v3.25.2
Fair Value of ETC
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value of ETC

3. Fair Value of ETC

ETC is held by the Custodian on behalf of the Trust and is carried at fair value. As of June 30, 2025 and December 31, 2024, the Trust held 11,124,845.42445120 and 11,263,626.25503150 ETC, respectively.

The Trust determined the fair value per ETC to be $16.77 and $25.13 on June 30, 2025 and December 31, 2024, respectively, using the price provided at 4:00 p.m., New York time, by the Digital Asset Trading Platform Market considered to be the Trust’s principal market (Coinbase).

The following represents the changes in quantity of ETC and the respective fair value:

(Amounts in thousands, except ETC amounts)

 

Quantity

 

 

Fair Value

 

Balance at December 31, 2023

 

 

11,548,776.17230000

 

 

 

253,958

 

ETC contributed

 

 

-

 

 

 

-

 

ETC distributed for Sponsor’s Fee, related party

 

 

(285,149.91726843

)

 

 

(7,157

)

Net change in unrealized appreciation on investment in ETC

 

 

-

 

 

 

31,251

 

Net realized gain on investment in ETC

 

 

-

 

 

 

5,003

 

Balance at December 31, 2024

 

 

11,263,626.25503150

 

 

$

283,055

 

ETC contributed

 

 

-

 

 

 

-

 

ETC distributed for Sponsor’s Fee, related party

 

 

(138,780.83058030

)

 

 

(2,690

)

Net change in unrealized appreciation on investment in ETC

 

 

-

 

 

 

(95,443

)

Net realized gain on investment in ETC

 

 

-

 

 

 

1,642

 

Balance at June 30, 2025

 

 

11,124,845.42445120

 

 

 

186,564