPurchase>
    <ethv:CryptoAssetNumberOfUnitsSold
      contextRef="c16"
      decimals="2"
      id="ixv-3112"
      unitRef="Ethereum">-16850.72</ethv:CryptoAssetNumberOfUnitsSold>
    <us-gaap:CryptoAssetSale contextRef="c17" decimals="0" id="ixv-3113" unitRef="usd">40570073</us-gaap:CryptoAssetSale>
    <us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating contextRef="c16" decimals="0" id="ixv-3114" unitRef="usd">0</us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating>
    <us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating contextRef="c17" decimals="0" id="ixv-3115" unitRef="usd">-30226986</us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating>
    <us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating contextRef="c16" decimals="0" id="ixv-3116" unitRef="usd">0</us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating>
    <us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating contextRef="c17" decimals="0" id="ixv-3117" unitRef="usd">-14489797</us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating>
    <ethv:CryptoAssetNumberOfUnitsHeld
      contextRef="c18"
      decimals="2"
      id="ixv-3118"
      unitRef="Ethereum">50825.75</ethv:CryptoAssetNumberOfUnitsHeld>
    <us-gaap:CryptoAssetFairValue contextRef="c19" decimals="0" id="ixv-3119" unitRef="usd">106794805</us-gaap:CryptoAssetFairValue>
    <ethv:CryptoAssetNumberOfUnitsHeld
      contextRef="c20"
      decimals="2"
      id="ixv-3120"
      unitRef="Ethereum">43935.83</ethv:CryptoAssetNumberOfUnitsHeld>
    <us-gaap:CryptoAssetFairValue contextRef="c21" decimals="0" id="ixv-3121" unitRef="usd">146428902</us-gaap:CryptoAssetFairValue>
    <ethv:CryptoAssetNumberOfUnitsPurchased
      contextRef="c22"
      decimals="2"
      id="ixv-3122"
      unitRef="Ethereum">47219.32</ethv:CryptoAssetNumberOfUnitsPurchased>
    <us-gaap:CryptoAssetPurchase contextRef="c23" decimals="0" id="ixv-3123" unitRef="usd">172013256</us-gaap:CryptoAssetPurchase>
    <ethv:CryptoAssetNumberOfUnitsSold
      contextRef="c22"
      decimals="2"
      id="ixv-3124"
      unitRef="Ethereum">-38106.28</ethv:CryptoAssetNumberOfUnitsSold>
    <us-gaap:CryptoAssetSale contextRef="c23" decimals="0" id="ixv-3125" unitRef="usd">127280000</us-gaap:CryptoAssetSale>
    <us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating contextRef="c22" decimals="0" id="ixv-3126" unitRef="usd">0</us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating>
    <us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating contextRef="c23" decimals="0" id="ixv-3127" unitRef="usd">-34062356</us-gaap:CryptoAssetUnrealizedGainLossOperatingAndNonoperating>
    <us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating contextRef="c22" decimals="0" id="ixv-3128" unitRef="usd">0</us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating>
    <us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating contextRef="c23" decimals="0" id="ixv-3129" unitRef="usd">508652</us-gaap:CryptoAssetRealizedGainLossOperatingAndNonoperating>
    <ethv:CryptoAssetNumberOfUnitsHeld
      contextRef="c14"
      decimals="2"
      id="ixv-3130"
      unitRef="Ethereum">53048.87</ethv:CryptoAssetNumberOfUnitsHeld>
    <us-gaap:CryptoAssetFairValue contextRef="c15" decimals="0" id="ixv-3131" unitRef="usd">157608454</us-gaap:CryptoAssetFairValue>
    <ethv:EthereumPolicyTextBlock contextRef="c0" id="ixv-1763">&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;D.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Ether&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;ETH transactions are accounted
for on trade date. Realized gains and losses on the sale of ETH are determined based on the average cost method. Under ASC Topic
946, the average cost method is an accepted method to determine realized gains and losses on the sale of ETH. Proceeds received
by the Trust from the issuance of baskets consist of ETH. Deposits of ETH are held by Gemini Trust Company, LLC (the &#x201c;ETH
Custodian&#x201d;) and at Coinbase Custody Trust Company, LLC (the &#x201c;Additional ETH Custodian&#x201d;, and collectively the
&#x201c;ETH Custodians&#x201d;), on behalf of the Trust until (i) delivered out in connection with redemptions of baskets or cash
or (ii) sold by the Sponsor, which may be facilitated by the ETH Custodians, to pay fees due to the Sponsor and Trust expenses
and liabilities not assumed by the Sponsor.&lt;/p&gt;</ethv:EthereumPolicyTextBlock>
    <us-gaap:EarningsPerSharePolicyTextBlock contextRef="c0" id="ixv-1773">&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;E.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Calculation of Net Asset Value&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Trust&#x2019;s net asset value
(&#x201c;NAV&#x201d;) is calculated based on the Trust&#x2019;s net asset holdings, as reconciled to the ETH Custodians&#x2019; accounts,
