Grayscale Digital Large Cap Fund (GDLC) 10-Q3 May 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Mar. 31, 2024	Apr. 30, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Document Period End Date	Mar. 31, 2024
Document Quarterly Report	true
Document Transition Report	false
Current Fiscal Year End Date	--06-30
Entity Registrant Name	Grayscale Digital Large Cap Fund LLC
Entity Central Index Key	0001729997
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Common Stock, Shares Outstanding		15,867,400
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Trading Symbol	GDLC
Entity Interactive Data Current	Yes
Entity File Number	000-56284
Entity Incorporation, State or Country Code	E9
Entity Tax Identification Number	98-1406784
Entity Address, Address Line One	290 Harbor Drive, 4th Floor
City Area Code	212
Local Phone Number	668-1427
Entity Address, City or Town	Stamford
Entity Address, Postal Zip Code	06902
Entity Address, State or Province	CT
Title of 12(g) Security	Grayscale Digital Large Cap Fund LLC Shares

STATEMENTS OF ASSETS AND LIABIL

STATEMENTS OF ASSETS AND LIABILITIES (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Assets:
Investments in digital assets, at fair value (cost $131,520 and $124,888 as of March 31, 2024 and June 30, 2023, respectively)	$ 606,262	$ 272,632
Total assets	606,262	272,632
Liabilities:
Manager's Fee payable, related party	0	0
Total liabilities	0	0
Net assets	606,262	272,632
Net Assets consists of:
Paid-in-capital	114,568	114,568
Accumulated net investment loss	(31,206)	(24,760)
Accumulated net realized gain on investments in digital assets	48,157	35,080
Accumulated net change in unrealized appreciation on investments in digital assets	474,743	147,744
Net Assets	$ 606,262	$ 272,632
Shares issued and outstanding, no par value (unlimited Shares authorized)	15,867,400	15,867,400
Principal market net asset value per Share	$ 38.21	$ 17.18

STATEMENTS OF ASSETS AND LIAB_2

STATEMENTS OF ASSETS AND LIABILITIES (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Cost of investment in digital assets, at fair value	$ 131,519	$ 124,888

SCHEDULES OF INVESTMENTS (UNAUD

SCHEDULES OF INVESTMENTS (UNAUDITED) $ in Thousands	Mar. 31, 2024 USD ($) Avalanche Solana Cardano Ethereum Ripple Bitcoin	Jun. 30, 2023 USD ($) Ethereum Polygon Solana Bitcoin Cardano
Schedule Of Investments [Line Items]
Cost	$ 131,519	$ 124,888
Fair Value	$ 606,262	$ 272,632
% of Net Assets	100%	100%
Investment in Bitcoin
Schedule Of Investments [Line Items]
Cost	$ 70,172	$ 72,585
Fair Value	$ 423,664	$ 189,185
% of Net Assets	69.88%	69.39%
Quantity of Bitcoin \| Bitcoin	5,964.88248641	6,230.97866186
Investment in Ether
Schedule Of Investments [Line Items]
Cost	$ 17,777	$ 19,154
Fair Value	$ 133,179	$ 75,964
% of Net Assets	21.97%	27.86%
Quantity of Ethereum \| Ethereum	36,608.4309782	39,445.13266916
Investment in XRP
Schedule Of Investments [Line Items]
Cost	$ 9,598
Fair Value	$ 10,336
% of Net Assets	1.70%
Quantity of Ripple \| Ripple	16,439,744.034764
Investment in ADA
Schedule Of Investments [Line Items]
Cost	$ 14,562	$ 15,246
Fair Value	$ 6,972	$ 3,195
% of Net Assets	1.15%	1.17%
Quantity of Cardano \| Cardano	10,769,799.360314	11,194,902.551275
Investment in SOL
Schedule Of Investments [Line Items]
Cost	$ 15,320	$ 15,416
Fair Value	$ 26,104	$ 2,366
% of Net Assets	4.31%	0.87%
Quantity of Solana \| Solana	130,406.54140261	123,915.89529091
investment in MATIC
Schedule Of Investments [Line Items]
Cost		$ 2,487
Fair Value	$ 0	$ 1,922
% of Net Assets		0.71%
Quantity of Polygon \| Polygon		2,926,029.61320324
Investment in AVAX
Schedule Of Investments [Line Items]
Cost	4,090
Fair Value	$ 6,007
% of Net Assets	0.99%
Quantity Of Avalanche \| Avalanche	110,978.33346912

