
	Three Months Ended June 30, 2025(1)			Six Months Ended June 30, 2025(1)
Per Share Data:
Principal Market NAV, beginning of period	$	36.53		$	41.39
Net increase in net assets from investment operations:
Net investment loss		(0.02	)		(0.03	)
Net realized and unrealized gain		11.21			6.36
Net increase in net assets resulting from operations		11.19			6.33
Principal Market NAV, end of period	$	47.72		$	47.72
Total return		30.65	%		15.29	%
Ratios to average net assets:
Net investment loss		-0.15	%		-0.15	%
Expenses		-0.15	%		-0.15	%

(1)

No comparative financial statements have been provided as the Trust’s operations commenced on July 31, 2024. Prior to the commencement of operations on July 31, 2024, the Sponsor redeemed the initial seed capital of 10,000 shares for $100,000.

Ratios of net investment loss and expenses to average net assets have been annualized.

An individual shareholder’s return, ratios, and per Share performance may vary from those presented above based on the timing of Share transactions. The amount shown for a Share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the number of Shares issued in Creations occurring at an operational value derived from an operating metric as defined in the Trust Agreement.

Total return is calculated assuming an initial investment made at the Principal Market NAV at the beginning of the period and assuming redemption on the last day of the period.