on a market approach determined on a daily basis using the MarketVector&lt;sup&gt;TM&lt;/sup&gt; Ethereum Benchmark Rate price at 4:00 pm
EST. The Trust&#x2019;s NAV per Share is calculated by taking the current market value of its total assets, subtracting any liabilities,
and then dividing that total by the total number of outstanding Shares. The Trust Agreement gives the Sponsor the exclusive authority
to determine the Trust&#x2019;s NAV and the Trust&#x2019;s NAV per Share, which it has delegated to the Administrator.&lt;/p&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
    <us-gaap:IncomeTaxPolicyTextBlock contextRef="c0" id="ixv-1808">&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;F.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Federal Income Taxes&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Trust is treated as a grantor
trust for federal income tax purposes and, therefore, no provision for federal income taxes is required. Any interest, expenses,
gains and losses are passed through to the holders of Shares of the Trust. The Sponsor has reviewed the tax positions for the
periods presented and has determined that no provision for income tax is required in the Trust&#x2019;s financial statements.&lt;/p&gt;</us-gaap:IncomeTaxPolicyTextBlock>
    <us-gaap:SegmentReportingPolicyPolicyTextBlock contextRef="c0" id="ixv-1818">&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;G.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Segment Reporting&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The Chief Financial Officer and
Treasurer of the Sponsor acts as the Trust&#x2019;s chief operating decision maker (&#x201c;CODM&#x201d;), assessing performance
and making decisions about resource allocation. The CODM has determined that the Trust has a &lt;span style="-sec-ix-hidden: hidden-fact-2"&gt;single&lt;/span&gt; operating segment based on
the fact that the Trust&#x2019;s long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus,
with a defined investment strategy which is executed by the Sponsor.&lt;span style="color: #03871A"&gt; &lt;/span&gt;The financial information
provided to and reviewed by the CODM is presented within the Trust&#x2019;s financial statements.&lt;/p&gt;</us-gaap:SegmentReportingPolicyPolicyTextBlock>
    <ethv:InterimFinancialStatementsPolicyTextBlock contextRef="c0" id="ixv-1830">&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 36pt"&gt;H.&lt;/td&gt; &lt;td&gt;&lt;i&gt;Interim financial statements&lt;/i&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;The financial statements included
herein were prepared without audit according to the rules and regulations of the Securities and Exchange Commission. Certain information
and footnote disclosures normally included in financial statements prepared in accordance with GAAP may be omitted pursuant to
such rules and regulations. The financial statements reflect, in the opinion of management, all adjustments necessary that were
of a normal and recurring nature and adequate disclosures to present fairly the financial position and results of operations as
of and for the periods indicated. The results of operations for the three months ended March 31, 2026 and 2025, are not necessarily
indicative of the results to be expected for the full year or for any other period.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-align: justify"&gt;These financial statements should
be read in conjunction with the audited financial statements and the notes thereto included in the Form 10-K previously filed
with the SEC.&lt;/p&gt;</ethv:InterimFinancialStatementsPolicyTextBlock>
    <ethv:TrustExpensesandOtherAgreementsTextBlock contextRef="c0" id="ixv-1845">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;Note 3. Trust Expenses and Other Agreements&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Trust pays the Sponsor a unified fee
(the &#x201c;Sponsor Fee&#x201d;) of 0.20% of average daily net assets that accrues daily and pays monthly. For the period from
July 23, 2024 through July 22, 2025, the Sponsor waived the entire Sponsor Fee for the first $1.5 billion of the Trust&#x2019;s
net assets. The Sponsor has agreed to pay all operating expenses (except for litigation expenses and other extraordinary expenses)
from the Sponsor Fee. The Sponsor from time to time will sell ETH, which may be facilitated by one or more liquidity providers
and/or the ETH Custodians, in such quantity as is necessary to permit payment of the Sponsor Fee and Trust expenses and liabilities
not assumed by the Sponsor.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Trustee fee is paid by the Sponsor
and is not an expense of the Trust.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Trust holds its ETH at the ETH Custodian
