Is CF Benchmarks affiliated with 21Shares Ethereum ETF (TETH) or its sponsor?

CF Benchmarks is described as unaffiliated with the sponsor, 21Shares US LLC. The company currently calculates and administers the CME CF Ether-Dollar Reference Rate, which is used by the ETF for daily share valuation and net asset value calculations.

Is FTSE affiliated with the sponsor of 21Shares Ethereum ETF (TETH)?

FTSE International Limited is also described as unaffiliated with the sponsor. FTSE is incorporated in England, has offices in London, and is experienced in calculating and administering digital asset indices that will be licensed for use by the ETF.

21Shares Ethereum ETF to change pricing benchmark

21Shares Ethereum ETF is changing the benchmark it uses to value its shares.

Filing Impact

(Moderate)

Filing Sentiment

(Negative)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

8-K

Rhea-AI Filing Summary

21Shares Ethereum ETF is changing the benchmark it uses to value its shares. The sponsor, 21Shares US LLC, has given CF Benchmarks notice that their licensing agreement for the CME CF Ether-Dollar Reference Rate – New York Variant will end effective August 31, 2026.

This benchmark is currently used each day to value the ETF’s shares and calculate its net asset value. The sponsor plans to enter a new licensing agreement with FTSE International Limited on or about August 24, 2026, allowing the ETF to use FTSE digital asset index data under a one-year term that automatically renews.

8-K Event Classification

Item 1.02 — Termination of a Material Definitive Agreement

1 item

Item 1.02 Termination of a Material Definitive Agreement Business

A significant contract was terminated, which may affect business operations or revenue.

Key Figures

CF Benchmarks license termination date: August 31, 2026 Planned FTSE license date: August 24, 2026 Initial term length: One-year initial term +2 more

5 metrics

CF Benchmarks license termination date August 31, 2026 Effective date of Pricing Benchmark Licensing Agreement termination

Planned FTSE license date August 24, 2026 Intended date to enter new licensing agreement with FTSE

Initial term length One-year initial term Applies to both CF Benchmarks and FTSE licensing agreements

License scope Perpetual, worldwide use Non-exclusive license to access and use benchmark or index data

Trust name 21Shares Ethereum ETF ETF whose shares are valued using the benchmark/index

Key Terms

Material Definitive Agreement, Pricing Benchmark, net asset value, digital asset indices, +1 more

5 terms

Material Definitive Agreement regulatory

"Item 1.02 Termination of a Material Definitive Agreement."

A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.

Pricing Benchmark financial

"relating to the use of the CME CF Ether-Dollar Reference Rate — New York Variant (the “Pricing Benchmark”)"

net asset value financial

"and is used to value the Trust’s shares on a daily basis and to calculate the Trust’s net asset value."

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

digital asset indices financial

"FTSE is experienced in calculating and administering digital asset indices."

non-exclusive, non-transferable, non-sub-licensable, perpetual, worldwide license regulatory

"a non-exclusive, non-transferable, non-sub-licensable, perpetual, worldwide license to access, view and use"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What benchmark change is 21Shares Ethereum ETF (TETH) making?

21Shares Ethereum ETF is terminating its licensing agreement with CF Benchmarks for the CME CF Ether-Dollar Reference Rate – New York Variant, effective August 31, 2026. The sponsor plans to shift to FTSE digital asset index data under a new licensing agreement.

When does the CF Benchmarks agreement for 21Shares Ethereum ETF (TETH) end?

The licensing agreement with CF Benchmarks is scheduled to terminate effective August 31, 2026. Until then, the CME CF Ether-Dollar Reference Rate – New York Variant continues to be used to value the ETF’s shares and calculate its daily net asset value.

How will FTSE be involved with 21Shares Ethereum ETF (TETH)?

The sponsor intends to enter a licensing agreement with FTSE International Limited on or about August 24, 2026. FTSE will provide index data so the sponsor, the trust, and affiliates can develop, calculate, and support the ETF using FTSE digital asset indices.

Does the new FTSE license for 21Shares Ethereum ETF (TETH) automatically renew?

The planned FTSE license is expected to have a one-year initial term and then automatically renew for successive one-year periods, unless terminated under its terms. This structure mirrors the auto-renewal feature of the current CF Benchmarks licensing agreement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/07/2026 - 04:30 PM EDT

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): June 30, 2026

21SHARES ETHEREUM ETF

(Exact name of registrant as specified in its charter)

Delaware		001-42151		93-6828290
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

158 W. 27^th Street
New York, New York		10001
(Address of principal executive offices)		(zip code)

Registrant’s telephone number, including area code: (646) 370-6016

(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 Exchange Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Shares of Beneficial Interest of 21Shares Ethereum ETF		TETH		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 1.02 Termination of a Material Definitive Agreement.

Benchmark Licensing Agreements

On June 30, 2026, 21Shares US LLC (the “Sponsor”) provided notice to CF Benchmarks Ltd. (“CF Benchmarks”) of the termination, effective August 31, 2026, of the licensing agreement (the “Pricing Benchmark Licensing Agreement”) between the Sponsor and CF Benchmarks relating to the use of the CME CF Ether-Dollar Reference Rate — New York Variant (the “Pricing Benchmark”) by the Sponsor, 21Shares Ethereum ETF (the “Trust”), and their affiliates. Pursuant to the Pricing Benchmark Licensing Agreement, CF Benchmarks provides each of the Sponsor, the Trust, and their affiliates a non-exclusive, non-transferable, non-sub-licensable, perpetual, worldwide license to access, view and use the Pricing Benchmark to develop, create, calculate, settle, maintain or support and market the Trust, with the Trust using the Pricing Benchmark pursuant to a sub-licensing arrangement with the Sponsor. The Pricing Benchmark Licensing Agreement has a one-year initial term and automatically renews for successive one-year periods unless terminated pursuant to its terms. The Pricing Benchmark is calculated and administered by CF Benchmarks and is used to value the Trust’s shares on a daily basis and to calculate the Trust’s net asset value. CF Benchmarks is unaffiliated with the Sponsor. The Sponsor has elected to terminate the Pricing Benchmark Licensing Agreement pursuant to its terms in connection with its broader transition to a new benchmark provider, as further described below.

The Sponsor intends to enter into a licensing agreement with FTSE International Limited (“FTSE”) on or about August 24, 2026 whereby FTSE will provide each of the Sponsor, the Trust, and their affiliates a non-exclusive, non-transferable, non-sub-licensable, perpetual, worldwide license to access, view and use FTSE index data to develop, create, calculate, settle, maintain or support and market the Trust. Such license is expected to have a one-year initial term and will automatically be renewed for successive one-year periods, unless terminated pursuant to its terms.

FTSE is a company incorporated and registered in England, and its principal offices are located at 10 Paternoster Square, London, EC4M 7LS, United Kingdom. FTSE is experienced in calculating and administering digital asset indices. FTSE is unaffiliated with the Sponsor.

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.

Dated: July 7, 2026	21SHARES ETHEREUM ETF

	21Shares US LLC, as Sponsor of 21Shares Ethereum ETF

	By:	/s/ Duncan Moir
	Name:	Duncan Moir
	Title:	President

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

3 documents