Note 8. Financial Highlights
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’s return and ratios may vary based on the timing of capital transactions:
| | |
Three Months
Ended March
31, 2026 | | |
Three Months
Ended March
31, 2025 | |
| Net asset value per share, beginning of period | |
$ | 4 3.47 | | |
$ | 48.81 | |
| | |
| | | |
| | |
| From investment operations: | |
| | | |
| | |
| Net investment loss(a) | |
| (0.02) | | |
| — | |
| Net realized loss and change in unrealized appreciation
(depreciation) from investments in ether(b) | |
| (12.72) | | |
| (21.93) | |
| Net decrease resulting from operations | |
| (12.74) | | |
| (21.93) | |
| | |
| | | |
| | |
| Net asset value per share, end of period | |
$ | 30.73 | | |
$ | 26.88 | |
| | |
| | | |
| | |
| Total return(c) | |
| (29.31)% | | |
| (44.93)% | |
| | |
| | | |
| | |
| Ratios to average net assets(d) | |
| | | |
| | |
| Expenses before fee waiver | |
| 0.20% | | |
| 0.20% | |
| Expenses after fee waiver | |
| 0.20% | | |
| 0.00% | |
| Net investment loss | |
| (0.20)% | | |
| 0.00% | |
| | |
| | | |
| | |
| (a) | Net investment loss per share has been calculated based upon an average of daily shares outstanding. |
| (b) | 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’s shares in relation to fluctuating market values of ETH. |
| (c) | 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. |
| (d) | Annualized. |
|