and at the Additional ETH Custodian, both of which are regulated third-party custodians that carry insurance (in the case of the
Additional ETH Custodian, such insurance is carried by its parent, Coinbase Inc., and is intended to cover the loss of client
assets held by Coinbase Inc. and its subsidiaries, including the Additional ETH Custodian) and are responsible for safekeeping
of ETH owned by the Trust and holding private keys that provide access to the ETH in the Trust&#x2019;s ETH account.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;State Street Bank and Trust Company serves as the Trust&#x2019;s
administrator, transfer agent and cash custodian.&lt;/p&gt;</ethv:TrustExpensesandOtherAgreementsTextBlock>
    <ethv:SponsorFeeAtMonthlyRateOfAverageDailyNetAssets contextRef="c24" decimals="4" id="ixv-3132" unitRef="pure">0.002</ethv:SponsorFeeAtMonthlyRateOfAverageDailyNetAssets>
    <us-gaap:SponsorFees contextRef="c25" decimals="-8" id="ixv-3133" unitRef="usd">1500000000</us-gaap:SponsorFees>
    <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="c0" id="ixv-1859">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;Note 4. Related Parties&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;The Sponsor is considered to be a related party to the Trust.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;MarketVector Indexes GmbH is the index
sponsor and index administrator for the MarketVector Ethereum Benchmark Rate, which is used by the Trust to determine its NAV.
MarketVector Indexes GmbH is an indirectly wholly-owned subsidiary of VanEck.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;Van Eck Securities Corporation, a marketing agent to the Trust,
is a wholly-owned subsidiary of VanEck.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;VanEck is a minority interest holder in
the parent company of the ETH Custodian, representing less than 1% of its equity.&lt;/p&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
    <us-gaap:MinorityInterestOwnershipPercentageByParent
      contextRef="c26"
      decimals="INF"
      id="ixv-3134"
      unitRef="pure">0.01</us-gaap:MinorityInterestOwnershipPercentageByParent>
    <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="c0" id="ixv-1897">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;Note 5. Capital Share Transactions&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Investors can buy and sell Shares of the
Trust in secondary market transactions through brokers. Shares trade on the Exchange under the ticker symbol ETHV. Shares are
bought and sold throughout the trading day like other publicly traded securities.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Trust continuously offers the Shares
in baskets consisting of 25,000 Shares to authorized participants. Authorized participants pay a transaction fee for each order
they place to create or redeem one or more baskets. The Administrator calculates the cost to purchase (or sell in the case of
a redemption order) the amount of ETH represented by the baskets being created (or redeemed); the amount of ETH represented is
equal to the combined NAV of the number of Shares included in the baskets being created (or redeemed).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Trust creates and redeems Shares, but
only in one or more baskets. Baskets are only made in exchange for delivery to the Trust or the distribution by the Trust of the
amount of ETH represented by the baskets being created or redeemed, the amount of which is equal to the combined NAV of the number
of Shares included in the baskets being created or redeemed determined as of 4:00 p.m. EST on the day the order to create or redeem
baskets is properly received. The authorized participants deliver cash or ETH to create baskets and receive cash or ETH when redeeming
Shares. For a subscription in cash, an authorized participant will deliver cash to the Trust&#x2019;s account at the cash custodian,
which the Sponsor will then use to purchase ETH from a liquidity provider chosen by the Sponsor. For a redemption in cash, the
Sponsor will arrange for the ETH represented by the basket to be sold to a liquidity provider chosen by the Sponsor and the cash
proceeds distributed from the Trust&#x2019;s account at the cash custodian to the authorized participant. For an &#x201c;in-kind&#x201d;
subscription, authorized participants will deliver, or arrange for the delivery by the authorized participant&#x2019;s designee
of, ETH to the Trust&#x2019;s account with the ETH Custodian or Additional ETH Custodian in exchange for Shares when they purchase
Shares. For an &#x201c;in-kind&#x201d; redemption transaction with the Trust, when authorized participants redeem Shares, the Trust
through the ETH Custodian or the Additional ETH Custodian, will deliver ETH to such authorized participants, or a designee thereof,
