iShares Ethereum Trust ETF Financials

ETHA

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows iShares Ethereum Trust ETF (ETHA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Earnings Quality Low Quality

3.84x

For every $1 of reported earnings, iShares Ethereum Trust ETF generates $3.84 in operating cash flow (-$8.9B OCF vs -$2.3B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$2.3B

YoY-6827.4%

iShares Ethereum Trust ETF reported -$2.3B in net income in fiscal year 2025. This represents a decrease of 6827.4% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

441M

iShares Ethereum Trust ETF had 441M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

ETHA Income Statement

Metric	FY25	FY24
Revenue	N/A	N/A
Cost of Revenue	N/A	N/A
Gross Profit	N/A	N/A
R&D Expenses	N/A	N/A
SG&A Expenses	N/A	N/A
Operating Income	-$18.4M-1971.0%	-$889K
Interest Expense	N/A	N/A
Income Tax	N/A	N/A
Net Income	-$2.3B-6827.4%	$34.4M
EPS (Diluted)	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	-$7.7M-582.1%	-$1.1M+9.3%	-$1.2M	N/A	-$172K
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	$3.6B+368.3%	$759.5M+139.3%	-$1.9B	N/A	-$138.7M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

ETHA Cash Flow Statement

Metric	FY25	FY24
Operating Cash Flow	-$8.9B	N/A
Capital Expenditures	N/A	N/A
Free Cash Flow	N/A	N/A
Investing Cash Flow	N/A	N/A
Financing Cash Flow	$8.9B	N/A
Dividends Paid	N/A	N/A
Share Buybacks	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$890.0M+111.4%	-$7.8B-440.0%	-$1.4B-163.2%	-$548.6M+76.9%	-$2.4B-105.6%	-$1.2B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$890.0M-111.4%	$7.8B+440.0%	$1.4B+163.2%	$548.6M-76.9%	$2.4B+105.6%	$1.2B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is iShares Ethereum Trust ETF profitable?

No, iShares Ethereum Trust ETF (ETHA) reported a net income of -$2.3B in fiscal year 2025.

What is iShares Ethereum Trust ETF's operating cash flow?

iShares Ethereum Trust ETF (ETHA) generated -$8.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

How many shares does iShares Ethereum Trust ETF have outstanding?

iShares Ethereum Trust ETF (ETHA) had 441M shares outstanding as of fiscal year 2025.

Are iShares Ethereum Trust ETF's earnings high quality?

iShares Ethereum Trust ETF (ETHA) has an earnings quality ratio of 3.84x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.