Cover Page
Cover Page - shares | 1 Months Ended | |
Jun. 30, 2024 | Aug. 12, 2024 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2024 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --12-31 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 001-42169 | |
Entity Registrant Name | FRANKLIN ETHEREUM TRUST | |
Entity Central Index Key | 0002011535 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 99-6268769 | |
Entity Address, Address Line One | One Franklin Parkway | |
Entity Address, City or Town | San Mateo | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94403 | |
City Area Code | 650 | |
Local Phone Number | 312-2000 | |
Title of 12(b) Security | Franklin Ethereum ETF Shares | |
Trading Symbol | EZET | |
Security Exchange Name | CboeBZX | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Interactive Data Current | Yes | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,500,000 |
Combined Statement of Assets an
Combined Statement of Assets and Liabilities | Jun. 30, 2024 USD ($) $ / shares shares | [2] |
Assets: | ||
Investment in ether, at fair value | $ 2,655,676 | [1] |
Total assets | 2,655,676 | |
Liabilities: | ||
Total expenses payable | ||
Total liabilities | ||
Net assets | $ 2,655,676 | |
Shares issued and outstanding | shares | 100,000 | [3] |
Net asset value per Share | $ / shares | $ 26.56 | |
Franklin Ethereum ETF [Member] | ||
Assets: | ||
Investment in ether, at fair value | $ 2,655,676 | [1] |
Total assets | 2,655,676 | |
Liabilities: | ||
Total expenses payable | ||
Total liabilities | ||
Net assets | $ 2,655,676 | |
Shares issued and outstanding | shares | 100,000 | [3] |
Net asset value per Share | $ / shares | $ 26.56 | |
[1]Cost of investment in ether: $2,620,289 at June 30, 2024[2]No comparative period presented as fund inception was May 21, 2024.[3]No par value, unlimited amount authorized. |
Combined Statement of Assets _2
Combined Statement of Assets and Liabilities (Parenthetical) | 1 Months Ended |
Jun. 30, 2024 USD ($) $ / shares | |
Investment in ether | $ | $ 2,620,289 |
Common stock, no par value | $ / shares | $ 0 |
Common stock, shares authorized, unlimited | Unlimited |
Franklin Ethereum ETF [Member] | |
Investment in ether | $ | $ 2,620,289 |
Common stock, no par value | $ / shares | $ 0 |
Common stock, shares authorized, unlimited | Unlimited |
Combined Schedule of Investment
Combined Schedule of Investments | Jun. 30, 2024 USD ($) BTC | |
Cost | $ 2,620,289 | |
Fair Value | 2,655,676 | [1],[2] |
Franklin Ethereum ETF [Member] | ||
Cost | 2,620,289 | |
Fair Value | $ 2,655,676 | [1],[2] |
Investment in ether [Member] | ||
Quantity of Bitcoin | BTC | 760 | [2] |
Cost | $ 2,620,289 | [2] |
Fair Value | $ 2,655,676 | [2] |
% of Net Assets | 100% | [2] |
Investment in ether [Member] | Franklin Ethereum ETF [Member] | ||
Quantity of Bitcoin | BTC | 760 | [2] |
Cost | $ 2,620,289 | [2] |
Fair Value | $ 2,655,676 | [2] |
% of Net Assets | 100% | [2] |
Total Investment [Member] | ||
Cost | $ 2,620,289 | [2] |
Fair Value | $ 2,655,676 | [2] |
% of Net Assets | 100% | [2] |
Total Investment [Member] | Franklin Ethereum ETF [Member] | ||
Cost | $ 2,620,289 | [2] |
Fair Value | $ 2,655,676 | [2] |
% of Net Assets | 100% | [2] |
Liabilities in excess of other assets [Member] | ||
Fair Value | [2] | |
% of Net Assets | [2] | |
Liabilities in excess of other assets [Member] | Franklin Ethereum ETF [Member] | ||
Fair Value | $ 0 | [2] |
% of Net Assets | 0% | [2] |
Net Assets [Member] | ||
Fair Value | $ 2,655,676 | [2] |
% of Net Assets | 100% | [2] |
Net Assets [Member] | Franklin Ethereum ETF [Member] | ||
Fair Value | $ 2,655,676 | [2] |
% of Net Assets | 100% | [2] |
[1]Cost of investment in ether: $2,620,289 at June 30, 2024[2]No comparative period presented as fund inception was May 21, 2024. |
Combined Statement of Operation
Combined Statement of Operations | 1 Months Ended | |
Jun. 30, 2024 USD ($) $ / shares | [1] | |
Expenses: | ||
Total expenses | ||
Less waiver and reimbursement | ||
Net investment loss | ||
Net realized and change in unrealized gain (loss) on investment in ether: | ||
Net realized gain (loss) on investment in ether | ||
Net change in unrealized appreciation (depreciation) on investment in ether | 35,387 | [2] |
Net realized and change in unrealized appreciation (depreciation) on investment in ether | 35,387 | |
Net increase (decrease) in net assets resulting from operations | $ 35,387 | [2] |
Net increase (decrease) in net assets per Share | $ / shares | $ 0.35 | [3],[4] |
Franklin Ethereum ETF [Member] | ||
Expenses: | ||
Total expenses | ||
Less waiver and reimbursement | ||
Net investment loss | ||
Net realized and change in unrealized gain (loss) on investment in ether: | ||
Net realized gain (loss) on investment in ether | ||
Net change in unrealized appreciation (depreciation) on investment in ether | 35,387 | [2] |
Net realized and change in unrealized appreciation (depreciation) on investment in ether | 35,387 | |
Net increase (decrease) in net assets resulting from operations | $ 35,387 | [2] |
Net increase (decrease) in net assets per Share | $ / shares | $ 0.35 | [3] |
[1]No comparative period presented as fund inception was May 21, 2024. On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024.[2]No comparative period presented as fund inception was May 21, 2024.[3]Net increase (decrease) in net assets per Share based on average shares outstanding during the period.[4]The amount shown for a share outstanding may not agree with the change in the aggregate gains and losses on investment for the period because of the timing of transactions in the Fund’s shares in relation to fluctuating market values for the Fund’s underlying investment. |
Combined Statement of Operati_2
Combined Statement of Operations (Parenthetical) | 1 Months Ended | |||
Jun. 27, 2024 USD ($) Ether $ / shares shares | May 21, 2024 USD ($) $ / shares shares | Jun. 30, 2024 USD ($) shares | ||
Proceeds from the issuance of common stock | $ | [1],[2] | $ 2,720,289 | ||
Initial Seed Shares [Member] | ||||
Stock issued during the period shares new issues | shares | 4,000 | |||
Sale of stock issue price per share | $ / shares | $ 25 | |||
Proceeds from the issuance of common stock | $ | $ 100,000 | |||
Payment to redeem common stock | $ | $ 100,000 | $ 100,000 | ||
Common Stock Backed Up By Units [Member] | ||||
Stock issued during the period shares new issues | shares | 100,000 | |||
Creation Units Ether [Member] | ||||
Stock issued during the period shares new issues | shares | 2 | |||
Seed Creation Ether Units [Member] | ||||
Stock issued during the period shares new issues | shares | 760 | |||
Sale of stock issue price per share | $ / shares | $ 3,446.37 | |||
Proceeds from the issuance of common stock | $ | $ 2,619,241.2 | |||
Ratio per creation unit based on share price | Ether | 380 | |||
Franklin Ethereum ETF [Member] | ||||
Proceeds from the issuance of common stock | $ | [1],[2] | $ 2,720,289 | ||
Franklin Ethereum ETF [Member] | Initial Seed Shares [Member] | ||||
Stock issued during the period shares new issues | shares | 4,000 | 4,000 | ||
Sale of stock issue price per share | $ / shares | $ 25 | |||
Proceeds from the issuance of common stock | $ | $ 100,000 | $ 100,000 | ||
Payment to redeem common stock | $ | $ 100,000 | |||
Franklin Ethereum ETF [Member] | Common Stock Backed Up By Units [Member] | ||||
Stock issued during the period shares new issues | shares | 100,000 | |||
Ratio per creation unit based on share price | Ether | 380 | |||
Franklin Ethereum ETF [Member] | Creation Units Ether [Member] | ||||
Stock issued during the period shares new issues | shares | 2 | |||
Franklin Ethereum ETF [Member] | Seed Creation Ether Units [Member] | ||||
Stock issued during the period shares new issues | shares | 760 | |||
Sale of stock issue price per share | $ / shares | $ 3,446.37 | $ 25 | ||
Proceeds from the issuance of common stock | $ | $ 2,619,241.2 | |||
Ratio per creation unit based on share price | Ether | 380 | |||
[1]No comparative period presented as fund inception was May 21, 2024.[2]On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024. |
Combined Statement of Cash Flow
Combined Statement of Cash Flows | 1 Months Ended | |
Jun. 30, 2024 USD ($) | [1] | |
Cash Flows from operations resulting from capital share transactions | ||
Net Income (Loss) | $ 35,387 | [2] |
Adjustments to reconcile net increase (decrease) in net assets resulting from operations from capital share transactions to net cash provided by (used in) operating activities: | ||
Purchases of ether | (2,620,289) | |
Net realized (gain) loss on investment in ether | 0 | |
Net change in unrealized (appreciation) depreciation on investment in ether | (35,387) | [2] |
Change in operating assets and liabilities: | ||
Sponsor's fees payable | ||
Net cash provided by (used in) operating activities | (2,620,289) | |
Proceeds from issuance of Shares | 2,720,289 | [3] |
Payments on Shares redeemed | (100,000) | |
Net cash provided by (used in) financing activities | 2,620,289 | |
Cash Flows from Financing Activities: | ||
Net increase in cash | ||
Cash, beginning of period | ||
Cash, end of period | ||
Franklin Ethereum ETF [Member] | ||
Cash Flows from operations resulting from capital share transactions | ||
Net Income (Loss) | 35,387 | [2] |
Adjustments to reconcile net increase (decrease) in net assets resulting from operations from capital share transactions to net cash provided by (used in) operating activities: | ||
Purchases of ether | (2,620,289) | |
Net realized (gain) loss on investment in ether | 0 | |
Net change in unrealized (appreciation) depreciation on investment in ether | (35,387) | [2] |
Change in operating assets and liabilities: | ||
Sponsor's fees payable | ||
Net cash provided by (used in) operating activities | (2,620,289) | |
Proceeds from issuance of Shares | 2,720,289 | [3] |
Payments on Shares redeemed | (100,000) | |
Net cash provided by (used in) financing activities | 2,620,289 | |
Cash Flows from Financing Activities: | ||
Net increase in cash | ||
Cash, beginning of period | ||
Cash, end of period | ||
[1]No comparative period presented as fund inception was May 21, 2024.[2]No comparative period presented as fund inception was May 21, 2024. On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024.[3]On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024. |
Combined Statement of Cash Fl_2
Combined Statement of Cash Flows (Parenthetical) | 1 Months Ended | |||
Jun. 27, 2024 USD ($) Ether $ / shares shares | May 21, 2024 USD ($) $ / shares shares | Jun. 30, 2024 USD ($) shares | ||
Proceeds from Issuance of Common Stock | $ | [1],[2] | $ 2,720,289 | ||
Initial Seed Shares [Member] | ||||
Stock issued during the period shares new issues | shares | 4,000 | |||
Proceeds from Issuance of Common Stock | $ | $ 100,000 | |||
Payments for Repurchase of Common Stock | $ | $ 100,000 | $ 100,000 | ||
Shares Issued, Price Per Share | $ / shares | $ 25 | |||
Seed Creation Ether Units [Member] | ||||
Stock issued during the period shares new issues | shares | 760 | |||
Ratio Per Creation Unit Based on Share Price | Ether | 380 | |||
Proceeds from Issuance of Common Stock | $ | $ 2,619,241.2 | |||
Shares Issued, Price Per Share | $ / shares | $ 3,446.37 | |||
Common Stock Backed Up By Units [Member] | ||||
Stock issued during the period shares new issues | shares | 100,000 | |||
Creation Units Ether [Member] | ||||
Stock issued during the period shares new issues | shares | 2 | |||
Franklin Ethereum ETF [Member] | ||||
Proceeds from Issuance of Common Stock | $ | [1],[2] | $ 2,720,289 | ||
Franklin Ethereum ETF [Member] | Initial Seed Shares [Member] | ||||
Stock issued during the period shares new issues | shares | 4,000 | 4,000 | ||
Proceeds from Issuance of Common Stock | $ | $ 100,000 | $ 100,000 | ||
Payments for Repurchase of Common Stock | $ | $ 100,000 | |||
Shares Issued, Price Per Share | $ / shares | $ 25 | |||
Franklin Ethereum ETF [Member] | Seed Creation Ether Units [Member] | ||||
Stock issued during the period shares new issues | shares | 760 | |||
Ratio Per Creation Unit Based on Share Price | Ether | 380 | |||
Proceeds from Issuance of Common Stock | $ | $ 2,619,241.2 | |||
Shares Issued, Price Per Share | $ / shares | $ 3,446.37 | $ 25 | ||
Franklin Ethereum ETF [Member] | Common Stock Backed Up By Units [Member] | ||||
Stock issued during the period shares new issues | shares | 100,000 | |||
Ratio Per Creation Unit Based on Share Price | Ether | 380 | |||
Franklin Ethereum ETF [Member] | Creation Units Ether [Member] | ||||
Stock issued during the period shares new issues | shares | 2 | |||