in exchange for their Shares. Only authorized participants may place orders to create and redeem baskets through the transfer
agent. The transfer agent will coordinate with the Trust&#x2019;s ETH Custodians to facilitate settlement of the Shares and ETH.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;Share and capital activity is as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 60%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;Three Months Ended March 31,&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;2026&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;2025&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;Shares&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;Amount&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;Shares&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;Amount&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="width: 44%"&gt;Beginning of period&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;3,625,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;182,710,597&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;3,000,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;137,801,504&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;Shares issued&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,000,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;34,473,179&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;225,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,957,156&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="padding-bottom: 1px"&gt;Shares redeemed&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;(1,150,000)&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;(40,496,007)&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;(75,000)&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;(2,207,029)&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="padding-bottom: 3px"&gt;End of period&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;3,475,000&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;176,687,769&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;3,150,000&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;145,551,631&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
    <us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction
      contextRef="c27"
      decimals="INF"
      id="ixv-3135"
      unitRef="shares">25000</us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction>
    <us-gaap:ScheduleOfStockholdersEquityTableTextBlock contextRef="c0" id="ixv-1907">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;Share and capital activity is as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 60%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;Three Months Ended March 31,&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;2026&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="6" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;2025&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;Shares&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;Amount&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;Shares&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="border-bottom: Black 1px solid; font-weight: bold; text-align: center"&gt;Amount&lt;/td&gt;&lt;td style="padding-bottom: 1px; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="width: 44%"&gt;Beginning of period&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;3,625,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;182,710,597&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;3,000,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 2%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;137,801,504&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td&gt;Shares issued&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,000,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;34,473,179&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;225,000&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,957,156&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="padding-bottom: 1px"&gt;Shares redeemed&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;(1,150,000)&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;(40,496,007)&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;(75,000)&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1px solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1px solid; text-align: right"&gt;(2,207,029)&lt;/td&gt;&lt;td style="padding-bottom: 1px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="padding-bottom: 3px"&gt;End of period&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;3,475,000&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;176,687,769&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;3,150,000&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 3px double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 3px double; text-align: right"&gt;145,551,631&lt;/td&gt;&lt;td style="padding-bottom: 3px; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</us-gaap:ScheduleOfStockholdersEquityTableTextBlock>
