Fri, Aug 2, 12:37 PM (340 days ago)
Grayscale Ethereum Trust (ETH) reported significant financial growth for the quarter ended June 30, 2024. The Trust’s net assets increased to $10.02 billion, up from $6.76 billion at the end of 2023, reflecting a 48% rise primarily due to the appreciation in Ether prices from $2,281.10 to $3,423.00 per Ether. The Trust recorded a net gain of $3.37 billion from the realized and unrealized appreciation of Ether, despite a $114.93 million Sponsor’s Fee. The Trust did not operate a redemption program during the period but commenced one on July 22, 2024, after the SEC approved its NYSE Arca listing. The Trust's shares began trading on NYSE Arca on July 23, 2024. The Trust also completed a pro rata distribution of Grayscale Ethereum Mini Trust (ETH) shares, contributing 10% of its Ether holdings to the new trust. This quarter marks a pivotal period with significant regulatory and operational advancements.