Franklin Ethereum Trust Files Q2 2025 10-Q
Ticker: EZET · Form: 10-Q · Filed: Aug 14, 2025 · CIK: 2011535
Sentiment: neutral
Topics: crypto, etf, quarterly-report
Related Tickers: ETH-USD
TL;DR
Franklin Ethereum Trust 10-Q filed for Q2 2025. EZET ETF trading on Cboe.
AI Summary
Franklin Ethereum Trust filed its 10-Q for the quarterly period ended June 30, 2025. The filing details its financial performance and operations as sponsored by Franklin Holdings, LLC. The Trust's shares trade under the ticker EZET on the Cboe BZX Exchange.
Why It Matters
This filing provides investors with crucial financial and operational updates for the Franklin Ethereum Trust, impacting decisions related to the EZET ETF.
Risk Assessment
Risk Level: medium — As a trust holding cryptocurrency assets, it is subject to the inherent volatility and regulatory risks associated with the digital asset market.
Key Players & Entities
- Franklin Ethereum Trust (company) — Registrant
- June 30, 2025 (date) — Quarterly period end date
- Franklin Holdings, LLC (company) — Sponsor
- EZET (dollar_amount) — Trading Symbol
- Cboe BZX Exchange, Inc. (company) — Exchange
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing is a quarterly report for the period ended June 30, 2025, providing an update on the financial performance and operations of the Franklin Ethereum Trust.
Who sponsors the Franklin Ethereum Trust?
The Franklin Ethereum Trust is sponsored by Franklin Holdings, LLC.
On which exchange are the Franklin Ethereum Trust shares traded?
The Franklin Ethereum Trust shares, with the trading symbol EZET, are registered and traded 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.
What is the SEC file number for Franklin Ethereum Trust?
The SEC file number for Franklin Ethereum Trust is 001-042169.
Filing Stats: 4,651 words · 19 min read · ~16 pages · Grade level 14.2 · Accepted 2025-08-13 17:47:36
Key Financial Figures
- $1.235 billion — rust has total annual gross revenues of $1.235 billion or more; the last day of the fiscal y
- $1 billion — ous three-year period, issued more than $1 billion in non-convertible debt; or the date
- $700 million — (i.e., an issuer that (1) has more than $700 million in outstanding equity held by non-affil
Filing Documents
- ef20051641_10q.htm (10-Q) — 449KB
- ef20051641_ex31-1.htm (EX-31.1) — 10KB
- ef20051641_ex31-2.htm (EX-31.2) — 9KB
- ef20051641_ex32-1.htm (EX-32.1) — 4KB
- ef20051641_ex32-2.htm (EX-32.2) — 5KB
- image002.jpg (GRAPHIC) — 39KB
- 0001140361-25-030870.txt ( ) — 2815KB
- ezet-20250630.xsd (EX-101.SCH) — 23KB
- ezet-20250630_def.xml (EX-101.DEF) — 128KB
- ezet-20250630_lab.xml (EX-101.LAB) — 157KB
- ezet-20250630_pre.xml (EX-101.PRE) — 147KB
- ezet-20250630_cal.xml (EX-101.CAL) — 14KB
- ef20051641_10q_htm.xml (XML) — 312KB
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 4
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 27
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 30
OTHER INFORMATION
Part II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 31
Risk Factors
Item 1A. Risk Factors 31
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 31
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 31
Other Information
Item 5. Other Information 31
Exhibits
Item 6. Exhibits 31
Signatures
Signatures 33 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 Statements of Assets and Liabilities at June 30, 2025 and March 31, 2025 for Franklin Ethereum Trust 5 Combined Schedules of Investments at June 30, 2025 and March 31, 2025 for Franklin Ethereum Trust 6 Combined Statement of Operations for the three months ended June 30, 2025 for Franklin Ethereum Trust 7 Combined Statement of Cash Flows for the three months ended June 30, 2025 for Franklin Ethereum Trust 8 Combined Statement of Changes in Net Assets for the three months ended June 30, 2025 for Franklin Ethereum Trust 9 Notes to the Combined Financial Statements for Franklin Ethereum Trust 10 16 Schedules of Investments at June 30, 2025 and March 31, 2025 for Franklin Ethereum ETF 17 18 19 20
Notes to Financial Statements for Franklin Ethereum ETF
Notes to Financial Statements for Franklin Ethereum ETF 21 4 Table of Contents FRANKLIN ETHEREUM TRUST Combined Statements of Assets and Liabilities (Unaudited) June 30, 2025 March 31, 2025 Assets Investment in ether, at fair value (a) $ 35,136,863 $ 21,614,322 Total assets 35,136,863 21,614,322 Liabilities Sponsor's fee payable 13,390 8,924 Total liabilities 13,390 8,924 Commitments and contingencies (Note 7) Net assets $ 35,123,473 $ 21,605,398 Shares issued and outstanding (b) 1,850,000 1,550,000 Net asset value per Share $ 18.99 $ 13.94 (a) Cost of investment in ether: $ 42,429,783 at June 30, 2025 and $ 37,851,948 at March 31, 2025. (b) No par value, unlimited amount authorized. See accompanying notes to the unaudited combined financial statements. 5 Table of Contents FRANKLIN ETHEREUM TRUST Combined Schedules of Investments (Unaudited) June 30, 2025 Quantity of ether Cost Fair Value Fair Value as a % of Net Assets Investment in ether 14,053.0027 $ 42,429,783 $ 35,136,863 100.03 % Total investments 14,053.0027 $ 42,429,783 $ 35,136,863 100.03 % Less liabilities ( 13,390 ) ( 0.03 )% Net assets $ 35,123,473 100.00 % March 31, 2025 Quantity of ether Cost Fair Value Fair Value as a % of Net Assets Investment in ether 11,780.2062 $ 37,851,948 $ 21,614,322 100.04 % Total investments 11,780.2062 $ 37,851,948 $ 21,614,322 100.04 % Less liabilities ( 8,924 ) ( 0.04 )% Net assets $ 21,605,398 100.00 % See accompanying notes to the unaudited combined financial statements. 6 Table of Contents FRANKLIN ETHEREUM TRUST Combined Statement of Operations (Unaudited) For the Three Months Ended June 30, 2025* Expenses: Sponsor's fee $ 13,393 Less waiver – Total expenses 13,393 Net investment loss ( 13,393 ) Net realized and change in unrealized gain (loss) on investment in