5 unchanged sentences
On June 17, 2024, Invesco Ltd., subject to certain conditions, purchased 4,000 Shares (the “Initial Seed Shares”) in exchange for $100,000, which comprised the initial purchase of the Trust’s Shares.
−Removed: The Trust commenced trading on the Cboe BZX Inc.
+Added: The Trust commenced trading on the Cboe BZX Exchange, Inc.
(the “Exchange”) on July 23, 2024.
1 unchanged sentence
The Trust’s investment objective is to reflect the performance of the spot price of ether as measured using the Lukka Prime Ethereum Reference Rate (the “Benchmark”), less the Trust’s expenses and other liabilities.
−Removed: In seeking to achieve its investment objective, the Trust will hold ether.
+Added: In seeking to achieve its investment objective, the Trust holds ether.
The Trust is passively managed and the Sponsor does not actively manage the ether held by the Trust.
114 unchanged sentences
In connection with both creation and redemption transactions, the Execution Agent, pursuant to the oversight of the Sponsor, will decide how and with which Ether Counterparty to transact on the Trust’s behalf.
+Added: As of December 31, 2025, Virtu Financial Singapore Pte.
+Added: Ltd., JSCT, LLC, Wintermute Trading Ltd., Flow Traders B.V., FalconX Bravo, Inc., and Cumberland DRW LLC have been identified as Ether Counterparties.
+Added: JSCT, LLC is an affiliate of Jane Street Capital LLC and Virtu Financial Singapore Pte.
+Added: is an affiliate of Virtu Americas LLC.
+Added: Each of Jane Street Capital LLC and Virtu Americas LLC is an Authorized Participant.
+Added: Additional Ether Counterparties may be added at any time.
In addition, as part of this agreement, the Execution Agent has agreed to co-brand and co-market the Trust and the Sponsor has licensed the use of certain Execution Agent trademarks, service marks and trade names in connection with the Trust.
20 unchanged sentences
the Digital Assets, Financial Technology and Inclusion Subcommittee and the Commodity Markets, Digital Assets, and Rural Development Subcommittee, each of which were formed in part to analyze issues concerning crypto assets and demonstrate a legislative intent to develop and consider the adoption of federal legislation designed to address the perceived need for regulation of and concerns surrounding the crypto industry.
−Removed: However, the extent and content of any forthcoming laws and regulations are not yet ascertainable with certainty, and it may not be ascertainable in the near future.
−Removed: A divided Congress makes any prediction difficult.
+Added: On July 18, 2025, the GENIUS Act was signed into law, becoming the first federal law specifically regulating the issuance, custody and other stablecoin-related matters in the United States.
+Added: Contemporaneously, the proposed CLARITY Act, which seeks to regulate digital assets markets and digital assets trading platforms in the United States, was passed by the House of Representatives in July 2025 and is under review by the Senate.
+Added: The extent and content of any additional
+Added: forthcoming laws and regulations are not yet ascertainable with certainty, and it may not be ascertainable in the near future.
The Trust cannot predict how these and other related events will affect the Trust or the crypto asset business.
7 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.