Document And Entity Information
Document And Entity Information - shares | 1 Months Ended | |
Jun. 30, 2024 | Jul. 31, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0002000638 | |
Entity Registrant Name | iShares Ethereum Trust ETF | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2024 | |
Document Transition Report | false | |
Entity File Number | 001-42166 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 99-6353885 | |
Entity Address, Address Line One | 400 Howard Street | |
Entity Address, City or Town | San Francisco | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94105 | |
City Area Code | 415 | |
Local Phone Number | 670-2000 | |
Title of 12(b) Security | Shares | |
Trading Symbol | ETHA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 24,800,000 |
Statement of Assets and Liabili
Statement of Assets and Liabilities (Unaudited) | Jun. 30, 2024 USD ($) $ / shares shares | |
Assets | ||
Investment in ether, at fair value | $ 10,590,295 | [1] |
Total Assets | 10,590,295 | |
Liabilities | ||
Sponsor’s fees payable | 420 | |
Total Liabilities | 420 | |
Commitments and contingent liabilities (Note 6) | ||
Net Assets | $ 10,589,875 | |
Shares issued and outstanding (in shares) | shares | 400,000 | [2] |
Net asset value per Share (Note 2C) (in dollars per share) | $ / shares | $ 26.47 | |
[1]Cost of investment in ether is $10,000,000.[2]No par value, unlimited amount authorized. |
Statement of Assets and Liabi_2
Statement of Assets and Liabilities (Unaudited) (Parentheticals) $ / shares in Thousands | Jun. 30, 2024 USD ($) $ / shares shares |
Investment in ether, at cost | $ | $ 10,000,000 |
Shares, par value (in dollars per share) | $ / shares | $ 0 |
Shares, issued (in shares) | shares | 400,000 |
Statement of Operations (Unaudi
Statement of Operations (Unaudited) | 1 Months Ended | |
Jun. 30, 2024 USD ($) $ / shares | ||
Expenses | ||
Sponsor’s fees | $ 420 | |
Total expenses | 420 | |
Net investment loss | (420) | |
Net Realized and Unrealized Gain (Loss) | ||
Net realized gain | 0 | |
Net change in unrealized appreciation/depreciation | 590,295 | |
Net realized and unrealized gain | 590,295 | |
Net increase in net assets resulting from operations | $ 589,875 | |
Net increase in net assets per Share (in dollars per share) | $ / shares | $ 1.47 | [1] |
[1]Net increase in net assets per Share based on average shares outstanding during the period. |
Statement of Changes in Net Ass
Statement of Changes in Net Assets (Unaudited) | 1 Months Ended |
Jun. 30, 2024 USD ($) shares | |
Net Assets at May 21, 2024 | $ 0 |
Operations: | |
Net investment loss | (420) |
Net realized gain | 0 |
Net change in unrealized appreciation/depreciation | 590,295 |
Net increase in net assets resulting from operations | 589,875 |
Capital Share Transactions: | |
Contributions for Shares issued | 10,000,000 |
Distributions for Shares redeemed | 0 |
Net increase in net assets from capital share transactions | 10,000,000 |
Increase in net assets | 10,589,875 |
Net Assets, End of Period | $ 10,589,875 |
Shares issued and redeemed | |
Shares issued (in shares) | shares | 400,000 |
Shares redeemed (in shares) | shares | 0 |
Net increase in Shares issued and outstanding (in shares) | shares | 400,000 |
Statement of Cash Flows (Unaudi
Statement of Cash Flows (Unaudited) | 1 Months Ended |
Jun. 30, 2024 USD ($) | |
Cash Flows from Operating Activities | |
Net increase in net assets resulting from operations | $ 589,875 |
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: | |
Purchases of ether | (10,000,000) |
Proceeds from ether sold to pay expenses | 0 |
Net realized (gain) loss | 0 |
Net change in unrealized appreciation/depreciation | (590,295) |
Change in operating assets and liabilities: | |
Sponsor’s fees payable | 420 |
Net cash used in operating activities | (10,000,000) |
Cash Provided by Financing Activities | |
Proceeds from issuance of Shares | 10,000,000 |
Net cash provided by financing activities | 10,000,000 |
Cash | |
Net increase in cash | 0 |
Cash, beginning of period | 0 |
Cash, end of period | $ 0 |
Schedule of Investments (Unaudu
Schedule of Investments (Unauduited) | 1 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Schedule of Investments [Text Block] | ® Schedule of Investments (Unaudited) At June 30, 2024 June 30, 2024 Description Quantity Cost Fair Value Ether 3,031 $ 10,000,000 $ 10,590,295 Total Investments — 100.00 10,590,295 Less Liabilities — 0.00 (420 ) Net Assets — 100.00 $ 10,589,875 See notes to financial statements. |
Note 1 - Organization
