---
title: "Cotwo Advisors Physical European Carbon Allowance Trust reports $0.000171M revenue, $(2.99) EPS"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282900366.md"
description: "Cotwo Advisors Physical European Carbon Allowance Trust reported a revenue of $0.000171 million and a net loss of $(0.298801) million, resulting in an EPS of $(2.99). The trust, formed in January 2023, primarily invests in European Union Allowances (EUAs) and has a management fee of 0.79%. Its net asset value decreased from $19.20 to $16.21 due to market volatility influenced by regulatory and geopolitical factors. The trust began trading on NYSE Arca in June 2025."
datetime: "2026-04-15T21:11:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282900366.md)
  - [en](https://longbridge.com/en/news/282900366.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282900366.md)
---

# Cotwo Advisors Physical European Carbon Allowance Trust reports $0.000171M revenue, $(2.99) EPS

Cotwo Advisors Physical European Carbon Allowance Trust reported minimal investment income of $0.000171 million (interest/investment income of $171) for the period and recorded a net decrease in net assets from operations of $(0.298801) million, equivalent to a net loss per share of $(2.99). The trust's operating expenses included Sponsor management fees of $3,720, contributing to operating loss of $(0.00372) million. As an investment vehicle holding European carbon allowances, revenue reflects interest/investment income rather than traditional operating sales.

**Financial Highlights**

-   **Revenue**: $0.000171 million (Investment/Interest Income of $171)
-   **Gross Profit**: $0 million
-   **Operating Income**: $(0.00372) million (includes Sponsor management fees of $3,720)
-   **Net Income**: $(0.298801) million (net decrease in net assets resulting from operations)
-   **Net Income Per Share**: $(2.99)

**Business Highlights**

-   **Trust formation and listing**: Trust formed January 12, 2023; S-1 declared effective April 29, 2025; began trading on NYSE Arca June 20, 2025.
-   **Primary asset focus**: Invests substantially all assets in European Union Allowances (EUAs); holdings limited to EUAs and cash.
-   **Operations and fee structure**: Sponsor manages routine operations and pays certain expenses; Trust pays an annualized Sponsor management fee of 0.79%.
-   **NAV and market dynamics**: Net asset value declined from $19.20 to $16.21 over the Dec–Feb period, with EUA price volatility driven by regulatory signals, weather, geopolitics, and speculative positioning.
-   **Creation/redemption mechanism**: Shares are created and redeemed in 50,000-share Baskets by Authorized Participants, using in‑kind or cash transactions supported by Liquidity Providers.

Original SEC Filing: COTWO ADVISORS PHYSICAL EUROPEAN CARBON ALLOWANCE TRUST \[ CTWO \] - 10-Q - Apr. 15, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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