VanEck Ethereum ETF reported its financial performance for the period from May 20, 2024, to June 30, 2024, following its seeding date. As of June 30, 2024, the ETF had outstanding shares totaling 1,250,000, with a Net Asset Value (NAV) of $10,234,617. The net increase in net assets resulting from operations was $234,617, which also represented the net investment income for the period.
During this operational period, the ETF saw contributions for shares issued amounting to $10,100,000, with total capital share transactions reaching $10,000,000. The ETF invested in 2,929.06 ETH, with a cost basis of $10,000,000, which matched the fair value of the ether at $10,234,617, indicating a stable valuation of its primary asset. Ether constituted 100% of the ETF's net assets.
The ETF issued 202,000 shares while redeeming 2,000 shares, resulting in an ending balance of 200,000 shares outstanding. The price of ether experienced a notable increase, rising from $3,414 on June 25, 2024, to $3,494 by June 30, 2024. This contributed to a significant percentage increase in NAV of 10,135% from the inception date to the end of the reporting period. The highest NAV per share during the quarter was recorded at $50.48, while the lowest was $49.40.
Overall, the VanEck Ethereum ETF demonstrated strong performance in its initial operational phase, characterized by substantial asset growth and a robust investment in ether, reflecting favorable market conditions for the cryptocurrency during this period.
About VanEck Ethereum ETF
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