Tue, Nov 12, 8:46 PM (97 days ago)
As of September 30, 2024, the VanEck Ethereum ETF (ETHV) reported a net asset value (NAV) of $63,824,094, reflecting a significant increase from its NAV of $10,234,617 at the end of June 2024, driven by a rise in shares outstanding from 200,000 to 1,675,000. However, the NAV per share fell 26% from $51.17 to $38.10, correlating with a 26% drop in the price of Ether (ETH) during the quarter. The Trust recorded a net decrease in net assets from operations of $12,653,618, attributed to unrealized depreciation of $10,815,249 and a realized loss of $1,838,369 from ETH sales for share redemptions. Notably, all expenses were waived by the Sponsor during this period. The Trust's investment strategy focuses on reflecting the price performance of ETH, and it remains exposed to significant market volatility and regulatory risks. Overall, the Trust's financial health shows promising growth in assets but highlights vulnerabilities linked to ETH price fluctuations.