Grayscale Ethereum Mini Trust ETH
For the period ended Sep 30, 2024. Filed Nov 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 1, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Schedule of Investment at September 30, 2024
SCHE DULE OF INVESTMENT (UNAUDITED)
(Amounts in thousands, except quantity of Ether and percentages)
| September 30, 2024(1) | |||||||
|---|---|---|---|---|---|---|---|
| Quantity ofEther · Cost · Fair Value · % of NetAssets | |||||||
| Investment in Ether | 391,232.97302030 | $1,301,240 | $1,015,027 | 100% | |||
| Total Investment | $1,301,240 | $1,015,027 | 100% | ||||
| Net assets | $1,301,240 | $1,015,027 | 100% | ||||
(1)
No comparative financial statements have been provided as the Trust’s operations commenced on July 23, 2024. Prior to the commencement of operations on July 23, 2024, the Sponsor redeemed the initial seed capital of 10,000 shares for $100,000.
STATEMENT OF OPERATIONS (UNAUDITED)
(Amounts in thousands)
| July 23, 2024 (the commencement of the Trust’s operations) to September 30, 2024(1) | |
|---|---|
| Investment income: | |
| Investment income · $ · - | |
| Expenses: | |
| Sponsor’s Fee, related party | 276 |
| Gross expenses | 276 |
| Sponsor’s Fee Waiver, related party | (276) |
| Net expenses | - |
| Net investment loss | - |
| Net realized and unrealized loss from: | |
| Net realized loss on investment in Ether sold to pay expenses | - |
| Net realized loss on investment in Ether sold for redemption of Shares | (3,536) |
| Net change in unrealized depreciation on investment in Ether | (286,213) |
| Net realized and unrealized loss on investment | (289,749) |
| Net decrease in net assets resulting from operations | $(289,749) |
(1)
No comparative financial statements have been provided as the Trust’s operations commenced on July 23, 2024. Prior to the commencement of operations on July 23, 2024, the Sponsor redeemed the initial seed capital of 10,000 shares for $100,000.
STATEMENT OF CHANGES IN NET ASSETS (UNAUDITED)
(Amounts in thousands, except change in Shares outstanding)
| July 23, 2024 (the commencement of the Trust’s operations) to September 30, 2024(1) | |
|---|---|
| Decrease in net assets from operations: | |
| Net investment loss · $ · - | |
| Net realized loss on investment in Ether sold to pay expenses | - |
| Net realized loss on investment in Ether sold for redemption of Shares | (3,536) |
| Net change in unrealized depreciation on investment in Ether | (286,213) |
| Net decrease in net assets resulting from operations | (289,749) |
| Increase in net assets from capital share transactions: | |
| Shares issued | 310,876 |
| Shares issued from Initial Distribution(2) | 1,010,935 |
| Shares redeemed | (17,035) |
| Net increase in net assets resulting from capital share transactions | 1,304,776 |
| Total increase in net assets from operations and capital share transactions | 1,015,027 |
| Net assets: | |
| Beginning of period | - |
| End of period | $1,015,027 |
| Change in Shares outstanding: | |
| Shares outstanding at beginning of period | - |
| Shares issued | 111,430,000 |
| Shares issued from Initial Distribution(2) | 310,158,500 |
| Shares redeemed | (6,400,000) |
| Net increase in Shares | 415,188,500 |
| Shares outstanding at end of period | 415,188,500 |
(1)
No comparative financial statements have been provided as the Trust’s operations commenced on July 23, 2024. Prior to the commencement of operations on July 23, 2024, the Sponsor redeemed the initial seed capital of 10,000 shares for $100,000.
(2)
Represents the impact of the Initial Distribution of 292,262.98913350 Ether, with a value of approximately $1,010.9 million from Grayscale Ethereum Trust (ETH), completed on July 23, 2024, as discussed in Note 4.
STATEMENT OF CASH FLOWS (UNAUDITED)
(Amounts in thousands)
| July 23, 2024 (the commencement of the Trust’s operations) to September 30, 2024(1) | ||
|---|---|---|
| Cash used in operating activities | ||
| Net decrease in net assets resulting from operations | $(289,749) | |
| Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities: | ||
| Purchases of Ether | $(310,876) | |
| Proceeds from Ether sold to pay redemptions and expenses | 17,035 | |
| Net realized (gain) loss | 3,536 | |
| Net change in unrealized depreciation | 286,213 | |
| Change in operating assets and liabilities: | - | |
| Sponsor’s Fee payable | - | |
| Net cash used in operating activities | $(293,841) | |
| Cash provided by financing activities | ||
| Proceeds from issuance of capital shares | $310,876 | |
| Payments for capital shares redeemed | (17,035) | |
| Net cash provided by financing activities | $293,841 | |
| Cash | ||
| Net increase in cash | $ | - |
| Cash, beginning of period | - | |
| Cash, end of period | $ | - |
| Supplemental disclosure of noncash financing activities | ||
| Transfer of Ether from Initial Distribution(2) | $1,010,935 | |
(1)
No comparative financial statements have been provided as the Trust’s operations commenced on July 23, 2024. Prior to the commencement of operations on July 23, 2024, the Sponsor redeemed the initial seed capital of 10,000 shares for $100,000.
(2)
Represents the impact of the Initial Distribution of 292,262.98913350 Ether, with a value of approximately $1,010.9 million from Grayscale Ethereum Trust (ETH), completed on July 23, 2024, as discussed in Note 4.
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