[1]No comparative period presented as fund inception was May 21, 2024.[2]On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024. |
Combined Statement of Changes I
Combined Statement of Changes In Net Assets | 1 Months Ended | |
Jun. 30, 2024 USD ($) | [1] | |
Net assets, beginning of period | ||
Net investment loss | ||
Net realized gain (loss) on investment in ether | ||
Net change in unrealized appreciation (depreciation) on investment in ether | 35,387 | |
Net increase (decrease) in net assets resulting from operations | 35,387 | |
Increase (decrease) in net assets from capital share transactions: | ||
Contributions for Shares issued | 2,720,289 | [2] |
Distributions for Shares redeemed | (100,000) | |
Net increase in net assets resulting from capital share transactions | 2,620,289 | |
Net assets, end of period | 2,655,676 | |
Franklin Ethereum ETF [Member] | ||
Net assets, beginning of period | ||
Net investment loss | ||
Net realized gain (loss) on investment in ether | ||
Net change in unrealized appreciation (depreciation) on investment in ether | 35,387 | |
Net increase (decrease) in net assets resulting from operations | 35,387 | |
Increase (decrease) in net assets from capital share transactions: | ||
Contributions for Shares issued | 2,720,289 | [2] |
Distributions for Shares redeemed | (100,000) | |
Net increase in net assets resulting from capital share transactions | 2,620,289 | |
Net assets, end of period | $ 2,655,676 | |
[1]No comparative period presented as fund inception was May 21, 2024.[2]On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. |
Combined Statement of Changes_2
Combined Statement of Changes in Net Assets (Parenthetical) | 1 Months Ended | |||
Jun. 27, 2024 USD ($) Ether $ / shares shares | May 21, 2024 USD ($) $ / shares shares | Jun. 30, 2024 USD ($) shares | ||
Proceeds from Issuance of Common Stock | $ | [1],[2] | $ 2,720,289 | ||
Initial Seed Shares [Member] | ||||
Stock issued during the period shares new issues | shares | 4,000 | |||
Payments for Repurchase of Common Stock | $ | $ 100,000 | $ 100,000 | ||
Proceeds from Issuance of Common Stock | $ | $ 100,000 | |||
Shares Issued, Price Per Share | $ / shares | $ 25 | |||
Seed Creation Ether Units [Member] | ||||
Stock issued during the period shares new issues | shares | 760 | |||
Ratio Per Creation Unit Based on Share Price | Ether | 380 | |||
Proceeds from Issuance of Common Stock | $ | $ 2,619,241.2 | |||
Shares Issued, Price Per Share | $ / shares | $ 3,446.37 | |||
Common Stock Backed Up By Units [Member] | ||||
Stock issued during the period shares new issues | shares | 100,000 | |||
Creation Units Ether [Member] | ||||
Stock issued during the period shares new issues | shares | 2 | |||
Franklin Ethereum ETF [Member] | ||||
Proceeds from Issuance of Common Stock | $ | [1],[2] | $ 2,720,289 | ||
Franklin Ethereum ETF [Member] | Initial Seed Shares [Member] | ||||
Stock issued during the period shares new issues | shares | 4,000 | 4,000 | ||
Payments for Repurchase of Common Stock | $ | $ 100,000 | |||
Proceeds from Issuance of Common Stock | $ | $ 100,000 | $ 100,000 | ||
Shares Issued, Price Per Share | $ / shares | $ 25 | |||
Franklin Ethereum ETF [Member] | Seed Creation Ether Units [Member] | ||||
Stock issued during the period shares new issues | shares | 760 | |||
Ratio Per Creation Unit Based on Share Price | Ether | 380 | |||
Proceeds from Issuance of Common Stock | $ | $ 2,619,241.2 | |||
Shares Issued, Price Per Share | $ / shares | $ 3,446.37 | $ 25 | ||
Franklin Ethereum ETF [Member] | Common Stock Backed Up By Units [Member] | ||||
Stock issued during the period shares new issues | shares | 100,000 | |||
Ratio Per Creation Unit Based on Share Price | Ether | 380 | |||
Franklin Ethereum ETF [Member] | Creation Units Ether [Member] | ||||
Stock issued during the period shares new issues | shares | 2 | |||
[1]No comparative period presented as fund inception was May 21, 2024.[2]On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 1 Months Ended | |
Jun. 30, 2024 USD ($) | ||
Pay vs Performance Disclosure | ||
Net Income (Loss) | $ 35,387 | [1],[2] |
[1]No comparative period presented as fund inception was May 21, 2024.[2]No comparative period presented as fund inception was May 21, 2024. On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024. |
Insider Trading Arrangements
Insider Trading Arrangements | 1 Months Ended |
Jun. 30, 2024 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Organization
Organization | 1 Months Ended |
Jun. 30, 2024 | |
Organization | 1. ORGANIZATION The Franklin Ethereum Trust (the “Trust”) was formed as a Delaware statutory trust on February 8, 2024, and is governed by the provisions of an Amended and Restated Agreement and Declaration of Trust dated as of May 30, 2024. The Trust is not registered as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”) and is not a commodity pool for purposes of the Commodity Exchange Act (“CEA”). The accompanying financial statements relate to the Trust, as registrant, and the one series that it currently offers, the Franklin Ethereum ETF (the “Fund”) presented on a combined basis. Separate, series-level financial statements are provided for the Fund in another section of this report. The Trust had no operations prior to The Fund seeks to reflect generally the performance of the price of ether. The Fund seeks to reflect such performance before payment of the Fund’s expenses and liabilities. The Shares are intended to constitute a simple means of making an investment similar to an investment in ether rather than by acquiring, holding, and trading ether directly on a peer-to-peer The Bank of New York Mellon (“BNYM”) serves as the Fund’s Administrator, Transfer Agent and the Cash Custodian. The Administrator is generally responsible for the day-to-day The Fund issues Shares only to certain eligible institutions called Authorized Participants and only in one or more blocks of Shares (“Creation Units”). Creation Units are directly redeemable only by Authorized Participants. Creation Units are issued and redeemed in exchange for cash. The Shares are listed and traded on the Exchange under the ticker symbol “ .” The market price of the Shares may be different than the Fund’s NAV per Share. The Fund issues Shares in Creation Units on a continuous basis at the applicable NAV per Share on the creation order date. Except when aggregated in Creation Units, the Shares are not redeemable securities. The Fund is an “emerging growth company” as that term is used in the Securities Act, and, as such, the Fund may elect to comply with certain reduced public company reporting requirements. On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share The statement of assets and liabilities and schedule of investments on June 30, 2024, and the statements of operations, cash flows and changes in net assets for the period ended June 30, 2024, have been prepared on behalf of the Trust and are unaudited. In the opinion of management of the Sponsor of the Trust, all adjustments (which include normal recurring adjustments) necessary to state fairly the financial position and results of operations for the period ended June 30, 2024, and for all interim periods stated have been made. In addition, interim period results are not necessarily indicative of results for a full-year period. As the Fund had no operations prior to the initial seeding on May 21, 2024, there are no comparative statements. The fiscal year of the Trust and the Fund is March 31st. |
Franklin Ethereum ETF [Member] | |
Organization | 1. ORGANIZATION The Franklin Ethereum Trust (the “Trust”) was formed as a Delaware statutory trust on February 8, 2024, and is governed by the provisions of an Amended and Restated Agreement and Declaration of Trust dated as of May 30, 2024. The Trust is not registered as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”) and is not a commodity pool for purposes of the Commodity Exchange Act (“CEA”). The accompanying financial statements relate to the one series that the Trust currently offers, the Franklin Ethereum ETF (the “Fund”). The Trust had no operations prior to May 21, 2024, other than matters relating to its organization and the registration of the Fund under the Securities Act of 1933, as amended (the “Securities Act”). The Sponsor of the Trust and the Fund (the “Sponsor”) is Franklin Holdings, LLC. The Sponsor is a Delaware limited liability company formed on July 21, 2021. The Sponsor is not subject to regulation by the Commodity Futures Trading Commission (“CFTC”) as a commodity pool operator with respect to the Fund, or a commodity trading advisor with respect to the Fund. The Fund issues shares (the “Shares”), which represent units of fractional undivided beneficial interest in the Fund. The Shares of the Fund are listed on the Cboe BZX Exchange, Inc. (“Cboe BZX Exchange” or the “Exchange”). The Fund seeks to reflect generally the performance of the price of ether. The Fund seeks to reflect such performance before payment of the Fund’s expenses and liabilities. The Shares are intended to constitute a simple means of making an investment similar to an investment in ether rather than by acquiring, holding, and trading ether directly on a peer-to-peer The Bank of New York Mellon (“BNYM”) serves as the Fund’s Administrator, Transfer Agent and the Cash Custodian. The Administrator is generally responsible for the day-to-day The Fund issues Shares only to certain eligible institutions called Authorized Participants and only in one or more blocks of Shares (“Creation Units”). Creation Units are directly redeemable only by Authorized Participants. Creation Units are issued and redeemed in exchange for cash. The Shares are listed and traded on the Exchange under the ticker symbol “ .” The market price of the Shares may be different than the Fund’s NAV per Share. The Fund issues Shares in Creation Units on a continuous basis at the applicable NAV per Share on the creation order date. Except when aggregated in Creation Units, the Shares are not redeemable securities. The Fund is an “emerging growth company” as that term is used in the Securities Act, and, as such, the Fund may elect to comply with certain reduced public company reporting requirements. On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share The statement of assets and liabilities and schedule of investments on June 30, 2024, and the statements of operations, cash flows and changes in net assets for the period ended June 30, 2024, have been prepared on behalf of the Trust as registrant, combined with its one currently offered series, the Fund (included above in a separate section of this report), and for the Fund separately, and are unaudited. In the opinion of management of the Sponsor of the Trust, all adjustments (which include normal recurring adjustments) necessary to state fairly the financial position and results of operations for the period ended June 30, 2024, and for all interim periods stated have been made. In addition, interim period results are not necessarily indicative of results for a full-year period. As the Fund had no operations prior to the initial seeding on May 21, 2024, there are no comparative statements. The fiscal year of the Trust and the Fund is March 31st. |
Significant Accounting Policies
Significant Accounting Policies | 1 Months Ended |
Jun. 30, 2024 | |
