COtwo Advisors Physical European Carbon Allowance Trust Reports Financial Performance for Period Ending November 30, 2025

COtwo Advisors Physical European Carbon Allowance Trust, established on January 12, 2023, has reported its financial performance for the period ending November 30, 2025. The Trust, which focuses on investing in European Union Carbon Emission Allowances (EUAs), issued a total of 150,000 Shares in exchange for 30,000 EUAs and redeemed 50,000 Shares for 10,000 EUAs during this period. As of November 30, 2025, the Trust's net assets totaled approximately $1.92 million, with a net asset value (NAV) per Share of $19.20, reflecting an increase from $16.95 on June 17, 2025.

The Trust's financial results indicate a significant increase in NAV per Share, attributed to a combination of factors including a $7,710 management fee, a net realized gain of $28,146 from EUA sales, and a $233,158 net change in unrealized appreciation on investments in EUAs. The Trust's total expenses were limited to the management fee, as it did not incur any other operational costs during the reporting period. The average daily total net assets were reported at $2.14 million, with a total expense ratio of 0.79%.

In terms of operational developments, the Trust has maintained a focus on its investment strategy, which is to reflect the performance of EUA prices while minimizing operational expenses. The Trust's assets are held exclusively in EUAs and cash, with no other investments. As of the end of November 2025, the Trust owned 19,700 EUAs, valued at approximately $1.9 million based on market prices. The Trust's cash holdings amounted to $20,497, which is utilized for operational expenses and management fees.

Looking ahead, the Trust anticipates that the price of EUAs will continue to be influenced by various market factors, including weather conditions, economic activity in the EU, and geopolitical events. The Trust's management has indicated that it expects ongoing volatility in EUA prices, particularly in light of potential regulatory changes within the EU Emissions Trading System (EU ETS). The Trust's strategy remains focused on maintaining liquidity and managing its EUA holdings effectively to meet its investment objectives.

Overall, COtwo Advisors Physical European Carbon Allowance Trust has demonstrated a solid start since its inception, with a clear focus on its investment strategy and operational efficiency. The Trust's performance metrics and market positioning suggest a commitment to navigating the complexities of the carbon allowance market while providing value to its shareholders.