Note 1 - Organization | 1 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1 The iShares Ethereum Trust ETF (the “Trust”) was organized on November 9, 2023 July 3, 2024. On May 21, 2024, not June 24, 2024, June 24, 2024. The Trust’s registration statement on Form S- 1 July 22, 2024 July 23, 2024. The Trust seeks to reflect generally the performance of the price of ether. The Trust seeks to reflect such performance before payment of the Trust’s expenses and liabilities. The Shares are intended to constitute a simple means of making an investment similar to an investment in ether. The accompanying unaudited financial statements were prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and with the instructions for Form 10 not The Trust qualifies as an investment company solely for accounting purposes and not 946, not not 1940, |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 1 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2 A. Basis of Accounting The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. B. Ether Coinbase Custody Trust Company, LLC (the “Ether Custodian”) is responsible for safekeeping the ether owned by the Trust. The Ether Custodian is appointed by the Trustee. The net asset value of the Trust equals the total assets of the Trust, which consists solely of ether and cash, less total liabilities of the Trust, each determined by the Trustee pursuant to policies established from time to time by the Trustee or its affiliates or otherwise described herein. The Trust’s periodic financial statements are prepared in accordance with the Financial Accounting Standards Board Accounting Standards Codification Topic 820, 820” 11:59 third third The Sponsor has the exclusive authority to determine the Trust’s net asset value, which it has delegated to the Trustee under the Trust Agreement. The Trustee has delegated to the Trust Administrator the responsibility to calculate the net asset value of the Trust and the net asset value per Share (“NAV”), based on a pricing source selected by the Trustee. In determining the Trust’s net asset value, the Trust Administrator values the ether held by the Trust based on an index (the “Index”), unless the Sponsor in its sole discretion determines that the Index is unreliable. The methodology used to calculate the Index price to value ether in determining the net asset value of the Trust may not not not not may Additionally, the Trust Administrator monitors for unusual prices and escalates to the Trustee if detected. If the CF Benchmarks Index is not 4:00 4:00 not 5:30 no 8:00 4:00 5:30 The Trust’s periodic financial statements may not not Gain or loss on sales of ether is calculated on a trade date basis using the average cost method. The following table summarizes activity in ether for the period from May 21, 2024 ( June 30, 2024: Period from May 21, 2024 (Date of Seeding) to June 30, 2024 Quantity Cost Fair Value Realized Beginning balance — $ — $ — $ — Ether purchased 3,031 10,000,000 10,000,000 — Ether sold for the redemption of shares — — — — Ether sold to pay expenses — — — — Net realized gain — — — — Net change in unrealized appreciation/depreciation — — 590,295 — Ending balance 3,031 $ 10,000,000 $ 10,590,295 $ — C. Calculation of Net Asset Value On each Business Day, as soon as practicable after 4:00 D. Cash and Cash Equivalents Cash includes non-interest bearing, non-restricted cash maintained with one not E. Federal Income Taxes The Trust is treated as a grantor trust for federal income tax purposes and, therefore, no June 30, 2024 not |
Note 3 - Trust Expenses
Note 3 - Trust Expenses | 1 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Trust Expenses [Text Block] | 3 The Sponsor’s fee is accrued daily at an annualized rate equal to 0.25% of the net asset value of the Trust and is payable at least quarterly in arrears in U.S. dollars or in-kind or any combination thereof. For the period ended June 30, 2024, The Sponsor may, no no not twelve July 23, 2024, first The Sponsor has agreed to assume the marketing and the following administrative expenses of the Trust: the fees of the Trustee, the Delaware Trustee, the Trust Administrator, the Ether Custodian, and The Bank of New York Mellon (the “Cash Custodian”), NASDAQ listing fees, SEC registration fees, printing and mailing costs, tax reporting fees, audit fees, license fees and expenses and up to $500,000 per annum in ordinary legal fees and expenses. The Sponsor may not not |
Note 4 - Related Parties
Note 4 - Related Parties | 1 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 4 The Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee’s fee is paid by the Sponsor and is not As of June 30, 2024, |
Note 5 - Indemnification