Significant Accounting Policies | 2. SIGNIFICANT ACCOUNTING POLICIES In preparing financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”), management of the Sponsor makes estimates and assumptions that affect the reported amounts of assets, liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amount of revenue and expenses reported during the period. Actual results could differ from these estimates. The following is a summary of significant accounting policies followed by the Trust and the Fund. 2.1. Basis of Presentation The Sponsor has determined that the Trust falls within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and has concluded that solely for accounting purposes, the Trust is classified as an Investment Company. The Trust is not registered as an investment company under the Investment Company Act of 1940 and is not required to register under such act. The financial statements are presented for the Trust, as the registrant, combined with the Fund. Financial statements for the Fund presented at the series-level are provided separately in this report. For the periods presented, there were no balances or activity for the Trust except for the Fund’s operations, as its sole series and these notes to the financial statements relate to the Trust, as the registrant, combined with the Fund. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Fund are enforceable only against the assets of the Fund and not against the assets of the Trust generally or any other series that the Trust may establish. Individual, series-level financial statements for the Fund are presented separately within this report. 2.2. Calculation of NAV and NAV per Share The Sponsor has the exclusive authority to determine the Fund’s net asset value (“NAV”). The Sponsor has delegated to the Administrator the responsibility to calculate the NAV of the Fund, based on a pricing source selected by the Sponsor. In determining the Fund’s NAV, the Administrator will value the ether held by the Fund based on the Index, unless the Sponsor in its sole discretion determines that the index is unreliable. The CME CF Ether Reference Rate – New York Variant for the Ether – U.S. Dollar trading pair (the “CF Benchmarks Index”) shall constitute the Index, unless the CF Benchmarks Index is not available or the Sponsor in its sole discretion determines the CF Benchmarks Index is unreliable as the Index and therefore determines not to use the CF Benchmarks Index as the Index. If the CF Benchmarks Index is not available or the Sponsor determines, in its sole discretion, that the CF Benchmarks Index is unreliable (referred to herein as a “Fair Value Event”), the Fund’s holdings may be fair valued by the Sponsor. On each Business Day, as soon as practicable after 4:00 p.m. Eastern Time (“ET”), the Administrator evaluates the ether held by the Fund as reflected by the CF Benchmarks Index and determines the NAV of the Fund. For purposes of making 2.3. Valuation The Fund’s financial statements are prepared in accordance GAAP for interim financial information. Ether is priced at 11:59:59PM ET. With respect to the Fund’s ether holdings, the Trust will follow the provisions of the Financial Accounting Standards Board Accounting Standards Codification Topic 820, “Fair Value Measurements and Disclosures” (“ASC Topic 820”) and utilize an exchange-traded price from the Fund’s principal market (or in the absence of a principal market, the most advantageous market) for ether as of the Fund’s financial statement measurement date. ASC 820 established a hierarchy that prioritized inputs to valuation techniques used to measure fair value. The three levels of inputs are: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3: Inputs that are unobservable for the asset or liability, including the Fund’s assumptions used in determining the fair value of investments. On June 30, 2024, the value of the ether held by the Fund is categorized as Level 1. The cost basis of the investment in ether recorded by the Trust on behalf of the Fund for financial reporting purposes is the fair value of ether at the time of transfer. 2.4. Fees, Expenses and Realized Gain (Loss) The Fund’s only ordinary recurring expense will be the Sponsor’s fee. In exchange for the Sponsor’s fee, the Sponsor has agreed to assume the ordinary fees and expenses incurred by the Fund, including but not limited to the following: the fees charged by the Administrator , the Marketing Agent , the Custodians and the Trustee, Cboe BZX Exchange listing fees, typical maintenance and transaction fees of the DTC, SEC registration fees, printing and mailing costs, tax reporting fees, audit fees, license fees and expenses, and The Sponsor’s fee is accrued daily at an annualized rate equal 0.19% of the net asset value of the Fund and is payable at least quarterly in arrears in U.S. dollars or in-kind For a period commencing on the day the Shares are initially listed on the Exchange to January 31, 2025, the Sponsor has agreed to As of June 30, 2024, the Fund had not yet incurred or paid any fee to the Sponsor because the Fund had not yet commenced operations. Shares of the Fund were first listed for trading on the Exchange on July 23, 2024. The Sponsor is not required to pay any extraordinary or non-routine non-recurring non-routine Sponsor at least quarterly in arrears. The Fund may also be subject to other liabilities (for example, as a result of litigation) that have also not been assumed by the Sponsor. The only source of funds to cover those liabilities will be sales of ether held by the Fund. Even if there are no expenses other than those assumed by the Sponsor, and there are no other liabilities of the Fund, the Fund will still need to sell ether to pay the Sponsor’s fee. The result of these sales is a decrease in the amount of ether represented by each Share. To cover the Sponsor’s fee and expenses not assumed by the Sponsor, the Sponsor or its delegate will cause the Fund to convert ether into U.S. dollars generally at the price available through the Prime Broker’s Coinbase Prime service (less applicable trading fees) through the Trading Platform which the Sponsor is able to obtain using commercially reasonable efforts. The number of ethers represented by a Share will decline each time the Fund pays the Sponsor’s fee or any Fund expenses not assumed by the Sponsor by transferring or selling ethers. The quantity of ethers to be sold to permit payment of the Sponsor’s fee or Fund expenses not assumed by the Sponsor, will vary from time to time depending on the level of the 2.5. Organizational and Offering Costs The Trust’s and the Fund’s organizational and offering costs are borne by the Sponsor and, as such, are the sole responsibility of the Sponsor. The Sponsor will not seek reimbursement or otherwise require the Fund, the Trust, the Trustee or any Shareholder to assume any liability, duty or obligation in connection with any such organizational and offering costs. 2.6. Income Taxes The Fund is classified as a “grantor trust” for United States federal income tax purposes. As a result, the Trust and the Fund are not subject to United States federal income tax. Instead, the Fund’s income, gain, losses, and expenses will “flow through” to the shareholders, and the Administrator reports these to the Internal Revenue Service on that basis. The Sponsor has analysed applicable tax laws and regulations and their application to the Fund 2.7. Creation and Redemption of Shares The Fund issues and redeems Creation Units on a continuous basis. Creation Units are issued or redeemed in exchange for an amount of cash as determined by the Administrator on each day that Cboe BZX Exchange is open for regular trading. For creation transactions, the amount of cash required to be delivered to the Fund will equal the amount of cash needed to purchase the amount of ether represented by the Creation Unit(s) being created, as calculated by the Administrator, plus applicable fees, costs and adjustments. For redemption transactions, the Sponsor will arrange for the ether represented by the Creation Unit(s) being redeemed to be sold and the cash proceeds, after applicable fees, costs and adjustments, distributed. No Shares are issued until the corresponding amount of ether has been received in the Fund’s Trading Balance. Creation Units may be created or redeemed only by Authorized Participants, who pay (1) a transaction fee for each order to create or redeem Creation Units; (2) transfer, processing and other transaction costs charged by the Ether Custodian in connection with the issuance or redemption of Creation Units for such order; and (3) any other expenses, taxes, charges or adjustments. The Authorized Participants will deliver only cash to create Shares and will receive only cash when redeeming Shares. Further, Authorized Participants will not directly or indirectly purchase, hold, deliver, or receive ether as part of the creation or redemption process or otherwise direct the Fund or a third-party with respect to purchasing, holding, delivering, or receiving ether as part of the creation or redemption process. The Fund will create Shares by receiving ether from a third-party that is not the Authorized Participant and the Fund—not the Authorized Participant—is responsible for selecting the third-party to deliver the ether. Further, the third-party will not be acting as an agent of the Authorized Participant with respect to the delivery of the ether to the Fund or acting at the direction of the Authorized Participant with respect to the delivery of the ether to the Fund. The Fund will redeem shares by delivering ether to a third-party that is not the Authorized Participant and the Fund—not the Authorized Participant—is responsible for selecting the third-party to receive the ether. Further, the third-party will not be acting as an agent of the Authorized Participant with respect to the receipt of the ether from the Fund or acting at the direction of the Authorized Participant with respect to the receipt of the ether from the Fund. The third-party will be unaffiliated with the Fund and the Sponsor. Creation Units will be sold at a per-Share hat Changes in the Shares for the period from May 21, 2024 (Date of Inception) to June 30, 2024* are as follows: Shares Amount# Balance at May 21, 2024 (Date of inception) — $ — Creation of Shares 104,000 2,720,289^ Redemption of Shares (4,000 ) (100,000 ) Balance at June 30, 2024 100,000 $ 2,620,289 * No comparative period presented as fund inception was May 21, 2024. ^ On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share # Dollar amount of balance represents the cumulative fair value of creation of shares less the redemption of shares, at the time of the specific creation or redemption. 2. 8 Recently Issued Accounting Pronouncements In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): 2023-08”). 2023-08 2023-08 |
Franklin Ethereum ETF [Member] | |
Significant Accounting Policies | 2. SIGNIFICANT ACCOUNTING POLICIES In preparing financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”), management of the Sponsor makes estimates and assumptions that affect the reported amounts of assets, liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amount of revenue and expenses reported during the period. Actual results could differ from these estimates. The following is a summary of significant accounting policies followed by the Trust and the Fund. 2.1. Basis of Presentation The Sponsor has determined that the Trust falls within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and has concluded that solely for accounting purposes, the Trust is classified as an Investment Company. The Trust is not registered as an investment company under the Investment Company Act of 1940 and is not required to register under such act. The financial statements are presented for the Trust, as the registrant, combined with the Fund (in a separate section of this report) and for the Fund individually. For the periods presented, there were no balances or activity for the Trust except for the Fund’s operations, as its sole series and these notes to the financial statements relate to the Fund individually. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Fund are enforceable only against the assets of the Fund and not against the assets of the Trust generally or any other series that the Trust may establish. 2.2. Calculation of NAV and NAV per Share The Sponsor has the exclusive authority to determine the Fund’s net asset value (“NAV”). The Sponsor has delegated to the Administrator the responsibility to calculate the NAV of the Fund, based on a pricing source selected by the Sponsor. In determining the Fund’s NAV, the Administrator will value the ether held by the Fund based on the Index, unless the Sponsor in its sole discretion determines that the index is unreliable. The CME CF Ether Reference Rate—New York Variant for the Ether—U.S. Dollar trading pair (the “CF Benchmarks Index”) shall constitute the Index, unless the CF Benchmarks Index is not available or the Sponsor in its sole discretion determines the CF Benchmarks Index is unreliable as the Index and therefore determines not to use the CF Benchmarks Index as the Index. If the CF Benchmarks Index is not available or the Sponsor determines, in its sole discretion, that the CF Benchmarks Index is unreliable (referred to herein as a “Fair Value Event”), the Fund’s holdings may be fair valued by the Sponsor. On each Business Day, as soon as practicable after 4:00 p.m. Eastern Time (“ET”), the Administrator evaluates the ether held by the Fund as reflected by the CF Benchmarks Index and determines the NAV of the Fund. For purposes of making these calculations, a Business Day means any day other than a day when the Cboe BZX Exchange is closed for regular trading. The Fund’s periodic financial statements may not utilize this net asset value of the Fund to the extent the methodology used to calculate the Index is deemed not to be consistent with GAAP 2.3. Valuation The Fund’s financial statements are prepared in accordance GAAP for interim financial information. Ether is priced at 11:59:59PM ET. With respect to the Fund’s ether holdings, the Trust will follow the provisions of the Financial Accounting Standards Board Accounting Standards Codification Topic 820, “Fair Value Measurements and Disclosures” (“ASC Topic 820”) and utilize an exchange-traded price from the Fund’s principal market (or in the absence of a principal market, the most advantageous market) for ether as of the Fund’s financial statement measurement date. ASC 820 established a hierarchy that prioritized inputs to valuation techniques used to measure fair value. The three levels of inputs are: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3: Inputs that are unobservable for the asset or liability, including the Fund’s assumptions used in determining the fair value of investments. On June 30, 2024, the value of the ether held by the Fund is categorized as Level 1. The cost basis of the investment in ether recorded by the Trust on behalf of the Fund for financial reporting purposes is the fair value of ether at the time of transfer. 