The 21Shares Core Ethereum ETF, formed on September 5, 2023, reported its financial performance for the period ending September 30, 2024. As of this date, the Trust's total assets were valued at $12.6 million, all attributed to its investment in ether, which was recorded at a fair value of $12.6 million, down from a cost basis of $15.8 million. The Trust held 4,850 ether, reflecting a significant depreciation in value, with the price per ether dropping from $3,423.00 on June 30, 2024, to $2,594.43 by September 30, 2024.

The net asset value (NAV) per share decreased from $17.12 at the beginning of the reporting period to $12.97 by the end, marking a total return of -24.24% for the three months ended September 30, 2024. The Trust's net increase in net assets resulting from operations for this period was a loss of approximately $3.2 million, which was consistent with the unrealized depreciation on its ether investment.

During the three months ended September 30, 2024, the Trust issued shares totaling approximately $15.5 million, contributing to a net change in capital transactions of the same amount. The total contributions for shares issued from May 1, 2024, through September 30, 2024, amounted to $15.8 million. The Trust's net assets at the end of the period were $12.6 million, reflecting a significant decline from the beginning of the period's net assets of $342,300.

The Trust's operational structure includes a unitary Sponsor Fee of 0.21% of its ether holdings, which has been waived for the first six months or until the Trust's assets reach $500 million. The Sponsor also covers ordinary operating expenses, excluding extraordinary costs, which the Trust is responsible for.

The Trust's financial statements were prepared on an unaudited basis, and it is classified as a "grantor trust" for U.S. federal income tax purposes, meaning it is not subject to federal income tax. The Trust has not faced any material legal proceedings and has not reported any significant changes in risk factors since its last disclosure.

Custodial services for the Trust are provided by Coinbase Custody Trust Company, BitGo New York Trust Company, and Anchorage Digital Bank N.A., with insurance coverage for certain losses of digital assets, although the adequacy of this coverage is not guaranteed.