STATEMENTS OF OPERATIONS (UNAUD

STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Investment income:
Investment income	$ 0	$ 0	$ 0	$ 0
Expenses:
Manager's Fee, related party	2,882,000	1,337,000	6,446,000	3,766,000
Net investment loss	(2,882,000)	(1,337,000)	(6,446,000)	(3,766,000)
Net realized and unrealized gain from:
Net realized gain (loss) on investments in digital assets	10,033,000	(6,745,000)	13,077,000	(19,769,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets	225,325,000	110,821,000	326,999,000	111,177,000
Net realized and unrealized gain on investments in digital assets	235,358,000	104,076,000	340,076,000	91,408,000
Net increase in net assets resulting from operations	$ 232,476,000	$ 102,739,000	$ 333,630,000	$ 87,642,000

STATEMENTS OF CHANGES IN NET AS

STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Increase in net assets from operations:
Net investment loss	$ (2,882,000)	$ (1,337,000)	$ (6,446,000)	$ (3,766,000)
Net realized gain (loss) on investments in digital assets	10,033,000	(6,745,000)	13,077,000	(19,769,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets	225,325,000	110,821,000	326,999,000	111,177,000
Net increase in net assets resulting from operations	232,476,000	102,739,000	333,630,000	87,642,000
Increase in net assets from capital share transactions:
Shares issued	0	0	0	0
Net increase in net assets resulting from capital share transactions	0	0	0	0
Total increase in net assets from operations and capital share transactions	232,476,000	102,739,000	333,630,000	87,642,000
Net assets:
Beginning of period	373,786,000	158,755,000	272,632,000	173,852,000	$ 173,852,000
End of period	$ 606,262,000	$ 261,494,000	$ 606,262,000	$ 261,494,000	$ 272,632,000
Change in Shares outstanding:
Shares outstanding at beginning of period	15,867,400	15,867,400	15,867,400	15,867,400	15,867,400
Shares issued	0	0	0	0
Net increase in Shares	0	0	0	0
Shares outstanding at end of period	15,867,400	15,867,400	15,867,400	15,867,400	15,867,400