Note 5 - Indemnification | 1 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Indemnification [Text Block] | 5 The Trust Agreement provides that the Sponsor shall indemnify the Trustee, its directors, employees, delegees and agents against, and hold each of them harmless from, any loss, liability, claim, cost, expense or judgment of any kind whatsoever (including the reasonable fees and expenses of counsel) that is incurred by any of them and that arises out of or is related to ( 1 2 3 not x not The Trust Agreement provides that the Trustee shall indemnify the Sponsor, its directors, employees, delegees and agents against, and hold each of them harmless from, any loss, liability, claim, cost, expense or judgment of any kind whatsoever (including the reasonable fees and expenses of counsel) ( 1 2 not The Trust Agreement provides that the Sponsor and its shareholders, directors, officers, employees, affiliates (as such term is defined under the Securities Act of 1933, 1 2 The Trust has agreed that the Cash Custodian will only be responsible for any loss or damage suffered by the Trust as a direct result of the Cash Custodian’s negligence, fraud or willful default in the performance of its duties. The Trust’s maximum exposure under these arrangements is unknown because it involves future potential claims against the Trust, which cannot be predicted with any certainty. |
Note 6 - Commitments and Contin
Note 6 - Commitments and Contingent Liabilities | 1 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 6 In the normal course of business, the Trust may may |
Note 7 - Concentration Risk
Note 7 - Concentration Risk | 1 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 7 Substantially all of the Trust’s assets are holdings of ether, which creates a concentration risk associated with fluctuations in the value of ether. Accordingly, a decline in the value of ether will have an adverse effect on the value of the Shares of the Trust. Factors that may |
Note 8 - Investment Valuation
Note 8 - Investment Valuation | 1 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 8 U.S. GAAP defines fair value as the price the Trust would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Trust’s policy is to value its investment at fair value. Various inputs are used in determining the fair value of assets and liabilities. Inputs may may three three Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 Inputs other than quoted prices included within Level 1 not Level 3 Unobservable inputs that are unobservable for the asset or liability, including the Trust’s assumptions used in determining the fair value of investments. At June 30, 2024, 1. |
Note 9 - Subsequent Event
Note 9 - Subsequent Event | 1 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 9 1 July 22, 2024 July 23, 2024. twelve July 23, 2024, first Other than the items noted above there were no |
Insider Trading Arrangements
Insider Trading Arrangements | 1 Months Ended |
Jun. 30, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 5. Not |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 1 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | A. Basis of Accounting The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Investment, Policy [Policy Text Block] | B. Ether Coinbase Custody Trust Company, LLC (the “Ether Custodian”) is responsible for safekeeping the ether owned by the Trust. The Ether Custodian is appointed by the Trustee. The net asset value of the Trust equals the total assets of the Trust, which consists solely of ether and cash, less total liabilities of the Trust, each determined by the Trustee pursuant to policies established from time to time by the Trustee or its affiliates or otherwise described herein. The Trust’s periodic financial statements are prepared in accordance with the Financial Accounting Standards Board Accounting Standards Codification Topic 820, 820” 11:59 third third The Sponsor has the exclusive authority to determine the Trust’s net asset value, which it has delegated to the Trustee under the Trust Agreement. The Trustee has delegated to the Trust Administrator the responsibility to calculate the net asset value of the Trust and the net asset value per Share (“NAV”), based on a pricing source selected by the Trustee. In determining the Trust’s net asset value, the Trust Administrator values the ether held by the Trust based on an index (the “Index”), unless the Sponsor in its sole discretion determines that the Index is unreliable. The methodology used to calculate the Index price to value ether in determining the net asset value of the Trust may not not not not may Additionally, the Trust Administrator monitors for unusual prices and escalates to the Trustee if detected. If the CF Benchmarks Index is not 4:00 4:00 not 5:30 no 8:00 4:00 5:30 The Trust’s periodic financial statements may not not Gain or loss on sales of ether is calculated on a trade date basis using the average cost method. The following table summarizes activity in ether for the period from May 21, 2024 ( June 30, 2024: Period from May 21, 2024 (Date of Seeding) to June 30, 2024 Quantity Cost Fair Value Realized Beginning balance — $ — $ — $ — Ether purchased 3,031 10,000,000 10,000,000 — Ether sold for the redemption of shares — — — — Ether sold to pay expenses — — — — Net realized gain — — — — Net change in unrealized appreciation/depreciation — — 590,295 — Ending balance 3,031 $ 10,000,000 $ 10,590,295 $ — |
