Franklin Ethereum Trust Files Q4 2024 10-Q
Ticker: EZET · Form: 10-Q · Filed: Feb 12, 2025 · CIK: 2011535
Sentiment: neutral
Topics: 10-Q, cryptocurrency, trust
TL;DR
Franklin Ethereum Trust (EZET) filed its 10-Q for 12/31/24. All systems go.
AI Summary
Franklin Ethereum Trust, sponsored by Franklin Holdings, LLC, filed its quarterly report on Form 10-Q for the period ended December 31, 2024. The trust is incorporated in Delaware and its shares, trading under the symbol EZET, are registered on the Cboe BZX Exchange, Inc. The filing was made on February 12, 2025.
Why It Matters
This filing provides investors with an update on the financial performance and operations of the Franklin Ethereum Trust for the quarter ending December 31, 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly filing for an existing trust and does not contain unusual or high-risk information.
Key Players & Entities
- Franklin Ethereum Trust (company) — Registrant
- Franklin Holdings, LLC (company) — Sponsor
- December 31, 2024 (date) — Period End Date
- February 12, 2025 (date) — Filing Date
- EZET (company) — Trading Symbol
- Cboe BZX Exchange, Inc. (company) — Exchange
FAQ
What is the trading symbol for Franklin Ethereum Trust?
The trading symbol for Franklin Ethereum Trust is EZET.
On which exchange are the shares of Franklin Ethereum Trust registered?
The shares are registered on the Cboe BZX Exchange, Inc.
What is the fiscal year end for Franklin Ethereum Trust?
The fiscal year end for Franklin Ethereum Trust is March 31.
Who is the sponsor of the Franklin Ethereum Trust?
The sponsor of the Franklin Ethereum Trust is Franklin Holdings, LLC.
What period does this 10-Q filing cover?
This 10-Q filing covers the quarterly period ended December 31, 2024.
Filing Stats: 4,743 words · 19 min read · ~16 pages · Grade level 13.9 · Accepted 2025-02-12 16:53:16
Key Financial Figures
- $1.235 billion — rust has total annual gross revenues of $1.235 billion or more; the last day of the fiscal ye
- $1 billion — ous three-year period, issued more than $1 billion in non-convertible debt; or the date o
- $700 million — (i.e., an issuer that (1) has more than $700 million in outstanding equity held by non-affil
Filing Documents
- ef20039380_10q.htm (10-Q) — 638KB
- ef20039380_ex31-1.htm (EX-31.1) — 11KB
- ef20039380_ex31-2.htm (EX-31.2) — 11KB
- ef20039380_ex32-1.htm (EX-32.1) — 5KB
- ef20039380_ex32-2.htm (EX-32.2) — 6KB
- image1.gif (GRAPHIC) — 18KB
- 0001140361-25-004062.txt ( ) — 3949KB
- ezet-20241231.xsd (EX-101.SCH) — 29KB
- ezet-20241231_def.xml (EX-101.DEF) — 165KB
- ezet-20241231_lab.xml (EX-101.LAB) — 175KB
- ezet-20241231_pre.xml (EX-101.PRE) — 182KB
- ezet-20241231_cal.xml (EX-101.CAL) — 14KB
- ef20039380_10q_htm.xml (XML) — 608KB
FINANCIAL INFORMATION
Part I. FINANCIAL INFORMATION Page
Unaudited Financial Statements of the Trust and the Fund
Item 1. Unaudited Financial Statements of the Trust and the Fund 1
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 29
Controls and Procedures
Item 4. Controls and Procedures 29
OTHER INFORMATION
Part II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 30
Risk Factors
Item 1A. Risk Factors 30
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 30
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 30
Other Information
Item 5. Other Information 30
Exhibits
Item 6. Exhibits 30
Signatures
Signatures 32 3 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Unaudited Financial Statements of the Trust and Fund
Item 1. Unaudited Financial Statements of the Trust and Fund FRANKLIN ETHEREUM ETF FRANKLIN ETHEREUM TRUST INDEX TO UNAUDITED FINANCIAL STATEMENTS Page Combined Statement of Assets and Liabilities at December 31, 2024 for Franklin Ethereum Trust 2 Combined Schedule of Investments at December 31, 2024 for Franklin Ethereum Trust 3 Combined Statements of Operations for the three months ended December 31, 2024 and for the period from July 23, 2024 (Date of Commencement of operations) to December 31, 2024 for Franklin Ethereum Trust 4 Combined Statement of Cash Flows for the period from July 23, 2024 (Date of Commencement of operations) to December 31, 2024 for Franklin Ethereum Trust 5 Combined Statements of Changes in Net Assets for the three months ended December 31, 2024 and for the period from July 23, 2024 (Date of Commencement of operations) to December 31, 2024 for Franklin Ethereum Trust 6 Combined Notes to Financial Statements for Franklin Templeton Ethereum Trust 7 14 Schedule of Investments at December 31, 2024 for Franklin Ethereum ETF 15 16 17 18
Notes to Financial Statements for Franklin Ethereum ETF
Notes to Financial Statements for Franklin Ethereum ETF 19 1 Table of Contents FRANKLIN ETHEREUM TRUST COMBINED STATEMENT OF ASSETS AND LIABILITIES (Unaudited) December 31, 2024* Assets Investment in ether, at fair value (a) $ 41,803,344 Total assets 41,803,344 Liabilities Sponsor's fee payable - Total liabilities - Commitments and contingencies (Note 7) Net assets $ 41,803,344 Shares issued and outstanding (b) 1,650,000 Net asset value per Share $ 25.34 * No comparative period presented as the Fund's operations commenced on July 23, 2024. (a) Cost of investment in ether: $ 40,293,304 at December 31, 2024. (b) No par value, unlimited amount authorized. See accompanying notes to the unaudited financial statements. 2 Table of Contents FRANKLIN ETHEREUM TRUST COMBINED SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2024* Quantity of ether Cost Fair Value % of Net Assets Investment in ether 12,540.0000 $ 40,293,304 $ 41,803,344 100.00 % Total investments 12,540.0000 $ 40,293,304 $ 41,803,344 100.00 % Less liabilities - - % Net assets $ 41,803,344 100.00 % * No comparative period presented as the Fund's operations commenced on July 23, 2024. See accompanying notes to the unaudited financial statements. 3 Table of Contents FRANKLIN ETHEREUM TRUST COMBINED STATEMENTS OF OPERATIONS (Unaudited) For the Three Months Ended December 31, 2024* For the period July 23, 2024 (Date of commencement of operations) through December 31, 2024* Expenses: Sponsor's fee $ 18,827 $ 28,956 Less waiver ( 18,827 ) ( 28,956 ) Total expenses - - Net investment loss - - Net realized and change in unrealized gain (loss) on investment in ether Net realized gain (loss) on investment in ether 215,469 20,638 Net change in unrealized appreciation (depreciation) on investment in ether 8,286,409 1,509,264 Net realized and change in unrealized gain (loss) on investment in ether 8,501,878 1,529,902 Net increase (decrease) in net assets res