2.4. Fees, Expenses and Realized Gain (Loss) The Fund’s only ordinary recurring expense will be the Sponsor’s fee. In exchange for the Sponsor’s fee, the Sponsor has agreed to assume the ordinary fees and expenses incurred by the Fund, including but not limited to the following: the fees charged by the Administrator , the Marketing Agent , the Custodians and the Trustee, Cboe BZX Exchange listing fees, typical maintenance and transaction fees of the DTC, SEC registration fees, printing and mailing costs, tax reporting fees, audit fees, license fees and expenses, and The Sponsor’s fee is accrued daily at an annualized rate equal 0.19% of the net asset value of the Fund and is payable at least quarterly in arrears in U.S. dollars or in-kind For a period commencing on the day the Shares are initially listed on the Exchange to January 31, 2025, the Sponsor has agreed to As of June 30, 2024, the Fund had not yet incurred or paid any fee to the Sponsor because the Fund had not yet commenced operations. Shares of the Fund were first listed for trading on the Exchange on July 23, 2024. The Sponsor is not required to pay any extraordinary or non-routine non-recurring non-routine per annum stipulated in the Sponsor Agreement. To the extent that the Sponsor does not voluntarily assume such fees and expenses, they will be the responsibility of the Fund. The Fund’s organizational and offering costs are borne by the Sponsor and, as such, are the sole responsibility of the Sponsor. The Sponsor will not seek reimbursement or otherwise require the Fund, the Trust, the Trustee, or any Shareholder to assume any liability, duty or obligation in connection with any such organizational and offering costs. Because the Fund does not have any income, it will need to sell ether to cover the Sponsor’s fee and expenses not assumed by the Sponsor, if any. Fund expenses not assumed by the Sponsor shall accrue daily and be payable by the Fund to the Sponsor at least quarterly in arrears. The Fund may also be subject to other liabilities (for example, as a result of litigation) that have also not been assumed by the Sponsor. The only source of funds to cover those liabilities will be sales of ether held by the Fund. Even if there are no expenses other than those assumed by the Sponsor, and there are no other liabilities of the Fund, the Fund will still need to sell ether to pay the Sponsor’s fee. The result of these sales is a decrease in the amount of ether represented by each Share. To cover the Sponsor’s fee and expenses not assumed by the Sponsor, the Sponsor or its delegate will cause the Fund to convert ether into U.S. dollars generally at the price available through the Prime Broker’s Coinbase Prime service (less applicable trading fees) through the Trading Platform which the Sponsor is able to obtain using commercially reasonable efforts. The number of ethers represented by a Share will decline each 2.5. Organizational and Offering Costs The Trust’s and the Fund’s organizational and offering costs are borne by the Sponsor and, as such, are the sole responsibility of the Sponsor. The Sponsor will not seek reimbursement or otherwise require the Fund, the Trust, the Trustee or any Shareholder to assume any liability, duty 2.6. Income Taxes The Fund is classified as a “grantor trust” for United States federal income tax purposes. As a result, the Trust and the Fund are not subject to United States federal income tax. Instead, the Fund’s income, gain, losses, and expenses will “flow through” to the shareholders, and the Administrator reports these to the Internal Revenue Service on that basis. The Sponsor has analysed applicable tax laws and regulations and their application to the Fund as of June 30, 2024, and does not believe that there are any uncertain tax positions that require recognition of a tax liability. 2.7. Creation and Redemption of Shares The Fund issues and redeems Creation Units on a continuous basis. Creation Units are issued or redeemed in exchange for an amount of cash as determined by the Administrator on each day that Cboe BZX Exchange is open for regular trading. For creation transactions, the amount of cash required to be delivered to the Fund will equal the amount of cash needed to purchase the amount of ether represented by the Creation Unit(s) being created, as calculated by the Administrator, plus applicable fees, costs and adjustments. For redemption transactions, the Sponsor will arrange for the ether represented by the Creation Unit(s) being redeemed to be sold and the cash proceeds, after applicable fees, costs and adjustments, distributed. No Shares are issued until the corresponding amount of ether has been received in the Fund’s Trading Balance. Creation Units may be created or redeemed only by Authorized Participants, who pay (1) a transaction fee for each order to create or redeem Creation Units; (2) transfer, processing and other transaction costs charged by the Ether Custodian in connection with the issuance or redemption of Creation Units for such order; and (3) any other expenses, taxes, charges or adjustments. The Authorized Participants will deliver only cash to create Shares and will receive only cash when redeeming Shares. Further, Authorized Participants will not directly or indirectly purchase, hold, deliver, or receive ether as part of the creation or redemption process or otherwise direct the Fund or a third-party with respect to purchasing, holding, delivering, or receiving ether as part of the creation or redemption process. The Fund will create Shares by receiving ether from a third-party that is not the Authorized Participant and the Fund—not the Authorized Participant—is responsible for selecting the third-party to deliver the ether. Further, the third-party will not be acting as an agent of the Authorized Participant with respect to the delivery of the ether to the Fund or acting at the direction of the Authorized Participant with respect to the delivery of the ether to the Fund. The Fund will redeem shares by delivering ether to a third-party that is not the Authorized Participant and the Fund—not the Authorized Participant—is responsible for selecting the third-party to receive the ether. Further, the third-party will not be acting as an agent of the Authorized Participant with respect to the receipt of the ether from the Fund or acting at the direction of the Authorized Participant with respect to the receipt of the ether from the Fund. The third-party will be unaffiliated with the Fund and the Sponsor. Creation Units will be sold at a per-Share y depe Changes in the Shares for the period from May 21, 2024 (Date of Inception) to June 30, 2024* are as follows: Shares Amount# Balance at May 21, 2024 (Date of inception) — $ — Creation of Shares 104,000 2,720,289^ Redemption of Shares (4,000 ) (100,000 ) Balance at June 30, 2024 100,000 $ 2,620,289 * No comparative period presented as fund inception was May 21, 2024. ^ On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share # Dollar amount of balance represents the cumulative fair value of creation of shares less the redemption of shares, at the time of the specific creation or redemption. 2. 8 Recently Issued Accounting Pronouncements In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): 2023-08”). 2023-08 2023-08 |
Investment in Ether
Investment in Ether | 1 Months Ended |
Jun. 30, 2024 | |
Investment in Ether | 3. INVESTMENT IN ETHER The following represents the changes in quantity of ether held and the respective fair value during the period May 21, 2024 (Date of inception) to June 30, 2024*: Quantity in Amount in US$ Balance at May 21, 2024 (Date of inception) — $ — Ether received for the creation of Shares 760.0000 2,620,289^ Ether distributed for the redemption of Shares — — Principal on ether sales to pay expenses — — Net realized gain (loss) from ether sold for the redemption of shares — — Net change in unrealized appreciation (depreciation) on investment in ether — 35,387 Balance at June 30, 2024 760.0000 $ 2,655,676 * No comparative period presented as fund inception was May 21, 2024. ^ On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share |
Franklin Ethereum ETF [Member] | |
Investment in Ether | 3. INVESTMENT IN ETHER The following represents the changes in quantity of ether held and the respective fair value during the period May 21, 2024 (Date of inception) to June 30, 2024*: Quantity Amount in US$ Balance at May 21, 2024 (Date of inception) — $ — Ether received for the creation of Shares 760.0000 2,620,289^ Ether distributed for the redemption of Shares — — Principal on ether sales to pay expenses — — Net realized gain (loss) from ether sold for the redemption of shares — — Net change in unrealized appreciation (depreciation) on investment in ether — 35,387 Balance at June 30, 2024 760.0000 $ 2,655,676 * No comparative period presented as fund inception was May 21, 2024. ^ On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share |
Related Parties
Related Parties | 1 Months Ended |
Jun. 30, 2024 | |
Related Party Transactions Disclosure [Text Block] | 4. RELATED PARTIES The Sponsor is a related party of the Trust and the Fund. The Marketing Agent is an affiliate of the Sponsor. Expenses payable to the Marketing Agent, if any, are paid through the Sponsor’s fee. The Trust also considers Franklin Resources, Inc., the ultimate parent company of the Sponsor, to be a related party of the Trust and the Fund. As of June 30, 2024, 100% of the outstanding shares of the Fund (the “Initial Seed Shares”) were held by Franklin Resources, Inc. in its capacity as the Seed Capital Investor pursuant to the initial seed transaction. See note 1 for additional information. The Sponsor of the Trust is Franklin Holdings, LLC. The Sponsor is responsible for establishing the Trust and for the registration of the Shares. The Sponsor generally oversees the performance of the Fund’s principal service providers but does not exercise day-to-day Franklin Distributors, LLC serves as the Marketing Agent of the Fund. The Sponsor and the Marketing Agent are affiliates, and each is considered to be a related party to the Trust and the Fund. Franklin Resources, Inc. (“FRI”) is the ultimate parent company of the Sponsor and the Marketing Agent. FRI is the holding company for various subsidiaries that together are referred to as Franklin Templeton Investments. In exchange for the Sponsor’s fee, the Sponsor has agreed to assume the ordinary fees and expenses incurred by the Fund, including but not limited to the following: fees charged by the Administrator, the Marketing Agent, the Custodians and the Trustee, Cboe BZX Exchange listing fees, typical maintenance and transaction fees of the DTC, SEC registration fees, printing and mailing costs, tax reporting fees, audit fees, license fees and expenses, and up to annum in ordinary legal fees and expenses. The Sponsor bears expenses in connection with the Trust’s and Fund’s organization and initial offering costs. The Sponsor is not required to pay any extraordinary or non-routine |
Franklin Ethereum ETF [Member] | |