Organization

Organization	9 Months Ended
Organization	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization The Grayscale Digital Large Cap Fund LLC (the “Fund”) was constituted as a Cayman Islands limited liability company on January 25, 2018 (the inception of the Fund) and commenced operations on February 1, 2018. In general, the Fund will hold digital assets. Historically, and through the period ending June 30, 2022, a digital asset had been eligible for inclusion in the Fund’s portfolio if it satisfied market capitalization, liquidity and coverage criteria as determined by the Manager (as defined below). Effective July 1, 2022, the Fund’s digital assets consist of digital assets that comprise the CoinDesk Large Cap Select Index (the “DLCS”), as rebalanced from time to time, subject to the Manager’s discretion to exclude individual digital assets in certain cases. The DLCS is designed and managed by CoinDesk Indices, Inc. (in this capacity, the “Index Provider”) as discussed in Note 5. As of March 31, 2024 , the digital assets included in the Fund’s portfolio were: Bitcoin (“Bitcoin”), Ethereum (“Ether”), Solana (“SOL”), Cardano (“ADA”), Avalanche (“AVAX”), and XRP (collectively, the “Fund Components”). On a quarterly basis beginning on the second business day of January, April, July and October of each year, the Manager performs an analysis and may rebalance the Fund’s portfolio based on these results in accordance with policies and procedures as set forth in the Fund’s Limited Liability Company Agreement (the “LLC Agreement”). The Fund is authorized under the LLC Agreement to create and issue an unlimited number of equal, fractional, undivided interests in the profits, losses, distributions, capital and assets of, and ownership of, the Fund (“Shares”) (in minimum baskets of 100 Shares, referred to as “Baskets”) in connection with creations. The redemption of Shares is not currently contemplated and the Fund does not currently operate a redemption program. Subject to receipt of regulatory approval and approval by the Manager in its sole discretion, the Fund may in the future operate a redemption program. The Fund currently has no intention of seeking regulatory approval to operate an ongoing redemption program. The Fund’s investment objective is to hold the top digital assets by market capitalization and for the value of the Shares to reflect the value of such Fund Components at any given time, less the Fund’s expenses and other liabilities. From time to time, the Fund may hold cash in U.S. dollars and positions in digital assets as a result of a fork, airdrop or similar event through which the Fund becomes entitled to another digital asset or other property by virtue of its ownership of one or more of the digital assets it then holds (each such new asset, a “Forked Asset”). Grayscale Investments, LLC (“Grayscale” or the “Manager”) acts as the Manager of the Fund and is a wholly owned subsidiary of Digital Currency Group, Inc. (“DCG”). The Manager is responsible for the day-to-day administration of the Fund pursuant to the provisions of the LLC Agreement. Grayscale is responsible for preparing and providing annual and quarterly reports on behalf of the Fund to investors and is also responsible for selecting and monitoring the Fund’s service providers. As partial consideration for the Manager’s services, the Fund pays Grayscale a Manager’s Fee as discussed in Note 7. The Manager also acts as the sponsor and manager of other investment products including Grayscale Basic Attention Token Trust (BAT) (OTCQB: GBAT), Grayscale Bitcoin Trust (BTC) (NYSE Arca: GBTC), Grayscale Bitcoin Cash Trust (BCH) (OTCQX: BCHG), Grayscale Chainlink Trust (LINK) (OTCQX: GLNK), Grayscale Decentraland Trust (MANA) (OTCQX: MANA), Grayscale Ethereum Trust (ETH) (OTCQX: ETHE), Grayscale Ethereum Classic Trust (ETC) (OTCQX: ETCG), Grayscale Filecoin Trust (FIL) (OTCQB: FILG), Grayscale Horizen Trust (ZEN) (OTCQX: HZEN), Grayscale Litecoin Trust (LTC) (OTCQX: LTCN), Grayscale Livepeer Trust (LPT) (OTCQX: GLIV), Grayscale Solana Trust (SOL) (OTCQX: GSOL), Grayscale Stellar Lumens Trust (XLM) (OTCQX: GXLM), Grayscale Zcash Trust (ZEC) (OTCQX: ZCSH), Grayscale Decentralized Finance (DeFi) Fund LLC (OTCQB: DEFG), and Grayscale Smart Contract Platform Ex Ethereum (ETH) Fund LLC, each of which is an affiliate of the Fund. The following investment products sponsored or managed by the Manager are also SEC reporting companies with their shares registered pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): Grayscale Bitcoin Cash Trust (BCH), Grayscale Ethereum Trust (ETH), Grayscale Ethereum Classic Trust (ETC), Grayscale Horizen Trust (ZEN), Grayscale Litecoin Trust (LTC), Grayscale Stellar Lumens Trust (XLM), and Grayscale Zcash Trust (ZEC). On January 10, 2024, the Securities and Exchange Commission (the “SEC”) approved an application