REPORT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING
FIRM


To the Board of Trustees of
EntrepreneurShares Series Trust
and the Shareholders of ERShares
Entrepreneur 30 ETF
and ERShares Non-US Small Cap
ETF


In planning and performing our audits of
the financial statements ERShares
Entrepreneur 30 ETF and ERShares
Non-US Small Cap ETF, each a series
of shares of beneficial interest in
EntrepreneurShares Series Trust (the
Funds), as of June 30, 2020, and for
the year then ended, in accordance with
the standards of the Public Company
Accounting Oversight Board (United
States) (PCAOB), we considered the
Funds internal control over financial
reporting, including controls over
safeguarding securities, as a basis for
designing our auditing procedures for
the purpose of expressing our opinion
on the financial statements and to
comply with the requirements of Form
N-CEN, but not for the purpose of
expressing an opinion on the
effectiveness of the Funds internal
control over financial reporting.
Accordingly, we express no such
opinion.

The management of the Funds is
responsible for establishing and
maintaining effective internal control
over financial reporting.  In fulfilling this
responsibility, estimates and judgments
by management are required to assess
the expected benefits and related costs
of controls.  A funds internal control over
financial reporting is a process designed
to provide reasonable assurance
regarding the reliability of financial
reporting and the preparation of financial
statements for external purposes in
accordance with accounting principles
generally accepted in the United States
of America (GAAP).  A funds internal
control over financial reporting includes
those policies and procedures that (1)
pertain to the maintenance of records
that, in reasonable detail, accurately and
fairly reflect the transactions and
dispositions of the assets of the fund; (2)
provide reasonable assurance that
transactions are recorded as necessary
to permit preparation of the financial
statements in accordance with GAAP,
and that receipts and expenditures of
the fund are being made only in
accordance with authorizations of
management and trustees of the fund;
and (3) provide reasonable assurance
regarding prevention or timely detection
of unauthorized acquisition, use or
disposition of a funds assets that could
have a material effect on the financial
statements.

Because of inherent limitations, internal
control over financial reporting may not
prevent or detect misstatements.  Also,
projections of any evaluation of
effectiveness to future periods are
subject to the risk that controls may
become inadequate because of
changes in conditions or that the degree
of compliance with the policies or
procedures may deteriorate.

A deficiency in internal control over
financial reporting exists when the
design or operation of a control does not
allow management or employees, in the
normal course of performing their
assigned functions, to prevent or detect
misstatements on a timely basis.  A
material weakness is a deficiency, or
combination of deficiencies, in internal
control over financial reporting, such
that there is a reasonable possibility that
a material misstatement of the Funds
annual or interim financial statements
will not be prevented or detected on a
timely basis.



Our consideration of the Funds internal
control over financial reporting was for
the limited purpose described in the first
paragraph and would not necessarily
disclose all deficiencies in internal
control that might be material
weaknesses under standards
established by the PCAOB.  However,
we noted no deficiencies in the Funds
internal control over financial reporting
and its operation, including controls over
safeguarding securities, that we
consider to be a material weakness, as
defined above, as of June 30, 2020.

This report is intended solely for the
information and use of management and
the shareholders of ERShares
Entrepreneur 30 ETF and ERShares
Non-US Small Cap ETF, the Board of
Trustees of EntrepreneurShares Series
Trust and the Securities and Exchange
Commission and is not intended to be
and should not be used by anyone other
than these specified parties.

/s/ BBD, LLP

BBD, LLP


Philadelphia, Pennsylvania
August 27, 2020