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21Shares Ethereum ETF Financials

TETH
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows 21Shares Ethereum ETF (TETH) 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).

Rhea AI TETH FY2025

An all-equity balance sheet makes TETH’s modest profitability read as asset returns, not leverage-enhanced earnings.

With $0 liabilities, 4.4% ROA and 4.4% ROE are identical, which implies the business is financed entirely by shareholder capital; the $1.4M profit therefore reflects what its $31.3M asset base can earn without help from debt.

The balance sheet is conservative: no borrowing means little solvency pressure, but it also means returns come from the underlying business rather than financial leverage. Retained earnings of $5.8M suggest a meaningful part of equity has been built internally rather than through creditors.

Some figures from recent filings were inconsistent and were omitted from this summary.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score pending refresh

We are recalculating 21Shares Ethereum ETF's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Key Financial Metrics

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Earnings & Revenue

Revenue
N/A
EBITDA
N/A
Net Income
$1.4M

21Shares Ethereum ETF reported $1.4M in net income in fiscal year 2025.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
N/A
Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
4.4%

21Shares Ethereum ETF's ROE was 4.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A

TETH Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue N/A N/A 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 N/A N/A
Gross Profit N/A N/A 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 N/A N/A
SG&A Expenses N/A N/A 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 N/A N/A
Interest Expense N/A N/A 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 N/A N/A
Net Income -$8.0M N/A $17.0M+162.6% $6.5M+165.5% -$9.9M-229.6% $7.6M+336.0% -$3.2M-206609.2% $2K
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A N/A

TETH Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $20.8M-33.5% $31.3M-31.8% $45.9M+99.6% $23.0M+173.6% $8.4M-50.2% $16.9M+34.1% $12.6M+3033.7% $402K
Current Assets N/A N/A N/A N/A N/A N/A N/A N/A
Cash & Equivalents N/A N/A N/A N/A N/A N/A N/A $59K
Inventory N/A N/A 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 N/A N/A
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $2.6M $0-100.0% $2K+1.6% $2K-62.7% $4K $0 $0-100.0% $59K
Current Liabilities N/A N/A 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 N/A N/A
Total Equity $18.2M-41.9% $31.3M-31.8% $45.9M+99.6% $23.0M+173.7% $8.4M-50.2% $16.9M+34.1% $12.6M+3576.0% $342K
Retained Earnings -$2.3M-139.5% $5.8M-67.9% $17.9M+1725.3% $983K+118.0% -$5.5M-224.8% $4.4M+236.1% -$3.2M-206309.2% -$2K

TETH Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin N/A N/A 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 N/A N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A N/A
Return on Equity -43.9% N/A 36.9%+8.9pp 28.1%+145.4pp -117.3%-162.5pp 45.1%+70.7pp -25.6%-26.1pp 0.5%
Return on Assets -38.4% N/A 36.9%+8.9pp 28.1%+145.3pp -117.3%-162.4pp 45.1%+70.7pp -25.6%-26.0pp 0.4%
Current Ratio N/A N/A N/A N/A N/A N/A N/A N/A
Debt-to-Equity 0.14+0.1 0.000.0 0.000.0 0.000.0 0.000.0 0.000.0 0.00-0.2 0.17
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Frequently Asked Questions

Yes, 21Shares Ethereum ETF (TETH) reported a net income of $1.4M in fiscal year 2025.

21Shares Ethereum ETF (TETH) has a return on equity of 4.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

21Shares Ethereum ETF (TETH) had $31.3M in total assets as of fiscal year 2025, including both current and long-term assets.

21Shares Ethereum ETF (TETH) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

21Shares Ethereum ETF (TETH) had a return on assets of 4.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

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