(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