Franklin Crypto Trust has reported its financial performance for the period ending March 31, 2025, following its commencement of operations on February 20, 2025. The Trust's net assets totaled $3,092,007, with a net asset value (NAV) per share of $20.61, down from $25.13 at the beginning of the period. This decline of 17.99% in NAV per share is attributed to a decrease in the prices of its underlying digital assets, specifically a 15.55% drop in bitcoin and a 33.33% drop in ether during the same timeframe.
The Trust's investments in digital assets included 33.0623 bitcoins valued at $2,742,715 and 190.3706 ethers valued at $349,292 as of March 31, 2025. The total cost of these investments was $3,463,250, indicating a significant unrealized depreciation of $404,172. The Trust recorded a net realized loss of $937 on its digital asset investments, contributing to a total net loss of $405,109 for the period.
In terms of operational developments, the Trust issued 50,000 shares during the reporting period, generating proceeds of $983,738. No shares were redeemed. The Trust's only recurring expense is the Sponsor's fee, which is accrued at an annualized rate of 0.19% of the NAV. For the period, the Sponsor waived the fee, resulting in no net expenses for the Fund.
Looking ahead, the Trust remains classified as an emerging growth company, allowing it to take advantage of certain reporting exemptions. The management anticipates that the performance of the Fund will closely track the CF Institutional Digital Asset Index, which includes bitcoin and ether. However, the Trust acknowledges the inherent risks associated with the volatility of digital asset prices, which could significantly impact the value of the shares in the future.
About Franklin Crypto Trust
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