Federal Income Taxes |
3 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Federal Income Taxes | NOTE 4 – FEDERAL INCOME TAXES The Trust is classified as a partnership for U.S. federal income tax purposes. The Trust is not subject to federal income taxes; each shareholder reports their allocable share of income, gain, loss, deductions or credits on their income tax returns. The Trust files an income tax return in the U.S. federal jurisdiction and may file income tax returns in various U.S. states and foreign jurisdictions. In accordance with GAAP, the Trust is required to determine whether its tax positions are more likely than not to be sustained on examination by the applicable taxing authority, including resolution of any tax related appeals or litigation processes, based on the technical merits of the position. As of June 30, 2026, the Sponsor has reviewed the tax positions of the Trust and has determined that no provision for income tax is required and does not believe that there are any uncertain tax positions that require recognition of a tax liability. However, the Trust’s conclusions may be subject to review and adjustment at a later date based on factors including, but not limited to, the nexus of income among various tax jurisdictions; compliance with U.S. federal, U.S. state, and tax laws of jurisdictions in which the Trust operates; and changes in the administrative practices and precedents of the relevant authorities. The Trust is required to analyze all open tax years. Open tax years are those years that are open for examination by the relevant income tax jurisdictions. As of June 30, 2026, the tax years that remain subject to examination by major tax jurisdictions under the statute of limitations are from year 2026 forward (with limited exceptions). |