| Fair Value of Ether |
3. Fair Value of Ether Ether is held by the Custodian on behalf of the Trust and is carried at fair value. As of June 30, 2026 and December 31, 2025, the Trust held 774,998.51127584 and 910,328.89953386 Ether, respectively. The Trust determined the fair value per Ether to be $1,578.53 and $2,971.94 on June 30, 2026 and December 31, 2025, 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 (Crypto.com). The following represents the changes in quantity of Ether and the respective fair value:
|
|
|
|
|
|
|
|
|
(Amounts in thousands, except Ether amounts) |
|
Quantity |
|
|
Fair Value |
|
Balance at December 31, 2024 |
|
|
1,417,788.29257515 |
|
|
$ |
4,735,980 |
|
Ether contributed |
|
|
58,394.50354538 |
|
|
|
145,024 |
|
Ether redeemed |
|
|
(333,499.26471943 |
) |
|
|
(811,599 |
) |
Ether distributed for Sponsor’s Fee, related party |
|
|
(15,229.93845663 |
) |
|
|
(37,446 |
) |
Net change in unrealized appreciation/depreciation on investment in Ether |
|
|
- |
|
|
|
(1,883,136 |
) |
Net realized gain on investment in Ether sold to pay Sponsor’s Fee |
|
|
- |
|
|
|
30,214 |
|
Net realized gain on investment in Ether sold for redemption of Shares |
|
|
- |
|
|
|
657,896 |
|
Balance at June 30, 2025 |
|
|
1,127,453.59294447 |
|
|
$ |
2,836,933 |
|
|
|
|
|
|
|
|
(Amounts in thousands, except Ether amounts) |
|
Quantity |
|
|
Fair Value |
|
Balance at December 31, 2025 |
|
|
910,328.89953386 |
|
|
$ |
2,705,443 |
|
Ether contributed |
|
|
100,638.09303104 |
|
|
|
261,371 |
|
Ether redeemed |
|
|
(222,953.87073101 |
) |
|
|
(541,860 |
) |
Ether distributed for Sponsor’s Fee, related party |
|
|
(10,427.77480814 |
) |
|
|
(23,348 |
) |
Ether distributed for Sponsor’s Staking Fee, related party |
|
|
(2,501.19306920 |
) |
|
|
(6,192 |
) |
Staking Reward Income |
|
|
8,376.79826132 |
|
|
|
18,808 |
|
Ether distributed to Shareholders |
|
|
(8,462.44094203 |
) |
|
|
(21,150 |
) |
Net change in unrealized appreciation/depreciation on investment in Ether |
|
|
- |
|
|
|
(1,489,085 |
) |
Net change in unrealized appreciation/depreciation on Sponsor's Staking Fee payable in Ether |
|
|
- |
|
|
|
(181 |
) |
Net realized gain on investment in Ether sold to pay Sponsor’s Fee |
|
|
- |
|
|
|
11,441 |
|
Net realized gain on investment in Ether sold to pay Sponsor’s Staking Fee |
|
|
- |
|
|
|
3,594 |
|
Net realized gain on investment in Ether sold for Income Distribution |
|
|
- |
|
|
|
11,935 |
|
Net realized gain on investment in Ether sold for redemption of shares |
|
|
- |
|
|
|
292,582 |
|
Balance at June 30, 2026 |
|
|
774,998.51127584 |
|
|
$ |
1,223,358 |
|
|