Related Party Transactions Disclosure [Text Block] | 4. RELATED PARTIES The Sponsor is a related party of the Trust and the Fund. The Marketing Agent is an affiliate of the Sponsor. Expenses payable to the Marketing Agent, if any, are paid through the Sponsor’s fee. The Trust also considers Franklin Resources, Inc., the ultimate parent company of the Sponsor, to be a related party of the Trust and the Fund. As of June 30, 2024, 100% of the outstanding shares of the Fund (the “Initial Seed Shares”) were held by Franklin Resources, Inc. in its capacity as the Seed Capital Investor pursuant to the initial seed transaction. See note 1 for additional information. The Sponsor of the Trust is Franklin Holdings, LLC. The Sponsor is responsible for establishing the Trust and for the registration of the Shares. The Sponsor generally oversees the performance of the Fund’s principal service providers but does not exercise day-to-day Franklin Distributors, LLC serves as the Marketing Agent of the Fund. The Sponsor and the Marketing Agent are affiliates, and each is considered to be a related party to the Trust and the Fund. Franklin Resources, Inc. (“FRI”) is the ultimate parent company of the Sponsor and the Marketing Agent. FRI is the holding company for various subsidiaries that together are referred to as Franklin Templeton Investments. In exchange for the Sponsor’s fee, the Sponsor has agreed to assume the ordinary fees and expenses incurred by the Fund, including but not limited to the following: fees charged by the Administrator, the Marketing Agent, the Custodians and the Trustee, Cboe BZX Exchange listing fees, typical maintenance and transaction fees of the DTC, SEC registration fees, printing and mailing costs, tax reporting fees, audit fees, license fees and expenses, and up to per annum in ordinary legal fees and expenses. The Sponsor bears expenses in connection with the Trust’s and Fund’s organization and initial offering costs. The Sponsor is not required to pay any extraordinary or non-routine |
Concentration of Risk
Concentration of Risk | 1 Months Ended |
Jun. 30, 2024 | |
Concentration Risk Disclosure [Text Block] | 5. CONCENTRATION OF RISK As of June 30, 2024, the Fund had not yet commenced operations. At commencement and thereafter, the Fund will hold only ether and cash, which creates a concentration risk associated with fluctuations in the price of ether. Accordingly, a decline in the price of ether will have an adverse effect on the value of the Shares of the Fund. The trading prices of ether have experienced extreme volatility in recent periods and may continue to fluctuate significantly. Extreme volatility in the future, including substantial, sustained, or rapid declines in the trading prices of ether, could have a material adverse effect on the value of the Shares and the Shares could lose all or substantially all of their value. Factors adversely impacting the value of ether and the Shares may include an increase in the global ether supply or a decrease in global ether demand; market conditions of, and overall sentiment towards, the digital assets and blockchain technology industry; trading activity on digital asset platforms, which, in many cases, may be unregulated or subject to regulation by a relevant jurisdiction but potentially non-compliant with such regulations or may be subject to manipulation; the adoption of ether as a medium of exchange, store-of-value |
Franklin Ethereum ETF [Member] | |
Concentration Risk Disclosure [Text Block] | 5. CONCENTRATION OF RISK As of June 30, 2024, the Fund had not yet commenced operations. At commencement and thereafter, the Fund will hold only ether and cash, which creates a concentration risk associated with fluctuations in the price of ether. Accordingly, a decline in the price of ether will have an adverse effect on the value of the Shares of the Fund. The trading prices of ether have experienced extreme volatility in recent periods and may continue to fluctuate significantly. Extreme volatility in the future, including substantial, sustained, or rapid declines in the trading prices of ether, could have a material adverse effect on the value of the Shares and the Shares could lose all or substantially all of their value. Factors adversely impacting the value of ether and the Shares may include an increase in the global ether supply or a decrease in global ether demand; market conditions of, and overall sentiment towards, the digital assets and blockchain technology industry; trading activity on digital asset platforms, which, in many cases, may be unregulated or subject to regulation by a relevant jurisdiction but potentially non-compliant with such regulations or may be subject to manipulation; the adoption of ether as a medium of exchange, store-of-value platforms |
Financial Highlights
Financial Highlights | 1 Months Ended |
Jun. 30, 2024 | |
Investment Company, Financial Highlights [Line Items] | |
Financial Highlights | 6. FINANCIAL HIGHLIGHTS Financial highlights and performance information |
Franklin Ethereum ETF [Member] | |
Investment Company, Financial Highlights [Line Items] | |
Financial Highlights | 6. FINANCIAL HIGHLIGHTS Financial highlights and performance information has not been presented because principal operations had not yet commenced as of June 30, 2024. Shares of the Fund were first listed for trading and the Fund commenced investment operations on July 23, 2024. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 1 Months Ended |
Jun. 30, 2024 | |
Commitments and Contingent Liabilities [Line Items] | |
Commitments and Contingent Liabilities | 7. COMMITMENTS AND CONTINGENT LIABILITIES In the normal course of business, the Trust, on behalf of the Fund, may enter into contracts with service providers that contain general indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. |
Franklin Ethereum ETF [Member] | |
Commitments and Contingent Liabilities [Line Items] | |
Commitments and Contingent Liabilities | 7. COMMITMENTS AND CONTINGENT LIABILITIES In the normal course of business, the Trust, on behalf of the Fund, may enter into contracts with service providers that contain general indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. |
Indemnification
Indemnification | 1 Months Ended |
Jun. 30, 2024 | |
Indemnification [Line Items] | |
Indemnification | 8. INDEMNIFICATION Under the Trust’s organizational documents, the Sponsor and its shareholders, members, directors, affiliates, officers, employees and subsidiaries are indemnified by the Trust against certain liabilities. The Fund has also agreed to indemnify certain of its other service providers, including the Administrator, the Marketing Agent, Custodians and the Trustee (including its officers, affiliates, directors, employees, and agents), for certain liabilities incurred by such parties in connection with their respective agreements to provide services for the Fund. The Sponsor will not be liable to the Trust, the Trustee or any Shareholder for any action taken or for refraining from taking any action in good faith, or for errors in judgment or for depreciation or loss incurred by reason of the sale of any ether or other assets of the Fund or the Trust. However, the preceding liability exclusion will not protect the Sponsor against any liability resulting from its own gross negligence, bad faith, or wilful misconduct. The Sponsor and each of its shareholders, members, directors, officers, employees, affiliates and subsidiaries will be indemnified by the Trust and held harmless against any losses, liabilities or expenses incurred in the performance of its duties under the Declaration of Trust without gross negligence, bad faith, or willful misconduct. The Sponsor may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to it by the Trustee, the Trustee’s counsel or by any other person for any matters arising under the Declaration of Trust. The Sponsor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Shareholder or to the Trustee other than as expressly provided for in the Declaration of Trust. Such indemnity includes payment from the Trust of the costs and expenses incurred in defending against any indemnified claim or liability under the Declaration of Trust. The Trustee will not be liable or accountable to the Trust or any other person or under any agreement to which the Trust or any series of the Trust is a party, except for the Trustee’s breach of its obligations pursuant to the Declaration of Trust or its own willful misconduct, bad faith or gross negligence. The Trustee and each of the Trustee’s officers, affiliates, directors, employees, and agents will be indemnified by the Trust from and against any losses, claims, taxes, damages, reasonable expenses, and |
Franklin Ethereum ETF [Member] | |
Indemnification [Line Items] | |
Indemnification | 8. INDEMNIFICATION Under the Trust’s organizational documents, the Sponsor and its shareholders, members, directors, affiliates, officers, employees and subsidiaries are indemnified by the Trust against certain liabilities. The Fund has also agreed to indemnify certain of its other service providers, including the Administrator, the Marketing Agent , The Sponsor will not be liable to the Trust, the Trustee or any Shareholder for any action taken or for refraining from taking any action in good faith, or for errors in judgment or for depreciation or loss incurred by reason of the sale of any ether or other assets of the Fund or the Trust. However, the preceding liability exclusion will not protect the Sponsor against any liability resulting from its own gross negligence, bad faith, or wilful misconduct. The Sponsor and each of its shareholders, members, directors, officers, employees, affiliates and subsidiaries will be indemnified by the Trust and held harmless against any losses, liabilities or expenses incurred in the performance of its duties under the Declaration of Trust without gross negligence, bad faith, or willful misconduct. The Sponsor may rely in good faith on any paper, order, notice, list, affidavit, receipt, evaluation, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to it by the Trustee, the Trustee’s counsel or by any other person for any matters arising under the Declaration of Trust. The Sponsor shall in no event be deemed to have assumed or incurred any liability, duty, or obligation to any Shareholder or to the Trustee other than as expressly provided for in the Declaration of Trust. Such indemnity includes payment from the Trust of the costs and expenses incurred in defending against any indemnified claim or liability under the Declaration of Trust. The Trustee will not be liable or accountable to the Trust or any other person or under any agreement to which the Trust or any series of the Trust is a party, except for the Trustee’s breach of its obligations pursuant to the Declaration of Trust or its own willful misconduct, bad faith or gross negligence. The Trustee and each of the Trustee’s officers, affiliates, directors, employees, and agents will be indemnified by the Trust from and against any losses, claims, taxes, damages, reasonable expenses, and liabilities incurred with respect to the creation, operation or termination of the Trust, the execution, delivery or performance of the Declaration of Trust or the transactions contemplated thereby; provided that the |
Subsequent Events
Subsequent Events | 1 Months Ended |
Jun. 30, 2024 | |
Subsequent Event [Line Items] | |
Subsequent Events | 9. SUBSEQUENT EVENTS The Trust and the Fund ha ve |
Franklin Ethereum ETF [Member] | |
Subsequent Event [Line Items] | |
Subsequent Events | 9. SUBSEQUENT EVENTS The Fund has evaluated |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 1 Months Ended |
Jun. 30, 2024 | |
Basis of Presentation | 2.1. Basis of Presentation The Sponsor has determined that the Trust falls within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and has concluded that solely for accounting purposes, the Trust is classified as an Investment Company. The Trust is not registered as an investment company under the Investment Company Act of 1940 and is not required to register under such act. The financial statements are presented for the Trust, as the registrant, combined with the Fund. Financial statements for the Fund presented at the series-level are provided separately in this report. For the periods presented, there were no balances or activity for the Trust except for the Fund’s operations, as its sole series and these notes to the financial statements relate to the Trust, as the registrant, combined with the Fund. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Fund are enforceable only against the assets of the Fund and not against the assets of the Trust generally or any other series that the Trust may establish. Individual, series-level financial statements for the Fund are presented separately within this report. |
