<span item_type="fundamental" item_id="9f3fa3c8221ba4260dc85a4666735d56" counter_id="ETF/US/TETH" env="prod"></span><span item_type="announcement" item_id="582790944386390529" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 16.98 M.</p><p>EBIT: As of FY2025 Q3, the actual value is USD 16.96 M.</p><p></p><h3>Segment Revenue</h3><ul><li>The Trust’s NAV increased from $23,002,554 on June 30, 2025, to $45,914,704 on September 30, 2025, primarily due to an increase in the price of ether by 65.37% and a net increase in the number of shares outstanding by 1,830,000.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1992508/000121390025110784/ea0263609-10q_21shares.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li>For the three months ended September 30, 2025, the Trust’s net increase in net assets resulting from operations was $16,956,542, driven by a change in unrealized appreciation on investment in ether of $4,375,913, a net realized gain of $913 on the sale of ether for the Sponsor’s fee, and a net realized gain on investment in ether sold for redemptions of $12,602,477.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1992508/000121390025110784/ea0263609-10q_21shares.htm"></span></li><li>For the nine months ended September 30, 2025, the Trust’s net increase in net assets resulting from operations was $13,553,224, with a change in unrealized appreciation on investment in ether of $4,464,507, a net realized gain of $593 on the sale of ether for the Sponsor’s fee, and a net realized gain on investment in ether sold for redemptions of $9,126,375.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1992508/000121390025110784/ea0263609-10q_21shares.htm"></span></li></ul><h3>Cash Flow</h3><ul><li>The Trust’s expenses for the three-month period were $22,761, relating to the Sponsor’s fees.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1992508/000121390025110784/ea0263609-10q_21shares.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li>As of September 30, 2025, the Trust had a net closing balance of 11,034.4578 ether with a value of $45,591,732, based on the Index price of $4,131.76 on September 30, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1992508/000121390025110784/ea0263609-10q_21shares.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: The Trust aims to track the performance of ether, adjusted for expenses and liabilities, and to reflect rewards from staking a portion of the Trust’s ether, provided it can do so without undue legal or regulatory risk.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1992508/000121390025110784/ea0263609-10q_21shares.htm"></span></li><li><strong>Non-Core Business</strong>: The Trust has entered into agreements to allow for staking of its ether, with the Sponsor receiving a portion of the staking rewards. This strategy involves engaging third-party staking services providers to conduct staking activities.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1992508/000121390025110784/ea0263609-10q_21shares.htm"></span></li></ul>

21Shares Ethereum ETF | 10-Q: FY2025 Q3 Revenue: USD 16.98 M