v3.25.4
Combined Statements of Cash Flows (Unaudited)
3 Months Ended 6 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
Cash flows provided by (used in) operating activities    
Net loss $ (12,259,764) $ (16,814,660)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Sale (Purchase) of investments, net   (10,980,583)
Change in net unrealized loss (gain) on futures   1,582,730
Change in operating assets and liabilities:    
Decrease (increase) in interest receivable   33,206
Decrease (increase) in due from sponsor   (1,792)
Increase (decrease) in due to sponsor   (26,708)
Increase (decrease) in other accrued expenses   194,979
Net cash provided by (used in) operating activities   (26,012,828)
Cash flows from financing activities    
Proceeds from sale of shares   23,258,581
Paid on redemption of shares   (15,292,145)
Net cash provided by (used in) financing activities   7,966,436
Net increase (decrease) in cash and restricted cash   (18,046,392)
Cash and restricted cash, beginning of year   32,983,489
Cash and restricted cash, end of year 14,937,097 14,937,097
Cash
Segregated cash held by broker 14,937,097 14,937,097
Total cash and restricted cash as shown on the statement of cash flows 14,937,097 14,937,097
BREAKWAVE DRY BULK SHIPPING ETF    
Cash flows provided by (used in) operating activities    
Net loss (11,489,313) (15,708,546)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Sale (Purchase) of investments, net   (11,489,595)
Change in net unrealized loss (gain) on futures   1,513,760
Change in operating assets and liabilities:    
Decrease (increase) in interest receivable   33,211
Decrease (increase) in due from sponsor  
Increase (decrease) in due to sponsor   (26,708)
Increase (decrease) in other accrued expenses   188,126
Net cash provided by (used in) operating activities   (25,489,752)
Cash flows from financing activities    
Proceeds from sale of shares   22,040,013
Paid on redemption of shares   (14,328,055)
Net cash provided by (used in) financing activities   7,711,958
Net increase (decrease) in cash and restricted cash   (17,777,794)
Cash and restricted cash, beginning of year   31,739,612
Cash and restricted cash, end of year 13,961,818 13,961,818
Cash
Segregated cash held by broker 13,961,818 13,961,818
Total cash and restricted cash as shown on the statement of cash flows 13,961,818 13,961,818
BREAKWAVE TANKER SHIPPING ETF    
Cash flows provided by (used in) operating activities    
Net loss (770,451) (1,106,114)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Sale (Purchase) of investments, net   509,012
Change in net unrealized loss (gain) on futures   68,970
Change in operating assets and liabilities:    
Decrease (increase) in interest receivable   (5)
Decrease (increase) in due from sponsor   (1,792)
Increase (decrease) in due to sponsor  
Increase (decrease) in other accrued expenses   6,853
Net cash provided by (used in) operating activities   (523,076)
Cash flows from financing activities    
Proceeds from sale of shares   1,218,568
Paid on redemption of shares   (964,090)
Net cash provided by (used in) financing activities   254,478
Net increase (decrease) in cash and restricted cash   (268,598)
Cash and restricted cash, beginning of year   1,243,877
Cash and restricted cash, end of year 975,279 975,279
Cash
Segregated cash held by broker 975,279 975,279
Total cash and restricted cash as shown on the statement of cash flows $ 975,279 $ 975,279