Franklin Ethereum Trust registered an indeterminate amount of Franklin Ethereum ETF Shares for a continuous offering. The Fund issues and redeems Shares only in 50,000-share Creation Units or multiples thereof through Authorized Participants; individual Shares trade on the Cboe BZX Exchange under EZET at market prices that may differ from NAV. The Fund holds primarily ether and seeks generally to reflect ether’s price before expenses.
As of September 30, 2026, the Fund’s NAV was $59.74 million and NAV per Share was $20.25. The Sponsor’s Fee accrues daily at an annualized 0.19% of NAV; the Fund sells ether as needed to pay this fee and expenses the Sponsor does not assume. Risk factors include ether-price volatility, custody and cybersecurity exposure, and possible differences between market prices and NAV. Individual Shares are not redeemable; only Authorized Participants may create or redeem Creation Units. The Fund is passive and does not use leverage or derivatives.
Franklin Ethereum Trust’s Franklin Ethereum ETF offers an indeterminate amount of shares continuously; this post-effective amendment registers no additional securities. It updates the registration statement to reflect the Fund’s ability to create and redeem Creation Units in-kind and to update exhibits and other information.
The Fund holds primarily ether and seeks to reflect ether’s price before expenses; it is passive and not leveraged. Creation Units consist of 50,000 shares or multiples and may be created or redeemed by Authorized Participants for ether and/or cash. Individual shares trade on Cboe BZX Exchange under EZET and are not redeemable by the Fund. The Sponsor’s Fee is 0.19% annualized, and the Fund sells ether as needed to pay it. As of September 30, 2026, NAV was $59.74 million and NAV per share was $20.25; the CF Benchmarks Index was $2,673.48 per ether. Disclosed risks include ether price volatility, possible share-price divergence from NAV, and custody, cybersecurity, liquidity, regulatory and Ethereum network risks.
Franklin Ethereum Trust’s existing prospectus registers an indeterminate amount of Franklin Ethereum ETF shares for continuous offering. This post-effective amendment converts the registration from Form S-1 to Form S-3, reflects in-kind creation and redemption transactions, and registers no additional securities. Shares are offered at prices that vary with ether and the trading price on Cboe BZX Exchange. Only Authorized Participants may create or redeem blocks of 50,000 shares in exchange for ether and/or cash; individual shares trade on the exchange under EZET.
The Fund seeks to reflect ether’s price before expenses and holds primarily ether. Its annualized Sponsor’s Fee is 0.19% of NAV; the Fund sells ether as needed to pay that fee and expenses not assumed by the Sponsor. NAV was $59.74 million, or $20.25 per share, as of September 30, 2026.
The prospectus identifies ether-price volatility and custody arrangements as risks. Ether temporarily held in the Prime Broker’s Trading Balance represents a pro rata customer entitlement, and no policy limits the amount held there; the prospectus says this could increase the risk of loss. The Fund is passive and does not use leverage or derivatives to meet its objective.
Franklin Ethereum Trust (EZET), whose sole series is the Franklin Ethereum ETF, reported results for the quarter ended June 30, 2026 that mainly reflect ether price movements. The Fund held 20,464.3242 ether worth $32.6 million at fair value versus cost of $69.2 million, resulting in net assets of $32.6 million and 2.7 million shares outstanding.
Net asset value per share fell from $15.94 to $12.07, a total return at NAV of -24.28%, closely tracking ether’s decline from $2,101.84 to $1,593.01. The Fund recorded a net decrease in net assets from operations of $10.6 million, driven by $10.6 million in net realized and unrealized losses on ether and a $19,638 Sponsor’s fee. The unitary expense ratio remained low at an annualized 0.19%. Shares saw net creations of 50,000, adding about $1.0 million in capital.
Franklin Ethereum ETF, a series of Franklin Ethereum Trust trading under ticker EZET, files its annual report describing how the fund provides ether-backed exposure without direct crypto handling by investors.
The ETF holds ether in institutional custody at Coinbase, tracks a CF Benchmarks ether index for daily NAV, and issues/redeems only in 50,000-share Creation Units via authorized participants for cash. It charges a 0.19% annual sponsor fee, paid by selling small amounts of ether, so each share’s ether backing gradually declines over time. The report also emphasizes emerging growth company status and extensive risk factors tied to ether price volatility, blockchain technology, service-provider dependencies, and evolving regulation.
Franklin Ethereum ETF, sponsored by Franklin Holdings, LLC, reported leadership changes in its finance functions. Effective May 8, 2026, Christoper Berarducci was appointed Chief Accounting Officer and Treasurer of the Sponsor, and Christopher Kings was appointed Chief Financial Officer of the Sponsor.
On the same date, Vivek Pai resigned as Chief Accounting Officer and Treasurer of the Sponsor, and Matthew Hinkle resigned as Vice President and Chief Financial Officer. Their decisions to resign were specifically stated as not resulting from any dispute or disagreement regarding the Fund’s operations, policies, or practices.
Franklin Ethereum Trust (EZET) reported strong Q2 FY2026 results tied to ether price gains. Net assets were $90,925,327 as of September 30, 2025, with NAV per Share $31.35 and 2,900,000 shares outstanding. The Fund held 22,020.1883 ether valued at $90,961,875 on the same date.
Performance was driven by market appreciation: the quarter showed a total return at NAV of 65.09%, reflecting $26,892,862 in net realized and unrealized gains and a $26,856,312 increase in net assets from operations. For the six months ended September 30, 2025, total return at NAV was 124.89%.
Primary flows came through the ETF creation/redemption mechanism. In the quarter, the Fund recorded $51,841,850 in creations and $22,896,308 in redemptions; for six months, creations were $59,957,569 and redemptions $24,680,879. The only recurring expense is the 0.19% annual Sponsor’s fee; $36,550 was accrued in the quarter, paid by selling small amounts of ether. The Trust is a grantor trust and an emerging growth company. As of November 4, 2025, the registrant reported 2,700,000 shares outstanding.