VanEck Ethereum ETF Financials
This page shows VanEck Ethereum ETF (ETHV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of VanEck Ethereum ETF's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
VanEck Ethereum ETF carries a low D/E ratio of 0.08, meaning only $0.08 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
VanEck Ethereum ETF generates a -18.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
Key Financial Metrics
Earnings & Revenue
VanEck Ethereum ETF reported -$33.8M in net income in fiscal year 2025.
Cash & Balance Sheet
VanEck Ethereum ETF held $0 in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
VanEck Ethereum ETF's ROE was -18.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
ETHV Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q1'25 | Q4'24 | Q2'24 |
|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A |
| 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 | -$44.8M | N/A | N/A | -$69.5M | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A |
ETHV Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q1'25 | Q4'24 | Q2'24 |
|---|---|---|---|---|---|---|
| Total Assets | $106.8M-37.8% | $171.7M-35.4% | $266.0M+214.2% | $84.7M-42.2% | $146.4M+1330.7% | $10.2M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $0 | $0 | $0 | N/A | $0 | N/A |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | -$69.9M-594.7% | $14.1M+32152.7% | $44K+100.1% | -$60.9M | $0-100.0% | $10.2M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $176.7M-3.3% | $182.7M-31.3% | $265.9M+82.7% | $145.6M+5.6% | $137.8M | $0 |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A |
ETHV Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q1'25 | Q4'24 | Q2'24 |
|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -25.3% | N/A | N/A | -47.8% | N/A | N/A |
| Return on Assets | -41.9% | N/A | N/A | -82.1% | N/A | N/A |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | -0.40-0.5 | 0.08+0.1 | 0.00+0.4 | -0.42-0.4 | 0.00 | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
Is VanEck Ethereum ETF profitable?
No, VanEck Ethereum ETF (ETHV) reported a net income of -$33.8M in fiscal year 2025.
What is VanEck Ethereum ETF's return on equity (ROE)?
VanEck Ethereum ETF (ETHV) has a return on equity of -18.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What are VanEck Ethereum ETF's total assets?
VanEck Ethereum ETF (ETHV) had $171.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What is VanEck Ethereum ETF's debt-to-equity ratio?
VanEck Ethereum ETF (ETHV) had a debt-to-equity ratio of 0.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is VanEck Ethereum ETF's return on assets (ROA)?
VanEck Ethereum ETF (ETHV) had a return on assets of -19.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How financially healthy is VanEck Ethereum ETF?
VanEck Ethereum ETF (ETHV) scores 17 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.