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Bitwise Ethereum ETF Beneficial Interest (ETHW+0.58%) has filed its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The report indicates that the Trust held a net closing balance of 121,101.8582 ether with a total market value of $405,188,652 based on the Pricing Index price of $3,345.85 used to determine the Trust’s NAV.
Net realized and unrealized gain on investment in ether for the period from July 22, 2024, to December 31, 2024, was approximately $815, which includes a net realized loss of $9,412 on the sale of ether for redemptions and net change in unrealized appreciation on investment in ether of approximately $10,227.
The Trust commenced operations on July 22, 2024, and its Shares began trading on the NYSE Arca on July 23, 2024, under the ticker symbol 'ETHW'.
The Trust’s investment objective is to provide shareholders with exposure to the value of ether held by the Trust, reflective of the actual ether market, less the expenses of the Trust’s operations and other liabilities.
The Trust is passively managed and does not pursue active management investment strategies. The Sponsor does not actively manage the ether held by the Trust.
The Trust’s only assets are ether and cash. The Trust may come into possession of rights incident to its ownership of ether, referred to as 'Incidental Rights', and any digital assets acquired through these rights are referred to as 'IR Assets'.
The Trust may incur certain extraordinary, non-recurring expenses that are not assumed by the Sponsor, including taxes and governmental charges, any applicable brokerage commissions, and extraordinary legal fees and expenses.
The Trust is not a registered investment company under the Investment Company Act of 1940 and is not subject to the Commodity Exchange Act.
The Trust faces risks associated with digital assets, including extreme volatility in the trading prices of ether, regulatory changes, and potential cybersecurity threats.
The Trust is an 'emerging growth company' as defined in the Jumpstart Our Business Startups Act of 2012 and will not be required to comply with certain disclosure requirements applicable to other public companies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bitwise Ethereum ETF Beneficial Interest annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.