Calculation of NAV and NAV per Share | 2.2. Calculation of NAV and NAV per Share The Sponsor has the exclusive authority to determine the Fund’s net asset value (“NAV”). The Sponsor has delegated to the Administrator the responsibility to calculate the NAV of the Fund, based on a pricing source selected by the Sponsor. In determining the Fund’s NAV, the Administrator will value the ether held by the Fund based on the Index, unless the Sponsor in its sole discretion determines that the index is unreliable. The CME CF Ether Reference Rate – New York Variant for the Ether – U.S. Dollar trading pair (the “CF Benchmarks Index”) shall constitute the Index, unless the CF Benchmarks Index is not available or the Sponsor in its sole discretion determines the CF Benchmarks Index is unreliable as the Index and therefore determines not to use the CF Benchmarks Index as the Index. If the CF Benchmarks Index is not available or the Sponsor determines, in its sole discretion, that the CF Benchmarks Index is unreliable (referred to herein as a “Fair Value Event”), the Fund’s holdings may be fair valued by the Sponsor. On each Business Day, as soon as practicable after 4:00 p.m. Eastern Time (“ET”), the Administrator evaluates the ether held by the Fund as reflected by the CF Benchmarks Index and determines the NAV of the Fund. For purposes of making |
Valuation | 2.3. Valuation The Fund’s financial statements are prepared in accordance GAAP for interim financial information. Ether is priced at 11:59:59PM ET. With respect to the Fund’s ether holdings, the Trust will follow the provisions of the Financial Accounting Standards Board Accounting Standards Codification Topic 820, “Fair Value Measurements and Disclosures” (“ASC Topic 820”) and utilize an exchange-traded price from the Fund’s principal market (or in the absence of a principal market, the most advantageous market) for ether as of the Fund’s financial statement measurement date. ASC 820 established a hierarchy that prioritized inputs to valuation techniques used to measure fair value. The three levels of inputs are: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3: Inputs that are unobservable for the asset or liability, including the Fund’s assumptions used in determining the fair value of investments. On June 30, 2024, the value of the ether held by the Fund is categorized as Level 1. The cost basis of the investment in ether recorded by the Trust on behalf of the Fund for financial reporting purposes is the fair value of ether at the time of transfer. |
Fees, Expenses and Realized Gain (Loss) | 2.4. Fees, Expenses and Realized Gain (Loss) The Fund’s only ordinary recurring expense will be the Sponsor’s fee. In exchange for the Sponsor’s fee, the Sponsor has agreed to assume the ordinary fees and expenses incurred by the Fund, including but not limited to the following: the fees charged by the Administrator , the Marketing Agent , the Custodians and the Trustee, Cboe BZX Exchange listing fees, typical maintenance and transaction fees of the DTC, SEC registration fees, printing and mailing costs, tax reporting fees, audit fees, license fees and expenses, and The Sponsor’s fee is accrued daily at an annualized rate equal 0.19% of the net asset value of the Fund and is payable at least quarterly in arrears in U.S. dollars or in-kind For a period commencing on the day the Shares are initially listed on the Exchange to January 31, 2025, the Sponsor has agreed to As of June 30, 2024, the Fund had not yet incurred or paid any fee to the Sponsor because the Fund had not yet commenced operations. Shares of the Fund were first listed for trading on the Exchange on July 23, 2024. The Sponsor is not required to pay any extraordinary or non-routine non-recurring non-routine Sponsor at least quarterly in arrears. The Fund may also be subject to other liabilities (for example, as a result of litigation) that have also not been assumed by the Sponsor. The only source of funds to cover those liabilities will be sales of ether held by the Fund. Even if there are no expenses other than those assumed by the Sponsor, and there are no other liabilities of the Fund, the Fund will still need to sell ether to pay the Sponsor’s fee. The result of these sales is a decrease in the amount of ether represented by each Share. To cover the Sponsor’s fee and expenses not assumed by the Sponsor, the Sponsor or its delegate will cause the Fund to convert ether into U.S. dollars generally at the price available through the Prime Broker’s Coinbase Prime service (less applicable trading fees) through the Trading Platform which the Sponsor is able to obtain using commercially reasonable efforts. The number of ethers represented by a Share will decline each time the Fund pays the Sponsor’s fee or any Fund expenses not assumed by the Sponsor by transferring or selling ethers. The quantity of ethers to be sold to permit payment of the Sponsor’s fee or Fund expenses not assumed by the Sponsor, will vary from time to time depending on the level of the |
Organizational and Offering Costs | 2.5. Organizational and Offering Costs The Trust’s and the Fund’s organizational and offering costs are borne by the Sponsor and, as such, are the sole responsibility of the Sponsor. The Sponsor will not seek reimbursement or otherwise require the Fund, the Trust, the Trustee or any Shareholder to assume any liability, duty or obligation in connection with any such organizational and offering costs. |
Income Taxes | 2.6. Income Taxes The Fund is classified as a “grantor trust” for United States federal income tax purposes. As a result, the Trust and the Fund are not subject to United States federal income tax. Instead, the Fund’s income, gain, losses, and expenses will “flow through” to the shareholders, and the Administrator reports these to the Internal Revenue Service on that basis. The Sponsor has analysed applicable tax laws and regulations and their application to the Fund |
Creation and Redemption of Shares | 2.7. Creation and Redemption of Shares The Fund issues and redeems Creation Units on a continuous basis. Creation Units are issued or redeemed in exchange for an amount of cash as determined by the Administrator on each day that Cboe BZX Exchange is open for regular trading. For creation transactions, the amount of cash required to be delivered to the Fund will equal the amount of cash needed to purchase the amount of ether represented by the Creation Unit(s) being created, as calculated by the Administrator, plus applicable fees, costs and adjustments. For redemption transactions, the Sponsor will arrange for the ether represented by the Creation Unit(s) being redeemed to be sold and the cash proceeds, after applicable fees, costs and adjustments, distributed. No Shares are issued until the corresponding amount of ether has been received in the Fund’s Trading Balance. Creation Units may be created or redeemed only by Authorized Participants, who pay (1) a transaction fee for each order to create or redeem Creation Units; (2) transfer, processing and other transaction costs charged by the Ether Custodian in connection with the issuance or redemption of Creation Units for such order; and (3) any other expenses, taxes, charges or adjustments. The Authorized Participants will deliver only cash to create Shares and will receive only cash when redeeming Shares. Further, Authorized Participants will not directly or indirectly purchase, hold, deliver, or receive ether as part of the creation or redemption process or otherwise direct the Fund or a third-party with respect to purchasing, holding, delivering, or receiving ether as part of the creation or redemption process. The Fund will create Shares by receiving ether from a third-party that is not the Authorized Participant and the Fund—not the Authorized Participant—is responsible for selecting the third-party to deliver the ether. Further, the third-party will not be acting as an agent of the Authorized Participant with respect to the delivery of the ether to the Fund or acting at the direction of the Authorized Participant with respect to the delivery of the ether to the Fund. The Fund will redeem shares by delivering ether to a third-party that is not the Authorized Participant and the Fund—not the Authorized Participant—is responsible for selecting the third-party to receive the ether. Further, the third-party will not be acting as an agent of the Authorized Participant with respect to the receipt of the ether from the Fund or acting at the direction of the Authorized Participant with respect to the receipt of the ether from the Fund. The third-party will be unaffiliated with the Fund and the Sponsor. Creation Units will be sold at a per-Share hat Changes in the Shares for the period from May 21, 2024 (Date of Inception) to June 30, 2024* are as follows: Shares Amount# Balance at May 21, 2024 (Date of inception) — $ — Creation of Shares 104,000 2,720,289^ Redemption of Shares (4,000 ) (100,000 ) Balance at June 30, 2024 100,000 $ 2,620,289 * No comparative period presented as fund inception was May 21, 2024. ^ On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share # Dollar amount of balance represents the cumulative fair value of creation of shares less the redemption of shares, at the time of the specific creation or redemption. |
Recently Issued Accounting Pronouncements | 2. 8 Recently Issued Accounting Pronouncements In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): 2023-08”). 2023-08 2023-08 |
Franklin Ethereum ETF [Member] | |
Basis of Presentation | 2.1. Basis of Presentation The Sponsor has determined that the Trust falls within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies, and has concluded that solely for accounting purposes, the Trust is classified as an Investment Company. The Trust is not registered as an investment company under the Investment Company Act of 1940 and is not required to register under such act. The financial statements are presented for the Trust, as the registrant, combined with the Fund (in a separate section of this report) and for the Fund individually. For the periods presented, there were no balances or activity for the Trust except for the Fund’s operations, as its sole series and these notes to the financial statements relate to the Fund individually. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Fund are enforceable only against the assets of the Fund and not against the assets of the Trust generally or any other series that the Trust may establish. |
Calculation of NAV and NAV per Share | 2.2. Calculation of NAV and NAV per Share The Sponsor has the exclusive authority to determine the Fund’s net asset value (“NAV”). The Sponsor has delegated to the Administrator the responsibility to calculate the NAV of the Fund, based on a pricing source selected by the Sponsor. In determining the Fund’s NAV, the Administrator will value the ether held by the Fund based on the Index, unless the Sponsor in its sole discretion determines that the index is unreliable. The CME CF Ether Reference Rate—New York Variant for the Ether—U.S. Dollar trading pair (the “CF Benchmarks Index”) shall constitute the Index, unless the CF Benchmarks Index is not available or the Sponsor in its sole discretion determines the CF Benchmarks Index is unreliable as the Index and therefore determines not to use the CF Benchmarks Index as the Index. If the CF Benchmarks Index is not available or the Sponsor determines, in its sole discretion, that the CF Benchmarks Index is unreliable (referred to herein as a “Fair Value Event”), the Fund’s holdings may be fair valued by the Sponsor. On each Business Day, as soon as practicable after 4:00 p.m. Eastern Time (“ET”), the Administrator evaluates the ether held by the Fund as reflected by the CF Benchmarks Index and determines the NAV of the Fund. For purposes of making these calculations, a Business Day means any day other than a day when the Cboe BZX Exchange is closed for regular trading. The Fund’s periodic financial statements may not utilize this net asset value of the Fund to the extent the methodology used to calculate the Index is deemed not to be consistent with GAAP |
Valuation | 2.3. Valuation The Fund’s financial statements are prepared in accordance GAAP for interim financial information. Ether is priced at 11:59:59PM ET. With respect to the Fund’s ether holdings, the Trust will follow the provisions of the Financial Accounting Standards Board Accounting Standards Codification Topic 820, “Fair Value Measurements and Disclosures” (“ASC Topic 820”) and utilize an exchange-traded price from the Fund’s principal market (or in the absence of a principal market, the most advantageous market) for ether as of the Fund’s financial statement measurement date. ASC 820 established a hierarchy that prioritized inputs to valuation techniques used to measure fair value. The three levels of inputs are: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3: Inputs that are unobservable for the asset or liability, including the Fund’s assumptions used in determining the fair value of investments. On June 30, 2024, the value of the ether held by the Fund is categorized as Level 1. The cost basis of the investment in ether recorded by the Trust on behalf of the Fund for financial reporting purposes is the fair value of ether at the time of transfer. |
