Five open positions held 399,088.74 aUSDT of debt, while the Tether cutoff hour and any later platform route remain unpublished.
Grayscale funds ETHE, GSOL, and GAVA must sell earned rewards at least quarterly, creating recurring cash payouts.
The six-month loss was largely non-cash, while the Ethereum treasury says fully converting its portfolio to staking could take about 90 days.
If the court grants the proposed fee and expenses stay within the stated estimate, at least $2.985 million remains before other deductions.
The Aug. 7 filing ties 479 pledged Bitcoin to the higher balance, making the dated, principal-only threshold calculable.
The June 30 loss was unrealized, but a $7.8 million credit-loss allowance and 109% share-count increase sharpen the capital-allocation test.
The company expects further sales as needed, with no committed liquidity source independent of its digital assets.
The full confirmed balance was swept through transactions paying a historically Binance-attributed wallet, leaving customer deposit and internal staging unresolved.
Its Aug. 7 filing keeps more token sales, equity or traditional financing on the table until operations can support themselves.
Market losses and net redemptions cut the fund to $532.8 million while Bitcoin’s portfolio share rose to 77.81%.
New positions stop Aug. 26, while contracts left open face a wind-down that ends in forced closure Sept. 23.
The 2025 statements recorded €5,315 in other income and €373,857 in cash before the April acquisition.
