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Fair Value of Ether (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Changes in Quantity of Ether and Fair Value

The following represents the changes in quantity of ether and the respective fair value for the three-month period ended March 31, 2025:

 

 

Quantity of ether

 

 

Fair Value
(amounts in thousands)

 

Beginning balance as of December 31, 2024

 

 

121,101.8582

 

 

$

404,529

 

Purchases

 

 

7,173.6589

 

 

 

20,853

 

Sales for the redemption of Shares

 

 

(33,142.6922

)

 

 

(101,693

)

Ether transferred for Sponsor Fee

 

 

(24.3984

)

 

 

(60

)

Net realized gain (loss) on investment in ether transferred to pay Sponsor Fee

 

 

—

 

 

 

2

 

Net realized gain (loss) on investment in ether sold for redemptions

 

 

—

 

 

 

(13,641

)

Change in unrealized appreciation (depreciation) on investment in ether

 

 

—

 

 

 

(136,196

)

Ending balance as of March 31, 2025

 

 

95,108.4265

 

 

$

173,794

 

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

 

 

Quantity of ether

 

 

Fair Value
(amounts in thousands)

 

Beginning balance as of July 22, 2024 (commencement of operations)

 

 

—

 

 

$ —

 

Purchases

 

 

136,813.5326

 

 

 

453,518

 

Sales for the redemption of Shares

 

 

(15,711.6744

)

 

 

(49,804

)

Ether transferred for Sponsor Fee

 

 

—

 

 

 

—

 

Net realized gain (loss) on investment in ether transferred to pay Sponsor Fee

 

 

—

 

 

 

—

 

Net realized gain (loss) on investment in ether sold for redemptions

 

 

—

 

 

 

(9,412

)

Change in unrealized appreciation (depreciation) on investment in ether

 

 

—

 

 

 

10,227

 

Ending balance as of December 31, 2024

 

 

121,101.8582

 

 

$

404,529