Fees, Expenses and Realized Gain (Loss) | 2.4. Fees, Expenses and Realized Gain (Loss) The Fund’s only ordinary recurring expense will be the Sponsor’s fee. In exchange for the Sponsor’s fee, the Sponsor has agreed to assume the ordinary fees and expenses incurred by the Fund, including but not limited to the following: the fees charged by the Administrator , the Marketing Agent , the Custodians and the Trustee, Cboe BZX Exchange listing fees, typical maintenance and transaction fees of the DTC, SEC registration fees, printing and mailing costs, tax reporting fees, audit fees, license fees and expenses, and The Sponsor’s fee is accrued daily at an annualized rate equal 0.19% of the net asset value of the Fund and is payable at least quarterly in arrears in U.S. dollars or in-kind For a period commencing on the day the Shares are initially listed on the Exchange to January 31, 2025, the Sponsor has agreed to As of June 30, 2024, the Fund had not yet incurred or paid any fee to the Sponsor because the Fund had not yet commenced operations. Shares of the Fund were first listed for trading on the Exchange on July 23, 2024. The Sponsor is not required to pay any extraordinary or non-routine non-recurring non-routine per annum stipulated in the Sponsor Agreement. To the extent that the Sponsor does not voluntarily assume such fees and expenses, they will be the responsibility of the Fund. The Fund’s organizational and offering costs are borne by the Sponsor and, as such, are the sole responsibility of the Sponsor. The Sponsor will not seek reimbursement or otherwise require the Fund, the Trust, the Trustee, or any Shareholder to assume any liability, duty or obligation in connection with any such organizational and offering costs. Because the Fund does not have any income, it will need to sell ether to cover the Sponsor’s fee and expenses not assumed by the Sponsor, if any. Fund expenses not assumed by the Sponsor shall accrue daily and be payable by the Fund to the Sponsor at least quarterly in arrears. The Fund may also be subject to other liabilities (for example, as a result of litigation) that have also not been assumed by the Sponsor. The only source of funds to cover those liabilities will be sales of ether held by the Fund. Even if there are no expenses other than those assumed by the Sponsor, and there are no other liabilities of the Fund, the Fund will still need to sell ether to pay the Sponsor’s fee. The result of these sales is a decrease in the amount of ether represented by each Share. To cover the Sponsor’s fee and expenses not assumed by the Sponsor, the Sponsor or its delegate will cause the Fund to convert ether into U.S. dollars generally at the price available through the Prime Broker’s Coinbase Prime service (less applicable trading fees) through the Trading Platform which the Sponsor is able to obtain using commercially reasonable efforts. The number of ethers represented by a Share will decline each |
Organizational and Offering Costs | 2.5. Organizational and Offering Costs The Trust’s and the Fund’s organizational and offering costs are borne by the Sponsor and, as such, are the sole responsibility of the Sponsor. The Sponsor will not seek reimbursement or otherwise require the Fund, the Trust, the Trustee or any Shareholder to assume any liability, duty |
Income Taxes | 2.6. Income Taxes The Fund is classified as a “grantor trust” for United States federal income tax purposes. As a result, the Trust and the Fund are not subject to United States federal income tax. Instead, the Fund’s income, gain, losses, and expenses will “flow through” to the shareholders, and the Administrator reports these to the Internal Revenue Service on that basis. The Sponsor has analysed applicable tax laws and regulations and their application to the Fund as of June 30, 2024, and does not believe that there are any uncertain tax positions that require recognition of a tax liability. |
Creation and Redemption of Shares | 2.7. Creation and Redemption of Shares The Fund issues and redeems Creation Units on a continuous basis. Creation Units are issued or redeemed in exchange for an amount of cash as determined by the Administrator on each day that Cboe BZX Exchange is open for regular trading. For creation transactions, the amount of cash required to be delivered to the Fund will equal the amount of cash needed to purchase the amount of ether represented by the Creation Unit(s) being created, as calculated by the Administrator, plus applicable fees, costs and adjustments. For redemption transactions, the Sponsor will arrange for the ether represented by the Creation Unit(s) being redeemed to be sold and the cash proceeds, after applicable fees, costs and adjustments, distributed. No Shares are issued until the corresponding amount of ether has been received in the Fund’s Trading Balance. Creation Units may be created or redeemed only by Authorized Participants, who pay (1) a transaction fee for each order to create or redeem Creation Units; (2) transfer, processing and other transaction costs charged by the Ether Custodian in connection with the issuance or redemption of Creation Units for such order; and (3) any other expenses, taxes, charges or adjustments. The Authorized Participants will deliver only cash to create Shares and will receive only cash when redeeming Shares. Further, Authorized Participants will not directly or indirectly purchase, hold, deliver, or receive ether as part of the creation or redemption process or otherwise direct the Fund or a third-party with respect to purchasing, holding, delivering, or receiving ether as part of the creation or redemption process. The Fund will create Shares by receiving ether from a third-party that is not the Authorized Participant and the Fund—not the Authorized Participant—is responsible for selecting the third-party to deliver the ether. Further, the third-party will not be acting as an agent of the Authorized Participant with respect to the delivery of the ether to the Fund or acting at the direction of the Authorized Participant with respect to the delivery of the ether to the Fund. The Fund will redeem shares by delivering ether to a third-party that is not the Authorized Participant and the Fund—not the Authorized Participant—is responsible for selecting the third-party to receive the ether. Further, the third-party will not be acting as an agent of the Authorized Participant with respect to the receipt of the ether from the Fund or acting at the direction of the Authorized Participant with respect to the receipt of the ether from the Fund. The third-party will be unaffiliated with the Fund and the Sponsor. Creation Units will be sold at a per-Share y depe Changes in the Shares for the period from May 21, 2024 (Date of Inception) to June 30, 2024* are as follows: Shares Amount# Balance at May 21, 2024 (Date of inception) — $ — Creation of Shares 104,000 2,720,289^ Redemption of Shares (4,000 ) (100,000 ) Balance at June 30, 2024 100,000 $ 2,620,289 * No comparative period presented as fund inception was May 21, 2024. ^ On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share # Dollar amount of balance represents the cumulative fair value of creation of shares less the redemption of shares, at the time of the specific creation or redemption. |
Recently Issued Accounting Pronouncements | 2. 8 Recently Issued Accounting Pronouncements In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): 2023-08”). 2023-08 2023-08 |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 1 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Line Items] | |
Summary of changes in shares | Changes in the Shares for the period from May 21, 2024 (Date of Inception) to June 30, 2024* are as follows: Shares Amount# Balance at May 21, 2024 (Date of inception) — $ — Creation of Shares 104,000 2,720,289^ Redemption of Shares (4,000 ) (100,000 ) Balance at June 30, 2024 100,000 $ 2,620,289 * No comparative period presented as fund inception was May 21, 2024. ^ On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share # Dollar amount of balance represents the cumulative fair value of creation of shares less the redemption of shares, at the time of the specific creation or redemption. |
Franklin Ethereum ETF [Member] | |
Accounting Policies [Line Items] | |
Summary of changes in shares | Changes in the Shares for the period from May 21, 2024 (Date of Inception) to June 30, 2024* are as follows: Shares Amount# Balance at May 21, 2024 (Date of inception) — $ — Creation of Shares 104,000 2,720,289^ Redemption of Shares (4,000 ) (100,000 ) Balance at June 30, 2024 100,000 $ 2,620,289 * No comparative period presented as fund inception was May 21, 2024. ^ On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share # Dollar amount of balance represents the cumulative fair value of creation of shares less the redemption of shares, at the time of the specific creation or redemption. |
Investment in Ether (Tables)
Investment in Ether (Tables) | 1 Months Ended |
Jun. 30, 2024 | |
Investment Holdings, Other than Securities [Line Items] | |
Schedule of Changes in Quantity of Bitcoin Held | The following represents the changes in quantity of ether held and the respective fair value during the period May 21, 2024 (Date of inception) to June 30, 2024*: Quantity in Amount in US$ Balance at May 21, 2024 (Date of inception) — $ — Ether received for the creation of Shares 760.0000 2,620,289^ Ether distributed for the redemption of Shares — — Principal on ether sales to pay expenses — — Net realized gain (loss) from ether sold for the redemption of shares — — Net change in unrealized appreciation (depreciation) on investment in ether — 35,387 Balance at June 30, 2024 760.0000 $ 2,655,676 * No comparative period presented as fund inception was May 21, 2024. ^ On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share |
Franklin Ethereum ETF [Member] | |
Investment Holdings, Other than Securities [Line Items] | |
Schedule of Changes in Quantity of Bitcoin Held | The following represents the changes in quantity of ether held and the respective fair value during the period May 21, 2024 (Date of inception) to June 30, 2024*: Quantity Amount in US$ Balance at May 21, 2024 (Date of inception) — $ — Ether received for the creation of Shares 760.0000 2,620,289^ Ether distributed for the redemption of Shares — — Principal on ether sales to pay expenses — — Net realized gain (loss) from ether sold for the redemption of shares — — Net change in unrealized appreciation (depreciation) on investment in ether — 35,387 Balance at June 30, 2024 760.0000 $ 2,655,676 * No comparative period presented as fund inception was May 21, 2024. ^ On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share per-Share |
Organization - Additional Info
Organization - Additional Information (Details) | 1 Months Ended | ||||
Jun. 27, 2024 USD ($) Ether $ / shares shares | May 21, 2024 USD ($) $ / shares shares | Feb. 08, 2024 Creationunits | Jun. 30, 2024 USD ($) shares | ||
Nature Of Operations [Line Items] | |||||
Date of incorporation | Feb. 08, 2024 | ||||
Security exchange name | CboeBZX | ||||
Threshold multiples in which shares are issued | Creationunits | 50,000 | ||||
Trading symbol | EZET | ||||
Proceeds from Issuance of Common Stock | $ | [1],[2] | $ 2,720,289 | |||
BATS [Member] | |||||
Nature Of Operations [Line Items] | |||||
Security exchange name | CboeBZX | ||||
Initial Seed Shares [Member] | |||||
Nature Of Operations [Line Items] | |||||
Stock issued during the period shares new issues | shares | 4,000 | ||||
Shares Issued, Price Per Share | $ / shares | $ 25 | ||||
Proceeds from Issuance of Common Stock | $ | $ 100,000 | ||||
Payments for Repurchase of Common Stock | $ | $ 100,000 | $ 100,000 | |||
Seed Creation Ether Units [Member] | |||||
Nature Of Operations [Line Items] | |||||
Stock issued during the period shares new issues | shares | 760 | ||||
Shares Issued, Price Per Share | $ / shares | $ 3,446.37 | ||||
Proceeds from Issuance of Common Stock | $ | $ 2,619,241.2 | ||||
Ratio Per Creation Unit Based on Share Price | Ether | 380 | ||||
Common Stock Backed Up By Units [Member] | |||||
Nature Of Operations [Line Items] | |||||
