17 unchanged sentences
We, Brian Hartigan, Principal Executive Officer, and Kelli Gallegos, Principal Financial and Accounting Officer, Investment Pools, of the Sponsor, assessed the effectiveness of the Trust’s internal control over financial reporting as of December 31, 2025.
−Removed: In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control—Integrated Framework (2013).
+Added: In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control—Integrated Framework (2013).
Based on our assessment and those criteria, we have concluded that the Trust maintained effective internal control over financial reporting as of December 31, 2025.
47 unchanged sentences
Euro deposits, non-interest bearing
−Removed: Subscriptions receivable
−Removed: Cash due from Depository
+Added: Dollar Cash at Depository
Receivable from accrued interest
Euro deposits, non-interest bearing, overdrawn
+Added: Due to Broker
+Added: Redemptions payable
Accrued Sponsor’s fee
20 unchanged sentences
For the Year Ended December 31, 2025
−Removed: Shareholders'
+Added: Retained Earnings
+Added: Total Shareholders’ Equity
+Added: Redeemable Capital Shares
Balance at December 31, 2024
14 unchanged sentences
For the Year Ended December 31, 2024
−Removed: Shareholders'
+Added: Retained Earnings
+Added: Total Shareholders’ Equity
+Added: Redeemable Capital Shares
Balance at December 31, 2023
16 unchanged sentences
Net Comprehensive Income (Loss)
−Removed: Adjustments to reconcile net comprehensive income (loss) to net cash
−Removed: provided by (used in) operating activities:
+Added: Adjustments to reconcile net comprehensive income
+Added: (loss) to net cash provided by (used in) operating activities:
Change in operating assets and liabilities:
2 unchanged sentences
Cash due from Depository
+Added: Due to Broker
Net cash provided by (used in) operating activities
5 unchanged sentences
( 119,945,197
−Removed: Increase (decrease) in payable for Euro deposits overdrawn
+Added: Increase (decrease) in payable for Euro Dollar deposits overdrawn
Net cash provided by (used in) financing activities
34 unchanged sentences
Segment Reporting
−Removed: In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280):
−Removed: 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.
−Removed: The Trust represents a single operating segment.
−Removed: 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 Trust represents a single operating segment, in accordance with ASC 280, Segment Reporting.
+Added: Subject to the oversight and, when applicable, approval of the Board of Managers, portfolio managers and senior executives at the Sponsor act as the Trust’s chief operating decision maker (“CODM”), assessing performance and making decisions about resource allocation within the Trust.
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.
The financial information provided to and reviewed by the CODM is consistent with that presented in the Trust’s financial statements.
−Removed: 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
8 unchanged sentences
The redeemable capital Shares are adjusted to redemption value and these adjustments are recorded against retained earnings.
+Added: The Trust may hold a USD cash balance to pay the Trust's expenses and distribute excess interest.
+Added: These amounts are reflected as U.S.
+Added: Dollar cash at Depository on the Statements of Financial Condition.
Interest Income
47 unchanged sentences
For the year ended December 31, 2025, there were euro principal deposits of 456,702,188 and euro principal redemptions of 258,336,581 resulting in an ending euro principal balance of 359,824,167 .
−Removed: This equates to 167,191,705 USD.
+Added: This equates to 422,598,808 USD (which includes USD redemptions payable).
For the year ended December 31, 2024, there were euro principal deposits of 73,810,979 , euro principal redemptions of 110,717,094 resulting in an ending euro principal balance of 161,458,560 .
−Removed: This equates to 219,126,536 USD (which includes USD subscriptions receivable).
+Added: This equates to 167,191,705 USD.
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
−Removed: 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 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.