    <us-gaap:SharesOutstanding
      contextRef="c3"
      decimals="INF"
      id="ixv-3136"
      unitRef="shares">3625000</us-gaap:SharesOutstanding>
    <us-gaap:StockholdersEquity contextRef="c3" decimals="0" id="ixv-3137" unitRef="usd">182710597</us-gaap:StockholdersEquity>
    <us-gaap:SharesOutstanding
      contextRef="c6"
      decimals="INF"
      id="ixv-3138"
      unitRef="shares">3000000</us-gaap:SharesOutstanding>
    <us-gaap:StockholdersEquity contextRef="c6" decimals="0" id="ixv-3139" unitRef="usd">137801504</us-gaap:StockholdersEquity>
    <us-gaap:StockIssuedDuringPeriodSharesNewIssues
      contextRef="c0"
      decimals="INF"
      id="ixv-3140"
      unitRef="shares">1000000</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
    <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="c0" decimals="0" id="ixv-3141" unitRef="usd">34473179</us-gaap:StockIssuedDuringPeriodValueNewIssues>
    <us-gaap:StockIssuedDuringPeriodSharesNewIssues
      contextRef="c5"
      decimals="INF"
      id="ixv-3142"
      unitRef="shares">225000</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
    <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="c5" decimals="0" id="ixv-3143" unitRef="usd">9957156</us-gaap:StockIssuedDuringPeriodValueNewIssues>
    <us-gaap:StockRedeemedOrCalledDuringPeriodShares
      contextRef="c0"
      decimals="INF"
      id="ixv-3144"
      unitRef="shares">1150000</us-gaap:StockRedeemedOrCalledDuringPeriodShares>
    <us-gaap:StockRedeemedOrCalledDuringPeriodValue contextRef="c0" decimals="0" id="ixv-3145" unitRef="usd">40496007</us-gaap:StockRedeemedOrCalledDuringPeriodValue>
    <us-gaap:StockRedeemedOrCalledDuringPeriodShares
      contextRef="c5"
      decimals="INF"
      id="ixv-3146"
      unitRef="shares">75000</us-gaap:StockRedeemedOrCalledDuringPeriodShares>
    <us-gaap:StockRedeemedOrCalledDuringPeriodValue contextRef="c5" decimals="0" id="ixv-3147" unitRef="usd">2207029</us-gaap:StockRedeemedOrCalledDuringPeriodValue>
    <us-gaap:SharesOutstanding
      contextRef="c2"
      decimals="INF"
      id="ixv-3148"
      unitRef="shares">3475000</us-gaap:SharesOutstanding>
    <us-gaap:StockholdersEquity contextRef="c2" decimals="0" id="ixv-3149" unitRef="usd">176687769</us-gaap:StockholdersEquity>
    <us-gaap:SharesOutstanding
      contextRef="c7"
      decimals="INF"
      id="ixv-3150"
      unitRef="shares">3150000</us-gaap:SharesOutstanding>
    <us-gaap:StockholdersEquity contextRef="c7" decimals="0" id="ixv-3151" unitRef="usd">145551631</us-gaap:StockholdersEquity>
    <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="c0" id="ixv-2013">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;Note 6. Commitments and Contingent Liabilities&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In the normal course of business, the Trust
enters into contracts that contain a variety of general indemnifications. The Trust&#x2019;s maximum exposure under these agreements
is unknown as this would involve future claims that may be made against the Trust that have not yet occurred. However, the Sponsor
believes the risk of loss under these arrangements to be remote.&lt;/p&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
    <us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="c0" id="ixv-2021">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;Note 7. Concentration Risk&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Substantially all of the Trust&#x2019;s
assets are holdings of ETH, which creates a concentration risk associated with fluctuations in the value of ETH due to a number
of factors. Accordingly, a decline in the value of ETH will have an adverse effect on the value of the Shares of the Trust. Factors
that may have the effect of causing a decline in the value of ETH include high volatility, which could have a negative impact
on the performance of the Trust. ETH platforms are&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;relatively new and may be unregulated
or may be subject to regulation in a relevant jurisdiction, but may not be complying, and therefore, may be more exposed to fraud
and security breaches than established, regulated exchanges for other financial assets or instruments, which could have a negative
impact on the performance of the Trust. The value of the Shares depends on the development and acceptance of the ethereum network.
The slowing or stopping of the development or acceptance of the ethereum network may adversely affect an investment in the Trust.
