iShares Ethereum Trust ETF

The iShares Ethereum Trust is a Delaware statutory trust that holds ether in segregated custody and issues shares providing investors with convenient fractional exposure to ether's price performance without requiring direct cryptocurrency ownership or management. The Trust generates no income and is sustained through periodic ether sales, with its primary recurring expense being the Sponsor's Fee (a percentage of net asset value) paid by BlackRock Fund Advisors, along with custodian and administrative costs; extraordinary expenses such as taxes and transaction fees are paid from ether sales. Shares trade on NASDAQ, and the Trust facilitates creation and redemption through Authorized Participants in blocks of shares, executing ether trades through designated counterparties and valuing holdings daily using an index-based pricing method.