Invesco Galaxy Ethereum ETF
For the period ended Mar 31, 2026. Filed May 7, 2026.
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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.
Mar 31, 2026 · Filed May 7, 2026
QETH$21.13-4.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
Statements of Financial Condition
March 31, 2026 and December 31, 2025
| March 31, | December 31, | |
|---|---|---|
| 2026 | 2025 | |
| Assets | ||
| Investments in Ether, at value (cost $19,374,816 and $22,471,959, respectively) | $18,900,294 | $25,853,745 |
| Total Assets | $18,900,294 | $25,853,745 |
| Liabilities | ||
| Payable for: | ||
| Accrued Sponsor Fee | $4,313 | $5,564 |
| Total Liabilities | 4,313 | 5,564 |
| Commitments and Contingencies (Note 9) | ||
| Net Assets | $18,895,981 | $25,848,181 |
| Net assets consist of: | ||
| Paid-in-capital | $24,104,228 | $23,562,084 |
| Distributable earnings (loss) | (5,208,247) | 2,286,097 |
| $18,895,981 | $25,848,181 | |
| Shares outstanding | 903,000 | 873,000 |
| Net asset value per share | $20.93 | $29.61 |
| Market value per share | $20.86 | $29.59 |
Schedule of Investments
March 31, 2026
| Description · Quantity · Cost · Fair Value · % of Net Assets | ||||||
|---|---|---|---|---|---|---|
| Cryptocurrency | ||||||
| Ether | 8,992 | $19,374,816 | $18,900,294 | 100.02% | ||
| Total Investments | 8,992 | $19,374,816 | $18,900,294 | 100.02% | ||
| Other Assets Less Liabilities | $(4,313) | (0.02)% | ||||
| Net assets | $18,895,981 | 100.00% | ||||
Schedule of Investments
December 31, 2025
| Description · Quantity · Cost · Fair Value · % of Net Assets | ||||||
|---|---|---|---|---|---|---|
| Cryptocurrency | ||||||
| Ether | 8,699 | $22,471,959 | $25,853,745 | 100.02% | ||
| Total Investments | 8,699 | $22,471,959 | $25,853,745 | 100.02% | ||
| Other Assets Less Liabilities | $(5,564) | (0.02)% | ||||
| Net assets | $25,848,181 | 100.00% | ||||
Statements of Income and Expenses
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2026 | 2025 | |
| Income | ||
| Total Income | $— | $— |
| Expenses | ||
| Sponsor Fee | 14,251 | 12,423 |
| Total Expenses | 14,251 | 12,423 |
| Net Investment Income (Loss) | (14,251) | (12,423) |
| Net Realized and Net Change in Unrealized Gain (Loss) | ||
| Net Realized Gain (Loss) on | ||
| Investments in Ether Sold to Pay Sponsor Fee | (3,374) | (2,850) |
| Investments in Ether Sold for Redemptions | (3,620,411) | (854,055) |
| Net Realized Gain (Loss) | (3,623,785) | (856,905) |
| Net Change in Unrealized Gain (Loss) on Investments in Ether | (3,856,308) | (10,565,458) |
| Net Realized and Net Change in Unrealized Gain (Loss) on Investments in Ether | (7,480,093) | (11,422,363) |
| Net Income (Loss) | $(7,494,344) | $(11,434,786) |
Statements of Changes in Shareholders’ Equity
| Total | |||
|---|---|---|---|
| Shares · Shareholders'Equity | |||
| Balance at December 31, 2025 | 873,000 | $25,848,181 | |
| Purchases of Shares | 490,000 | 9,837,984 | |
| Redemption of Shares | (460,000) | (9,295,840) | |
| Net Increase (Decrease) due to Share Transactions | 30,000 | 542,144 | |
| Net Income (Loss) | |||
| Net Investment Income (Loss) | (14,251) | ||
| Net Realized Gain (Loss) on Investments in Ether Sold for Sponsor Fee andRedemptions | (3,623,785) | ||
| Net Change in Unrealized Gain (Loss) on Investments in Ether | (3,856,308) | ||
| Net Income (Loss) | (7,494,344) | ||
| Net Change in Shareholders' Equity | 30,000 | (6,952,200) | |
| Balance at March 31, 2026 | 903,000 | $18,895,981 | |
| Total | |||
|---|---|---|---|
| Shares · Shareholders'Equity | |||
| Balance at December 31, 2024 | 708,000 | $23,563,253 | |
| Purchases of Shares | 115,000 | 3,057,028 | |
| Redemption of Shares | (70,000) | (1,450,909) | |
| Net Increase (Decrease) due to Share Transactions | 45,000 | 1,606,119 | |
| Net Income (Loss) | |||
| Net Investment Income (Loss) | (12,423) | ||
| Net Realized Gain (Loss) on Investments in Ether Sold for Sponsor Fee andRedemptions | (856,905) | ||
| Net Change in Unrealized Gain (Loss) on Investments in Ether | (10,565,458) | ||
| Net Income (Loss) | (11,434,786) | ||
| Net Change in Shareholders' Equity | 45,000 | (9,828,667) | |
| Balance at March 31, 2025 | 753,000 | $13,734,586 | |
Statements of Cash Flows
| 2026 | 2025 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net Income (Loss) | $(7,494,344) | $(11,434,786) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Cost of Ether purchased | (9,838,015) | (3,057,028) |
| Proceeds from Ether sold to pay Sponsor Fee | 15,501 | 15,068 |
| Proceeds from Ether sold for Redemptions | 9,295,872 | 1,450,911 |
| Net Realized (Gain) Loss on Investments in Ether Sold to pay Sponsor Fee | 3,374 | 2,850 |
| Net Realized (Gain) Loss on Investments in Ether Sold for Redemptions | 3,620,411 | 854,055 |
| Net Change in Unrealized (Gain) Loss on Investments in Ether | 3,856,308 | 10,565,458 |
| Change in operating assets and liabilities: | ||
| Accrued Sponsor Fee | (1,251) | (2,647) |
| Net cash provided by (used in) operating activities | (542,144) | (1,606,119) |
| Cash flows from financing activities: | ||
| Proceeds from purchases of Shares | 9,837,984 | 3,057,028 |
| Redemption of Shares | (9,295,840) | (1,450,909) |
| Net cash provided by (used in) financing activities | 542,144 | 1,606,119 |
| Net change in cash | — | — |
| Cash at beginning of period | — | — |
| Cash at end of period | $— | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.