The price of ETH on the ETH market has exhibited periods of extreme volatility. Digital assets such as ETH were only introduced
within the past decade, and the medium-to-long term value of the Shares is subject to a number of factors relating to the capabilities
and development of block-chain technologies and to the fundamental investment characteristics of digital assets that are uncertain
and difficult to evaluate. The Trust is subject to risks due to its concentration of investments in a single asset class. Possible
illiquid markets may exacerbate losses or increase the variability between the Trust&#x2019;s NAV and its market price. The amount
of ETH represented by the Shares may decline over time.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Future and current regulations by a United
States or foreign government or quasi-governmental agency could have an adverse effect on an investment in the Trust. Shareholders
do not have the protections associated with ownership of Shares in an investment company registered under the 1940 Act or the
protections afforded by the Commodity Exchange Act. Future legal or regulatory developments may negatively affect the value of
ETH or require the Trust or the Sponsor to become registered with the SEC or CFTC, which may cause the Trust to liquidate.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Exchange on which the Shares are listed
may halt trading in the Trust&#x2019;s Shares, which would adversely impact a Shareholder&#x2019;s ability to sell Shares. The market
infrastructure of the ETH spot market could result in the absence of active authorized participants able to support the trading
activity of the Trust.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Shareholders that are not authorized participants
may only purchase or sell their Shares in secondary trading markets, and the conditions associated with trading in secondary markets
may adversely affect Shareholders&#x2019; investment in the Shares.&lt;/p&gt;</us-gaap:ConcentrationRiskDisclosureTextBlock>
    <us-gaap:InvestmentCompanyFinancialHighlightsTextBlock contextRef="c0" id="ixv-2061">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;Note 8. Financial Highlights&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The financial highlights summarize certain
per share operating information and financial ratios of net investment loss and expenses, to daily average net assets for the
periods below. An individual investor&#x2019;s return and ratios may vary based on the timing of capital transactions:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1px solid"&gt;Three&#160;Months&lt;br/&gt; Ended March&lt;br/&gt; 31, 2026&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1px solid"&gt;Three&#160;Months&lt;br/&gt; Ended March&lt;br/&gt; 31, 2025&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="width: 70%"&gt;Net asset value per share, beginning of period&lt;/td&gt;&lt;td style="width: 3%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-3"&gt; 4 3.47&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 3%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;48.81&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="text-align: left"&gt;From investment operations:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="text-align: left; padding-left: 10pt"&gt;Net investment loss&lt;sup&gt;(a)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(0.02)&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="text-align: left; padding-bottom: 1px; padding-left: 10pt"&gt;Net realized loss and change in unrealized appreciation
    (depreciation) from investments in ether&lt;sup&gt;(b)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 1px solid"&gt;(12.72)&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 1px solid"&gt;(21.93)&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1px; padding-left: 20pt"&gt;Net decrease resulting from operations&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 1px solid"&gt;(12.74)&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 1px solid"&gt;(21.93)&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="padding-bottom: 3px"&gt;Net asset value per share, end of period&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 3px double"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 3px double"&gt; 30.73&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 3px"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 3px double"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 3px double"&gt;26.88&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 3px"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="text-align: left; padding-left: 10pt"&gt;Total return&lt;sup&gt;(c)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(29.31)%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(44.93)%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="text-align: left"&gt;Ratios to average net assets&lt;sup&gt;(d)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="text-align: left; padding-left: 10pt"&gt;Expenses before fee waiver&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;0.20%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;0.20%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="text-align: left; padding-left: 10pt"&gt;Expenses after fee waiver&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;0.20%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;0.00%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="text-align: left; padding-left: 10pt"&gt;Net investment loss&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(0.20)%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;0.00%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;

