v3.26.1
Note 2 - Significant Accounting Policies - Activity in Ether (Details)
 3 Months Ended 6 Months Ended
Feb. 18, 2026
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2026
USD ($)
Beginning balance   194,989 0
Beginning balance, average cost   $ 405,833,590 $ 0
Beginning balance, fair value   $ 409,835,035 $ 0
Ether purchased   126,711 [1] 322,214 [2]
Ether purchased, average cost   $ 273,515,403 [1] $ 680,416,742 [2]
Ether purchased, fair value $ 51,455 $ 273,515,403 [1] $ 680,416,742 [2]
Ether sold for the redemption of shares   (33,018) [3] (33,532) [4]
Ether sold for the redemption of shares, average cost   $ (69,087,258) [3] $ (70,155,007) [4]
Ether sold for the redemption of shares, fair value   (57,766,222) [3] (58,804,900) [4]
Ether sold for the redemption of shares, realized gain (loss)   $ (11,321,036) [3],[5] $ (11,350,107) [4],[6]
Ether sold to pay expenses   (67) (67)
Ether sold to pay expenses, average cost   $ (147,564) $ (147,564)
Ether sold to pay expenses, fair value   (134,290) (134,290)
Ether sold to pay expenses, realized gain (loss)   $ (13,274) $ (13,274)
Ether sold for distributions   (198) (198)
Ether sold for distributions, average cost   $ (438,770) $ (438,770)
Ether sold for distributions, fair value   (351,675) (351,675)
Ether sold for distributions, realized gain (loss)   (87,095) (87,095)
Net realized loss, fair value   (11,421,405) (11,450,476)
Net change in unrealized appreciation/depreciation, fair value   $ (154,226,015) $ (150,224,570)
Ending balance [7]   288,417 288,417
Ending balance, average cost   $ 609,675,401 $ 609,675,401
Ending balance, fair value [7],[8]   459,450,831 459,450,831
Ending balance, realized gain (loss)   $ (11,421,405) $ (11,450,476)
[1] Includes ether purchased in-kind for shares issued of $75,351,373.
[2] Includes ether purchased in-kind for Shares issued of $133,215,012.
[3] Includes ether paid in-kind for shares redeemed of $21,517,719 (Cost of ether paid was $24,288,388 and realized loss of ether paid was $2,770,669).
[4] Includes ether paid in-kind for Shares redeemed of $22,556,398 (Cost of ether paid was $25,356,138 and realized loss of ether paid was $2,799,740).
[5] Includes $(2,770,669) of ether paid for the in-kind redemption of Shares.
[6] Includes $(2,799,740) of ether paid for the in-kind redemption of Shares.
[7] As of June 30, 2026, 250,585 ether (representing 86.9% of the position) are staked with third party counterparties.
[8] Cost of investment in ether is $609,675,401.