Stock issued during the period shares new issues | shares | 100,000 | ||||
Creation Units Ether [Member] | |||||
Nature Of Operations [Line Items] | |||||
Stock issued during the period shares new issues | shares | 2 | ||||
Franklin Ethereum ETF [Member] | |||||
Nature Of Operations [Line Items] | |||||
Date of incorporation | Feb. 08, 2024 | ||||
Threshold multiples in which shares are issued | Creationunits | 50,000 | ||||
Trading symbol | EZET | ||||
Proceeds from Issuance of Common Stock | $ | [1],[2] | $ 2,720,289 | |||
Franklin Ethereum ETF [Member] | BATS [Member] | |||||
Nature Of Operations [Line Items] | |||||
Security exchange name | CboeBZX | ||||
Franklin Ethereum ETF [Member] | Initial Seed Shares [Member] | |||||
Nature Of Operations [Line Items] | |||||
Stock issued during the period shares new issues | shares | 4,000 | 4,000 | |||
Shares Issued, Price Per Share | $ / shares | $ 25 | ||||
Proceeds from Issuance of Common Stock | $ | $ 100,000 | $ 100,000 | |||
Payments for Repurchase of Common Stock | $ | $ 100,000 | ||||
Franklin Ethereum ETF [Member] | Seed Creation Ether Units [Member] | |||||
Nature Of Operations [Line Items] | |||||
Stock issued during the period shares new issues | shares | 760 | ||||
Shares Issued, Price Per Share | $ / shares | $ 3,446.37 | $ 25 | |||
Proceeds from Issuance of Common Stock | $ | $ 2,619,241.2 | ||||
Ratio Per Creation Unit Based on Share Price | Ether | 380 | ||||
Franklin Ethereum ETF [Member] | Common Stock Backed Up By Units [Member] | |||||
Nature Of Operations [Line Items] | |||||
Stock issued during the period shares new issues | shares | 100,000 | ||||
Ratio Per Creation Unit Based on Share Price | Ether | 380 | ||||
Franklin Ethereum ETF [Member] | Creation Units Ether [Member] | |||||
Nature Of Operations [Line Items] | |||||
Stock issued during the period shares new issues | shares | 2 | ||||
[1]No comparative period presented as fund inception was May 21, 2024.[2]On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024. |
Significant Accounting Polici_4
Significant Accounting Policies - Additional Information (Details) | 1 Months Ended |
Jun. 30, 2024 USD ($) | |
Accounting Policies [Line Items] | |
Sponsor's fee rate | 0.19% |
Franklin Ethereum ETF [Member] | |
Accounting Policies [Line Items] | |
Sponsor's fee rate | 0.19% |
Sponsor [Member] | Ordinary Fees And Expenses Incurred By The Fund [Member] | |
Accounting Policies [Line Items] | |
Amount of expenses agreed to be borne by the counterparty | $ 500,000 |
Initial value of the funds assets on the basis of which fees is determined | 10,000,000,000 |
Other non recurring expenses threshold limit above which shall be borne by the fund | 500,000 |
Sponsor [Member] | Ordinary Fees And Expenses Incurred By The Fund [Member] | Franklin Ethereum ETF [Member] | |
Accounting Policies [Line Items] | |
Amount of expenses agreed to be borne by the counterparty | 500,000 |
Initial value of the funds assets on the basis of which fees is determined | 10,000,000,000 |
Other non recurring expenses threshold limit above which shall be borne by the fund | 500,000 |
Sponsor [Member] | Ordinary Fees And Expenses Incurred By The Fund [Member] | Minimum [Member] | |
Accounting Policies [Line Items] | |
Amount of expenses agreed to be borne by the counterparty | 500,000 |
Sponsor [Member] | Ordinary Fees And Expenses Incurred By The Fund [Member] | Minimum [Member] | Franklin Ethereum ETF [Member] | |
Accounting Policies [Line Items] | |
Amount of expenses agreed to be borne by the counterparty | $ 500,000 |
Significant Accounting Polici_5
Significant Accounting Policies - Summary of Changes in Shares (Details) | 1 Months Ended | |
Jun. 30, 2024 USD ($) shares | ||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||
Beginning Balance (in Shares) | shares | ||
Beginning Balance | $ | [1] | |
Creation of Shares (in Shares) | shares | 104,000 | |
Creation of Shares | $ | $ 2,720,289 | [1],[2] |
Redemption of Shares (in Shares) | shares | (4,000) | |
Redemption of Shares | $ | $ (100,000) | [1] |
Ending Balance (in Shares) | shares | 100,000 | |
Ending Balance | $ | $ 2,620,289 | [1] |
Franklin Ethereum ETF [Member] | ||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||
Beginning Balance (in Shares) | shares | ||
Beginning Balance | $ | [1] | |
Creation of Shares (in Shares) | shares | 104,000 | |
Creation of Shares | $ | $ 2,720,289 | [1],[2] |
Redemption of Shares (in Shares) | shares | (4,000) | |
Redemption of Shares | $ | $ (100,000) | [1] |
Ending Balance (in Shares) | shares | 100,000 | |
Ending Balance | $ | $ 2,620,289 | [1] |
[1]Dollar amount of balance represents the cumulative fair value of creation of shares less the redemption of shares, at the time of the specific creation or redemption.[2]On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. |
Significant Accounting Polici_6
Significant Accounting Policies - Summary of Changes in Shares (Parenthetical) (Details) | 1 Months Ended | |||
Jun. 27, 2024 USD ($) Ether $ / shares shares | May 21, 2024 USD ($) $ / shares shares | Jun. 30, 2024 USD ($) | ||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||||
Proceeds from issuance of creation of units | $ | [1],[2] | $ 2,720,289 | ||
Initial Seed Shares [Member] | ||||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||||
Stock issued during the period shares new issues | shares | 4,000 | |||
Shares Issued, Price Per Share | $ / shares | $ 25 | |||
Proceeds from issuance of creation of units | $ | $ 100,000 | |||
Payment to redeem common stock | $ | $ 100,000 | $ 100,000 | ||
Seed Creation Ether Units [Member] | ||||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||||
Stock issued during the period shares new issues | shares | 760 | |||
Shares Issued, Price Per Share | $ / shares | $ 3,446.37 | |||
Proceeds from issuance of creation of units | $ | $ 2,619,241.2 | |||
Ratio Per Creation Unit Based on Share Price | Ether | 380 | |||
Common Stock Backed Up By Units [Member] | ||||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||||
Stock issued during the period shares new issues | shares | 100,000 | |||
Creation Units Ether [Member] | ||||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||||
Stock issued during the period shares new issues | shares | 2 | |||
[1]No comparative period presented as fund inception was May 21, 2024.[2]On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024. |
Investment in Ether - Schedule
Investment in Ether - Schedule of Changes in Quantity of Ether Held (Details) | 1 Months Ended | ||
Jun. 27, 2024 shares | Jun. 30, 2024 USD ($) BTC shares | ||
Investment Holdings, Other than Securities [Line Items] | |||
Ether distributed for the redemption of Shares (in shares) | shares | |||
Ether distributed for the redemption of Shares | |||
Principal on ether sales to pay expenses (in shares) | shares | |||
Principal on ether sales to pay expenses | |||
Net realized gain (loss) from ether sold for the redemption of shares | [1] | ||
Net change in unrealized appreciation (depreciation) on investment in ether | [1],[2] | 35,387 | |
Ending balance of fair value | [1],[3] | $ 2,655,676 | |
Ether [Member] | |||
Investment Holdings, Other than Securities [Line Items] | |||
Beginning balance | BTC | 0 | ||
Beginning balance of fair value | $ 0 | ||
Ether received for the creation of Shares (in shares) | shares | 760 | ||
Ether received for the creation of Shares | [4] | $ 2,620,289 | |
Ether distributed for the redemption of Shares (in shares) | shares | |||
Ether distributed for the redemption of Shares | |||
Principal on ether sales to pay expenses (in shares) | shares | |||
Principal on ether sales to pay expenses | |||
Net realized gain (loss) from ether sold for the redemption of shares | |||
Net change in unrealized appreciation (depreciation) on investment in ether | $ 35,387 | ||
Ending Balance | BTC | 760 | ||
Ending balance of fair value | $ 2,655,676 | ||
Franklin Ethereum ETF [Member] | |||
Investment Holdings, Other than Securities [Line Items] | |||
Net realized gain (loss) from ether sold for the redemption of shares | [1] | ||
Net change in unrealized appreciation (depreciation) on investment in ether | [1],[2] | 35,387 | |
Ending balance of fair value | [1],[3] | $ 2,655,676 | |
Franklin Ethereum ETF [Member] | Ether [Member] | |||
Investment Holdings, Other than Securities [Line Items] | |||
Beginning balance | BTC | 0 | ||
Beginning balance of fair value | $ 0 | ||
Ether received for the creation of Shares (in shares) | shares | 760 | ||
Ether received for the creation of Shares | [4] | 2,620,289 | |
Net realized gain (loss) from ether sold for the redemption of shares | 0 | ||
Net change in unrealized appreciation (depreciation) on investment in ether | $ 35,387 | ||
Ending Balance | BTC | 760 | ||
Ending balance of fair value | $ 2,655,676 | ||
[1]No comparative period presented as fund inception was May 21, 2024.[2]No comparative period presented as fund inception was May 21, 2024. On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024.[3]Cost of investment in ether: $2,620,289 at June 30, 2024[4]On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024. |
Investment in Ether - Schedul_2
Investment in Ether - Schedule of Changes in Quantity of Ether Held (Parenthetical) (Details) | 1 Months Ended | |||
Jun. 27, 2024 USD ($) Ether $ / shares shares | May 21, 2024 USD ($) $ / shares shares | Jun. 30, 2024 USD ($) | ||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||||
Proceeds from the issuance of common stock | $ | [1],[2] | $ 2,720,289 | ||
Initial Seed Shares [Member] | ||||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||||
Stock issued during the period shares new issues | shares | 4,000 | |||
Sale of stock issue price per share | $ / shares | $ 25 | |||
Proceeds from the issuance of common stock | $ | $ 100,000 | |||
Payment to redeem common stock | $ | $ 100,000 | $ 100,000 | ||
Seed Creation Ether Units [Member] | ||||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||||
Stock issued during the period shares new issues | shares | 760 | |||
Sale of stock issue price per share | $ / shares | $ 3,446.37 | |||
Proceeds from the issuance of common stock | $ | $ 2,619,241.2 | |||
Ratio per creation unit based on share price | Ether | 380 | |||
Common Stock Backed Up By Units [Member] | ||||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||||
Stock issued during the period shares new issues | shares | 100,000 | |||
Creation Units Ether [Member] | ||||
Summary Of Changes In The Shares Issued And Outstanding [Line Items] | ||||
Stock issued during the period shares new issues | shares | 2 | |||
[1]No comparative period presented as fund inception was May 21, 2024.[2]On May 21, 2024, Franklin Resources Inc. (the “Seed Capital Investor”), an affiliate of the Sponsor, subject to conditions, purchased 4,000 Shares at a per-Share price equal to $25.00 (the “Initial Seed Shares”). Delivery of the Initial Seed Shares was made on May 21, 2024. Total proceeds to the Fund from the sale of the Initial Seed Shares were $100,000. On June 27, 2024, the Initial Seed Shares were redeemed for $100,000 and the Seed Capital Investor purchased two creation units in a cash transaction comprised of a total of 100,000 Shares at a per-Share price based on 380 ether per Creation Unit (or 0.0076 ether per Share), for a total of 760 ether (the “Seed Creation Units”). The cash proceeds to the Fund from the sale of the Seed Creation Units were used by the Fund to purchase 760 ether at the price of $3,446.37 per ether on June 27, 2024 (exclusive of transaction and other costs incurred in connection with the conversion of the cash proceeds to ether, which were paid by the Seed Capital Investor). Thus, the ultimate total proceeds to the Fund from the sale of the Seed Creation Units were $2,619,241.20 (an amount representing 760 ether). Further, the transaction and other costs incurred in connection with the Seed Creation Units were paid by the Seed Capital Investor and not borne by the Fund. The Seed Capital Investor will act as a statutory underwriter with respect to the Seed Creation Units. Shares of the Fund were first listed and began trading on July 23, 2024. |
Related Parties - Additional In
Related Parties - Additional Information (Details) - Sponsor [Member] - Frankin Resources Inc [Member] | 1 Months Ended |
Jun. 30, 2024 USD ($) | |
Related Party Transaction [Line Items] | |
Percentage of outstanding shares | 100% |
Operating costs and expenses | $ 500,000 |
Franklin Ethereum ETF [Member] | |
Related Party Transaction [Line Items] | |
Percentage of outstanding shares | 100% |
Operating costs and expenses | $ 500,000 |