v3.26.3
Fair Value of ETC
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value of ETC

3. Fair Value of ETC

ETC is held by the Custodian on behalf of the Trust and is carried at fair value. As of September 30, 2026 and December 31, 2025, the Trust held 10,782,004.47041505 and 10,985,516.92607291 ETC, respectively.

The Trust determined the fair value per ETC to be $8.81 and $11.47 on September 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 (as defined herein) considered to be the Trust’s principal market (Coinbase).

The following represents the changes in quantity of ETC and the respective fair value:

(Amounts in thousands, except ETC amounts)

 

Quantity

 

 

Fair Value

 

Balance at December 31, 2024

 

 

11,263,626.25503150

 

 

 

283,055

 

ETC contributed

 

 

-

 

 

 

-

 

ETC distributed for expenses

 

 

(208,664.57666045

)

 

 

(4,130

)

Net realized gain

 

 

-

 

 

 

2,554

 

Net change in unrealized appreciation/depreciation

 

 

-

 

 

 

(78,289

)

Balance at September 30, 2025

 

11,054,961.67837105

 

 

$

203,190

 

 

 

 

 

 

 

 

(Amounts in thousands, except ETC amounts)

 

Quantity

 

 

Fair Value

 

Balance at December 31, 2025

 

10,985,516.92607291

 

 

$

126,004

 

ETC contributed

 

 

-

 

 

 

-

 

ETC distributed for expenses

 

 

(203,512.45565786

)

 

 

(1,714

)

Net realized gain

 

 

-

 

 

 

177

 

Net change in unrealized appreciation/depreciation

 

 

-

 

 

 

(29,521

)

Balance at September 30, 2026

 

10,782,004.47041505

 

 

$

94,946