The fund is an ETF that seeks to achieve its investment objective by investing its assets principally in cash-settled contracts referencing Ether (a digital asset) that trade only on an exchange registered with the Commodity Futures Trading Commission, which currently is the CME, and cash, cash-like instruments or high-quality securities that serve as collateral to the fund"s investments in Ether Futures Contracts. It also may invest in reverse repurchase agreement transactions and shares of other investment companies registered under the Investment Company Act of 1940. The fund is non-diversified.