[8-K] VanEck Ethereum ETF Reports Material Event

Rhea-AI Filing Summary

VanEck Ethereum ETF reported that, effective November 20, 2025, it amended and restated its Form of Authorized Participant Agreement. The update allows an in-kind creation and redemption process as an alternative to the Trust's existing cash creation and redemption process.

This change affects how authorized participants can create and redeem ETF shares, potentially using Ethereum or other specified assets instead of only cash. The updated Form of Authorized Participant Agreement is filed as Exhibit 10.1 and is incorporated by reference.

Insights

ETF Structure Analyst

Material agreement update introduces in-kind creation/redemption option alongside existing cash process for this spot Ethereum ETF.

The filing reports that, effective November 20, 2025, the VanEck Ethereum ETF entered into an amended and restated Form of Authorized Participant Agreement. The update allows an in-kind creation and redemption process as an alternative to the Trust’s existing cash creation and redemption process. The amended form of agreement is filed as Exhibit 10.1 and is incorporated by reference, which makes it a binding, material contract for authorized participants.

In the ETF structure, an Authorized Participant Agreement governs how large institutional trading firms create and redeem ETF shares. By formally adding an in-kind process option, the Trust now has two defined mechanisms for primary market share flows: cash and in-kind. The filing does not describe operational details, but it confirms that these updated terms are now effective and contractually documented.

The key concrete items to watch are the use of the new in-kind mechanism under the amended agreement and any future disclosures about its operational impact. Because this change became effective on November 20, 2025, subsequent periodic reports covering periods after that date may provide more information on how the Trust applies the dual-process structure and whether any additional related agreements or amendments appear.

8-K Event Classification

2 items: 1.01, 9.01

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): November 20, 2025

VANECK ETHEREUM ETF

(Exact name of registrant as specified in its charter)

Delaware			001-42141			86-6752793
(State or other jurisdiction of incorporation)			(Commission File Number)			(I.R.S. Employer Identification No.)
666 Third Avenue, 9th Floor New York, New York						10017
(Address of principal executive offices)						(Zip Code)

Registrant's telephone number, including area code: (212) 293-2000

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Shares			ETHV			Cboe BZX Exchange, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Item 1.01 Entry Into A Material Definitive Agreement.

Effective November 20, 2025, VanEck Ethereum ETF (the "Trust") amended and restated the Form of Authorized Participant Agreement to reflect certain updates to allow in-kind creation and redemption process as an alternative to the Trust's cash creation and redemption process.

The foregoing description of the Form of Authorized Participant Agreement contained in this Item 1.01 does not purport to be complete and is qualified in its entirety by reference to the Form of Authorized Participant Agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.						Description
10.1						Form of Authorized Participant
104						Cover Page Interactive Data File (embedded with the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 20, 2025

VanEck Ethereum ETF *
By:			VanEck Digital Assets, LLC, as Sponsor of the Trust
By:			/s/ Matthew A. Babinsky
Name:			Matthew A. Babinsky
Title:			Vice President

* The registrant is a trust. The individual specified above is signing in his capacity as an officer of VanEck Digital Assets, LLC, the Sponsor of the registrant.