VanEck Ethereum ETF

VanEck Ethereum ETF is an exchange-traded fund structured as a Delaware statutory trust. The Trust operates as a passive investment vehicle designed to track the performance of the price of ether (ETH), less fund operational expenses. Its primary asset consists of ETH held by third-party custodians, enabling investors to gain investment exposure to ETH through traditional brokerage accounts without managing digital wallets, trading directly on cryptocurrency platforms, or participating in network validation. The Trust issues and redeems shares in large blocks known as Baskets exclusively to authorized participants, consisting of registered broker-dealers and financial institutions, using either cash or in-kind transactions.

The Trust does not operate commercial physical locations or maintain dedicated corporate facilities, conducting its administrative operations via designated service providers. Custody of its digital assets is distributed across accounts maintained by Gemini Trust Company, LLC and Coinbase Custody Trust Company, LLC, alongside cash custody handled by State Street Bank and Trust Company. The Trust’s principal executive offices are located in New York, New York, managed c/o its sponsor, VanEck Digital Assets, LLC.

Summary of the business section of VanEck Ethereum ETF's latest annual report, written by StockData.