<span item_type="fundamental" item_id="40f7051c7e92d4fb3ebf6d2669c23db4" counter_id="ETF/US/ETH" env="prod"></span><span item_type="announcement" item_id="579536648544390273" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 0.</p><p>EBIT: As of FY2025 Q3, the actual value is USD -992 K.</p><p></p><h3>Segment Revenue</h3><ul><li>The Trust’s net assets increased to $3,001,975 as of September 30, 2025, from $1,572,914 as of December 31, 2024, reflecting a 91% increase over the nine-month period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2020455/000119312525266931/eth-20250930.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li>Net realized and unrealized gain on investment in Ether for the three months ended September 30, 2025, was $932,923, driven by Ether price appreciation from $2,516.23 per Ether as of June 30, 2025, to $4,161.61 per Ether as of September 30, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2020455/000119312525266931/eth-20250930.htm"></span></li><li>Net increase in net assets resulting from operations was $931,931 for the three months ended September 30, 2025, which consisted of the net realized and unrealized gain on investment in Ether, less the Sponsor’s Fee of $992.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2020455/000119312525266931/eth-20250930.htm"></span></li></ul><h3>Cash Flow</h3><ul><li>The Trust does not maintain a cash balance and has not recorded any cash flow from its operations, as it only receives and holds cash to facilitate creations and redemptions pursuant to Cash Orders.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2020455/000119312525266931/eth-20250930.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li>The Trust’s investment in Ether increased from 470,875.75775088 Ether as of December 31, 2024, to 721,349.34169850 Ether as of September 30, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2020455/000119312525266931/eth-20250930.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: The Trust aims to reflect the value of Ether held, less expenses, and does not utilize leverage or derivatives. The Trust’s strategy is to provide investors with a cost-effective and convenient way to gain investment exposure to Ether.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2020455/000119312525266931/eth-20250930.htm"></span></li><li><strong>Non-Core Business</strong>: The Trust began staking its Ether on October 6, 2025, as part of its strategy to enhance returns.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2020455/000119312525266931/eth-20250930.htm"></span></li></ul>

Grayscale Ethereum Mini Trust ETF | 10-Q: FY2025 Q3 Revenue: USD 0