31 unchanged sentences
Opinions on the Financial Statements and Internal Control over Financial Reporting
−Removed: We have audited the accompanying statements of financial condition of Invesco CurrencyShares Euro Trust (the “Trust”) as of December 31, 2023 and 2022, and the related statements of comprehensive income, of changes in shareholders’ equity and redeemable capital shares and of cash flows for each of the two years in the period ended December 31, 2023, including the related notes (collectively referred to as the “financial statements”).We also have audited the Trust’s internal control over financial reporting as of December 31, 2023, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
+Added: We have audited the accompanying statements of financial condition of Invesco CurrencyShares Euro Trust (the “Trust”) as of December 31, 2024 and 2023, and the related statements of comprehensive income, of changes in shareholders’ equity and redeemable capital shares and of cash flows for each of the two years in the period ended December 31, 2024, including the related notes (collectively referred to as the “financial statements”).
+Added: We also have audited the Trust’s internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Trust as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2024 in conformity with accounting principles generally accepted in the United States of America.
31 unchanged sentences
Euro deposits, interest bearing
+Added: Euro deposits, non-interest bearing
Subscriptions receivable
16 unchanged sentences
Sponsor’s fee
−Removed: Interest Expense on currency deposits
Total Expenses
47 unchanged sentences
Accrued Sponsor’s fee
−Removed: Accrued interest expense
Cash due from Depository
37 unchanged sentences
The financial statements of the Trust have been prepared using accounting principles generally accepted in the United States of America (“U.S.
−Removed: Certain reclassifications have been made to prior years' financial statements to conform to the current year presentation.
Accounting Estimates
3 unchanged sentences
In addition, the Trust monitors for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are issued.
+Added: Segment Reporting
+Added: In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280):
+Added: Improvements to Reportable Segment Disclosures (“ASU 2023-07”), with the intent of improving reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment's profit or loss and assess potential future cash flows for each reportable segment and the entity as a whole thereby enabling better understanding of how an entity's segments impact overall performance.
+Added: The Trust represents a single operating segment.
+Added: Subject to the oversight and, when applicable, approval of the Board of Managers, the Trust's Sponsor acts as the Trust's chief operating decision maker (“CODM”), assessing performance and making decisions about resource allocation.
+Added: The CODM monitors the operating results as a whole and the Trust's long-term strategic asset allocation is determined in accordance with the terms of its prospectus based on a defined investment strategy.
+Added: The financial information provided to and reviewed by the CODM is consistent with that presented in the Trust's financial statements.
+Added: Adoption of the new standard impacted the Trust's financial statement note disclosures only and did not affect the Trust's financial position or the results of its operations.
Foreign Currency Translation
27 unchanged sentences
These exceptions include expenses not assumed by the Sponsor (i.e., expenses other than those identified in the preceding paragraph), expenses resulting from negative interest rates, taxes and governmental charges, expenses and costs of any extraordinary services performed by the Trustee or the Sponsor on behalf of the Trust or action taken by the Trustee or the Sponsor to protect the Trust or the interests of Shareholders, indemnification of the Sponsor under the Depositary Trust Agreement, audit fees and legal expenses in excess of $ 100,000 per year.
−Removed: The only expenses of the Trust during the years ended December 31, 2023 and December 31, 2022 were the Sponsor’s fee and interest expense.
+Added: The only expenses of the Trust during the years ended December 31, 2024 and December 31, 2023 were the Sponsor’s fee.
Federal Income Taxes
16 unchanged sentences
(1) the non-U.S.
−Removed: Shareholder is an individual and is present in the United States for 183 days or more during the taxable year of the sale or other disposition, and the gain is treated as being from United
−Removed: States sources;
+Added: Shareholder is an individual and is present in the United States for 183 days or more during the taxable year of the sale or other disposition, and the gain is treated as being from United States sources;
or (2) the gain is effectively connected with the conduct by the non-U.S.
8 unchanged sentences
For the year ended December 31, 2024, there were euro principal deposits of 73,810,979 and euro principal redemptions of 110,717,094 resulting in an ending euro principal balance of 161,458,560 .
−Removed: This equates to 219,125,708 USD (which includes USD subscriptions receivable).
−Removed: For the year ended December 31, 2022 , there were euro principal deposits of 679,568,682 , euro principal redemptions of 596,144,853 and euro withdrawals (to pay expenses) of 1,970,473 , resulting in an ending euro principal balance of 267,562,001 .
This equates to 167,191,705 USD.
+Added: For the year ended December 31, 2023 , there were euro principal deposits of 143,008,612 , euro principal redemptions of 212,205,189 resulting in an ending euro principal balance of 198,366,488 .
+Added: This equates to 219,126,536 USD (which includes USD subscriptions receivable).
Net interest, if any, associated with creation and redemption activity is held in a euro-denominated non-interest-bearing account, and any balance is distributed in full as part of the monthly income distributions, if any.
16 unchanged sentences
Only Authorized Participants (as defined below) may place orders to create and redeem Baskets.
−Removed: An Authorized Participant is a Depository Trust Company (“DTC”) participant that is a registered broker-dealer or other institution eligible to settle securities transactions through the book-entry facilities of the DTC and which has entered into a contractual arrangement with the Trust and the Sponsor governing, among other matters, the creation and redemption process.
+Added: An Authorized Participant is a Depository Trust Company (“DTC”) participant that is a registered broker-dealer or other
+Added: institution eligible to settle securities transactions through the book-entry facilities of the DTC and which has entered into a contractual arrangement with the Trust and the Sponsor governing, among other matters, the creation and redemption process.
Authorized Participants may redeem their Shares at any time in Baskets.
17 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.