Calculation of Net Asset Value [Policy Text Block] | C. Calculation of Net Asset Value On each Business Day, as soon as practicable after 4:00 |
Cash and Cash Equivalents, Policy [Policy Text Block] | D. Cash and Cash Equivalents Cash includes non-interest bearing, non-restricted cash maintained with one not |
Income Tax, Policy [Policy Text Block] | E. Federal Income Taxes The Trust is treated as a grantor trust for federal income tax purposes and, therefore, no June 30, 2024 not |
Schedule of Investments (Unau_2
Schedule of Investments (Unauduited) (Tables) | 1 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Investment [Table Text Block] | Description Quantity Cost Fair Value Ether 3,031 $ 10,000,000 $ 10,590,295 Total Investments — 100.00 10,590,295 Less Liabilities — 0.00 (420 ) Net Assets — 100.00 $ 10,589,875 |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Tables) | 1 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Activity in Ether [Table Text Block] | Period from May 21, 2024 (Date of Seeding) to June 30, 2024 Quantity Cost Fair Value Realized Beginning balance — $ — $ — $ — Ether purchased 3,031 10,000,000 10,000,000 — Ether sold for the redemption of shares — — — — Ether sold to pay expenses — — — — Net realized gain — — — — Net change in unrealized appreciation/depreciation — — 590,295 — Ending balance 3,031 $ 10,000,000 $ 10,590,295 $ — |
Schedule of Investments (Unaudi
Schedule of Investments (Unaudited) - Investments (Details) | Jun. 30, 2024 USD ($) | May 21, 2024 USD ($) |
Ether | 3,031 | 0 |
Investment in ether, at cost | $ 10,000,000 | $ 0 |
Ether fair value | 10,590,295 | |
Other Assets less Liabilities | (420) | |
Net Assets | $ 10,589,875 | $ 0 |
Schedule of Investments (Unau_3
Schedule of Investments (Unaudited) - Investments (Details) (Parentheticals) | Jun. 30, 2024 |
Total investment, percentage of net asset value | 100% |
Other Assets less liabilities, percentage of net asset value | 0% |
Net assets, percentage of net asset value | 100% |
Note 1 - Organization (Details
Note 1 - Organization (Details Textual) | 1 Months Ended | ||
Jun. 24, 2024 | May 21, 2024 USD ($) $ / shares shares | Jun. 30, 2024 shares | |
Stock Issued During Period, Shares, New Issues (in shares) | 400,000 | ||
Ether Purchased | 3,031 | 3,031 | |
Sponsors Fee Annualized Accrual Rate Based on Daily Net Asset Value | 0.25% | 0.25% | |
BlackRock Financial Management, Inc. [Member] | |||
Stock Issued During Period, Shares, New Issues (in shares) | 400,000 | ||
Stock Issued During Period, Value, New Issues | $ | $ 10,000,000 | ||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 25 |
Note 2 - Significant Accounti_3
Note 2 - Significant Accounting Policies - Activity in Ether (Details) | 1 Months Ended | ||
Jun. 24, 2024 | Jun. 30, 2024 USD ($) | ||
Beginning balance | 0 | ||
Beginning balance, average cost | $ 0 | ||
Beginning balance, fair value | $ 0 | ||
Ether purchased | 3,031 | 3,031 | |
Ether purchased, average cost | $ 10,000,000 | ||
Ether purchased, fair value | $ 10,000,000 | ||
Ether sold for the redemption of shares | 0 | ||
Ether sold for the redemption of shares, average cost | $ 0 | ||
Ether sold for the redemption of shares, fair value | 0 | ||
Ether sold for the redemption of shares, realized gain (loss) | $ 0 | ||
Ether sold to pay expenses | 0 | ||
Ether sold to pay expenses, average cost | $ 0 | ||
Ether sold to pay expenses, fair value | 0 | ||
Ether sold to pay expenses, realized gain (loss) | 0 | ||
Net realized gain, fair value | 0 | ||
Net change in unrealized appreciation/depreciation, fair value | $ 590,295 | ||
Ending balance | 3,031 | ||
Ending balance, average cost | $ 10,000,000 | ||
Ending balance, fair value | [1] | 10,590,295 | |
Ending balance, realized gain (loss) | $ 0 | ||
[1]Cost of investment in ether is $10,000,000. |
Note 3 - Trust Expenses (Detail
Note 3 - Trust Expenses (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |
Jun. 24, 2024 | Jun. 30, 2024 | Jul. 23, 2025 | |
Sponsors Fee Annualized Accrual Rate Based on Daily Net Asset Value | 0.25% | 0.25% | |
Sponsor's Fees | $ 420 | ||
Maximum [Member] | |||
Legal Fees Per Year | $ 500,000 | ||
Forecast [Member] | |||
Sponsors Fee After Fee Waiver, Percentage | 0.12% | ||
Maximum Amount of Trust Assets for Sponsor's Fee After Fee Waiver | $ 2,500,000,000 |
Note 4 - Related Parties (Detai
Note 4 - Related Parties (Details Textual) - BlackRock Financial Management, Inc. [Member] | Jun. 30, 2024 shares |
Shares, Issued (in shares) | 400,000 |
Ownership Percentage | 100% |
Note 5 - Indemnification (Detai
Note 5 - Indemnification (Details Textual) | Jun. 30, 2024 shares |
Shares Prescribed Aggregation (in shares) | 40,000 |
Note 9 - Subsequent Event (Deta
Note 9 - Subsequent Event (Details Textual) - Forecast [Member] $ in Billions | 12 Months Ended |
Jul. 23, 2025 USD ($) | |
Sponsors Fee After Fee Waiver, Percentage | 0.12% |
Maximum Amount of Trust Assets for Sponsor's Fee After Fee Waiver | $ 2.5 |