iShares Ethereum Trust ETF

The iShares Ethereum Trust ETF was formed as a Delaware statutory trust on November 8, 2023. The Trust's purpose is to own ether, which is purchased in exchange for shares issued by the Trust. Each share represents a fractional undivided beneficial interest in the Trust's net assets. The Trust's assets primarily consist of ether held by a custodian. iShares Delaware Trust Sponsor LLC acts as the sponsor, BlackRock Fund Advisors as the trustee, and Wilmington Trust, National Association as the Delaware trustee, under a Trust Agreement dated July 8, 2025. The Sponsor and the Trustee are consolidated subsidiaries of BlackRock, Inc. Coinbase Custody Trust Company, LLC serves as the primary custodian for the Trust's ether holdings, with Anchorage Digital Bank N.A. as an additional available custodian. Coinbase, Inc., an affiliate of the Ether Custodian, acts as the Trust's prime execution agent. The Bank of New York Mellon serves as the custodian for the Trust's cash holdings and as the Trust administrator. The Trust's net asset value increased from $3,571,262,167 at December 31, 2024, to $10,300,756,520 at December 31, 2025. Outstanding shares increased from 141,480,000 shares at December 31, 2024, to 458,720,000 shares at December 31, 2025.