&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 18pt"&gt;(a)&lt;/td&gt; &lt;td&gt;Net investment loss per share has been calculated based upon an average of daily shares outstanding.&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td&gt;(b)&lt;/td&gt; &lt;td&gt;The amount shown for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses for the period because of the timing of sales and repurchases of the Trust&#x2019;s shares in relation to fluctuating market values of ETH.&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td&gt;(c)&lt;/td&gt; &lt;td&gt;Returns are not annualized and inc lude adjustments required by GAAP. Returns for financial statements purposes may differ from net asset values and performance reported elsewhere by the Trust.&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td&gt;(d)&lt;/td&gt; &lt;td&gt;Annualized.&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</us-gaap:InvestmentCompanyFinancialHighlightsTextBlock>
    <us-gaap:InvestmentCompanyFinancialHighlightsTableTextBlock contextRef="c0" id="ixv-2065">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The financial highlights summarize certain
per share operating information and financial ratios of net investment loss and expenses, to daily average net assets for the
periods below. An individual investor&#x2019;s return and ratios may vary based on the timing of capital transactions:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1px solid"&gt;Three&#160;Months&lt;br/&gt; Ended March&lt;br/&gt; 31, 2026&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1px solid"&gt;Three&#160;Months&lt;br/&gt; Ended March&lt;br/&gt; 31, 2025&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="width: 70%"&gt;Net asset value per share, beginning of period&lt;/td&gt;&lt;td style="width: 3%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-3"&gt; 4 3.47&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 3%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 10%; text-align: right"&gt;48.81&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="text-align: left"&gt;From investment operations:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="text-align: left; padding-left: 10pt"&gt;Net investment loss&lt;sup&gt;(a)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(0.02)&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#x2014;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="text-align: left; padding-bottom: 1px; padding-left: 10pt"&gt;Net realized loss and change in unrealized appreciation
    (depreciation) from investments in ether&lt;sup&gt;(b)&lt;/sup&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 1px solid"&gt;(12.72)&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 1px solid"&gt;(21.93)&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1px; padding-left: 20pt"&gt;Net decrease resulting from operations&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 1px solid"&gt;(12.74)&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 1px solid"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 1px solid"&gt;(21.93)&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1px"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="padding-bottom: 3px"&gt;Net asset value per share, end of period&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 3px double"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 3px double"&gt; 30.73&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 3px"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 3px"&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left; border-bottom: Black 3px double"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom: Black 3px double"&gt;26.88&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 3px"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="text-align: left; padding-left: 10pt"&gt;Total return&lt;sup&gt;(c)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(29.31)%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(44.93)%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="text-align: left"&gt;Ratios to average net assets&lt;sup&gt;(d)&lt;/sup&gt;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="text-align: left; padding-left: 10pt"&gt;Expenses before fee waiver&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;0.20%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;0.20%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; "&gt;
    &lt;td style="text-align: left; padding-left: 10pt"&gt;Expenses after fee waiver&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;0.20%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;0.00%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(229,255,255)"&gt;
    &lt;td style="text-align: left; padding-left: 10pt"&gt;Net investment loss&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(0.20)%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;0.00%&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;

&lt;table cellpadding="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td style="width: 18pt"&gt;(a)&lt;/td&gt; &lt;td&gt;Net investment loss per share has been calculated based upon an average of daily shares outstanding.&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td&gt;(b)&lt;/td&gt; &lt;td&gt;The amount shown for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses for the period because of the timing of sales and repurchases of the Trust&#x2019;s shares in relation to fluctuating market values of ETH.&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td&gt;(c)&lt;/td&gt; &lt;td&gt;Returns are not annualized and inc lude adjustments required by GAAP. Returns for financial statements purposes may differ from net asset values and performance reported elsewhere by the Trust.&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="vertical-align: top"&gt; &lt;td&gt;(d)&lt;/td&gt; &lt;td&gt;Annualized.&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;</us-gaap:InvestmentCompanyFinancialHighlightsTableTextBlock>
