Tue, Sep 3, 5:18 PM (133 days ago)
The VanEck Ethereum ETF's quarterly report for the period ended June 30, 2024, reveals significant financial growth since its inception on May 20, 2024. The Trust's net asset value (NAV) surged from $100,000 to $10,234,617, marking a 10,135% increase due to the issuance of 200,000 shares and a 2% rise in the price of Ether (ETH) during the quarter. The NAV per share rose from $50.00 to $51.17, with a net increase in net assets of $234,617 attributed solely to unrealized gains in ETH. The Trust holds all its assets in ETH, representing 100% of its net assets, which exposes it to concentration risks. Notably, the Trust incurred no expenses during this initial quarter of operations. Forward-looking statements highlight potential market risks and regulatory uncertainties affecting future performance. A sponsor fee of 0.20% will apply after July 22, 2025, while a waiver will be in effect until then for net assets up to $1.5 billion. Overall, the Trust's performance indicates a strong start with significant growth potential, albeit with inherent market volatility risks.