(Amounts in thousands, except ETC amounts)

Quantity

Fair Value

Balance at December 31, 2023

11,548,776.17230000

$

253,958

ETC contributed

-

-

ETC distributed for Sponsor’s Fee, related party

(285,149.91726843

)

(7,157

)

Net change in unrealized appreciation on investment in ETC

-

31,251

Net realized gain on investment in ETC

-

5,003

Balance at December 31, 2024

11,263,626.25503150

$

283,055

ETC contributed

-

-

ETC distributed for Sponsor’s Fee, related party

(208,664.57666045

)

(4,130

)

Net change in unrealized appreciation on investment in ETC

-

(78,289

)

Net realized gain on investment in ETC

-

2,554

Balance at September 30, 2025

11,054,961.67837105

$

203,190