    <us-gaap:NetAssetValuePerShare
      contextRef="c6"
      decimals="2"
      id="ixv-3152"
      unitRef="usdPershares">48.81</us-gaap:NetAssetValuePerShare>
    <us-gaap:InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
      contextRef="c0"
      decimals="2"
      id="ix_0_fact"
      unitRef="usdPershares">-0.02</us-gaap:InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare>
    <us-gaap:InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
      contextRef="c5"
      decimals="0"
      id="ix_1_fact"
      unitRef="usdPershares">0</us-gaap:InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare>
    <ethv:NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments
      contextRef="c0"
      decimals="2"
      id="ix_2_fact"
      unitRef="usdPershares">-12.72</ethv:NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments>
    <ethv:NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments
      contextRef="c5"
      decimals="2"
      id="ix_3_fact"
      unitRef="usdPershares">-21.93</ethv:NetRealizedGainLossAndChangeInUnrealizedAppreciationDepreciationFromInvestments>
    <us-gaap:InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease
      contextRef="c0"
      decimals="2"
      id="ixv-3157"
      unitRef="usdPershares">-12.74</us-gaap:InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease>
    <us-gaap:InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease
      contextRef="c5"
      decimals="2"
      id="ixv-3158"
      unitRef="usdPershares">-21.93</us-gaap:InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease>
    <us-gaap:NetAssetValuePerShare
      contextRef="c2"
      decimals="2"
      id="ixv-3159"
      unitRef="usdPershares">30.73</us-gaap:NetAssetValuePerShare>
    <us-gaap:NetAssetValuePerShare
      contextRef="c7"
      decimals="2"
      id="ixv-3160"
      unitRef="usdPershares">26.88</us-gaap:NetAssetValuePerShare>
    <us-gaap:InvestmentCompanyTotalReturn contextRef="c0" decimals="4" id="ix_4_fact" unitRef="pure">-0.2931</us-gaap:InvestmentCompanyTotalReturn>
    <us-gaap:InvestmentCompanyTotalReturn contextRef="c5" decimals="4" id="ix_5_fact" unitRef="pure">-0.4493</us-gaap:InvestmentCompanyTotalReturn>
    <us-gaap:InvestmentCompanyExpenseRatioExcludingIncentiveFee contextRef="c0" decimals="4" id="ix_6_fact" unitRef="pure">0.002</us-gaap:InvestmentCompanyExpenseRatioExcludingIncentiveFee>
    <us-gaap:InvestmentCompanyExpenseRatioExcludingIncentiveFee contextRef="c5" decimals="4" id="ix_7_fact" unitRef="pure">0.002</us-gaap:InvestmentCompanyExpenseRatioExcludingIncentiveFee>
    <us-gaap:InvestmentCompanyExpenseRatioIncludingIncentiveFee contextRef="c0" decimals="4" id="ix_8_fact" unitRef="pure">0.002</us-gaap:InvestmentCompanyExpenseRatioIncludingIncentiveFee>
    <us-gaap:InvestmentCompanyExpenseRatioIncludingIncentiveFee contextRef="c5" decimals="4" id="ix_9_fact" unitRef="pure">0</us-gaap:InvestmentCompanyExpenseRatioIncludingIncentiveFee>
    <us-gaap:InvestmentCompanyInvestmentIncomeLossRatio contextRef="c0" decimals="4" id="ix_10_fact" unitRef="pure">-0.002</us-gaap:InvestmentCompanyInvestmentIncomeLossRatio>
    <us-gaap:InvestmentCompanyInvestmentIncomeLossRatio contextRef="c5" decimals="4" id="ix_11_fact" unitRef="pure">0</us-gaap:InvestmentCompanyInvestmentIncomeLossRatio>
    <us-gaap:SubsequentEventsTextBlock contextRef="c0" id="ixv-2283">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;Note 9. Subsequent Event Review&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Trust has evaluated subsequent events
and transactions for potential recognition or disclosure through the date the financial statements were issued and has determined
that there are no material events that would require disclosure.&lt;/p&gt;</us-gaap:SubsequentEventsTextBlock>
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    <us-gaap:NumberOfOperatingSegments
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    <dei:AmendmentFlag contextRef="c0" id="ixv-3184">false</dei:AmendmentFlag>
    <dei:DocumentFiscalPeriodFocus contextRef="c0" id="ixv-3185">Q1</dei:DocumentFiscalPeriodFocus>
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    <us-gaap:NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets contextRef="c2" decimals="INF" id="ixv-3188" unitRef="pure">-0.0002</us-gaap:NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets>
    <ethv:NetAssetsPercentageOfNetAssetsValue contextRef="c2" decimals="INF" id="ixv-3189" unitRef="pure">1.0000</ethv:NetAssetsPercentageOfNetAssetsValue>
    <us-gaap:InvestmentOwnedPercentOfNetAssets contextRef="c3" decimals="INF" id="ixv-3190" unitRef="pure">1.0002</us-gaap:InvestmentOwnedPercentOfNetAssets>
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    <ethv:NetAssetsPercentageOfNetAssetsValue contextRef="c3" decimals="INF" id="ixv-3192" unitRef="pure">1.0000</ethv:NetAssetsPercentageOfNetAssetsValue>
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        <link:footnote id="ix_1_footnote" xlink:label="ix_1_footnote" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">The amount shown for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses for the period because of the timing of sales and repurchases of the Trust&#x2019;s shares in relation to fluctuating market values of ETH.</link:footnote>
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