under Rule 19b-4 of the Exchange Act by NYSE Arca, Inc. (“NYSE Arca”) to list the shares of the Grayscale Bitcoin Trust (BTC), which began trading on NYSE Arca on January 11, 2024. Grayscale Bitcoin Trust (BTC) is an SEC reporting company with its shares registered pursuant to Section 12(b) of the Exchange Act. Grayscale Advisors, LLC, a Registered Investment Advisor and an affiliate of the Manager, is the advisor to the Grayscale Future of Finance (NYSE Arca: GFOF) product. Authorized Participants of the Fund are the only entities who may place orders to create or, if permitted, redeem Baskets. Grayscale Securities, LLC (“Grayscale Securities” or, in such capacity, an “Authorized Participant”), a registered broker-dealer and wholly owned subsidiary of the Manager, is the only Authorized Participant, and is party to a participant agreement with the Manager and the Fund. Additional Authorized Participants may be added at any time, subject to the discretion of the Manager. Liquidity Providers who are unaffiliated with the Fund may be engaged from time to time and at any time. Genesis Global Trading, Inc. (“Genesis”), a wholly owned subsidiary of DCG, served as a Liquidity Provider from October 3, 2022 to September 12, 2023. The custodian of the Fund is Coinbase Custody Trust Company, LLC (the “Custodian”), a third-party service provider. The Custodian is responsible for safeguarding the Fund Components and Forked Assets held by the Fund, and holding the private key(s) that provide access to the Fund’s digital wallets and vaults. The transfer agent for the Fund (the “Transfer Agent”) is Continental Stock Transfer & Trust Company. The responsibilities of the Transfer Agent are to maintain creations, redemptions, transfers, and distributions of the Fund’s Shares which are primarily held in book-entry form. On October 14, 2019, the Fund received notice that its Shares were qualified for public trading on the OTCQX U.S. Marketplace of the OTC Markets Group, Inc. (“OTCQX”). The Fund’s trading symbol on OTCQX is “GDLC” and the CUSIP number for its Shares is G40705108. The Fund’s previous trading symbol was “GDLCF” on OTCQX and was changed to “GDLC” on April 14, 2020. On July 21, 2020, the Fund registered with the Cayman Islands Monetary Authority (reference number: 1688783). The Fund is registered and regulated as a private fund under the Private Funds Act (As Revised) of the Cayman Islands (the “Private Funds Act”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies In the opinion of management of the Manager of the Fund, all adjustments (which include normal recurring adjustments) necessary to present fairly the financial position as of March 31, 2024 and June 30, 2023 and results of operations for the three and nine months ended March 31, 2024 and 2023 have been made. The results of operations for the periods presented are not necessarily indicative of the results of operations expected for the full year. These unaudited financial statements should be read in conjunction with the audited financial statements for the year ended June 30, 2023 included in the Fund’s Annual Report on Form 10-K. The following is a summary of significant accounting policies followed by the Fund: The financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). The Fund qualifies as an investment company for accounting purposes pursuant to the accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services—Investment Companies . The Fund uses fair value as its method of accounting for digital assets in accordance with its classification as an investment company for accounting purposes. The Fund is not a registered investment company under the Investment Company Act of 1940. GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could differ from those estimates and these differences could be material. The Fund conducts its transactions in Fund Components, including receiving Fund Components for the creation of Shares and delivering Fund Components for the redemption of Shares and for the payment of the Manager’s Fee. At this time, the Fund is not accepting redemption requests from shareholders. Since its inception, the Fund has not held cash or cash equivalents. Principal Market and Fair Value Determination To determine which market is the Fund’s principal market (or in the absence of a principal market, the most advantageous market) for purposes of calculating the Fund’s net asset value in accordance with U.S. GAAP (“Principal Market NAV”), the Fund follows ASC 820-10, which outlines the application of fair value accounting. ASC 820-10 determines fair value to be the price that would be received for each Fund Component in a current sale, which assumes an orderly transaction between market participants on the measurement date. ASC 820-10 requires the Fund to assume that each Fund Component is sold in its principal market to market participants or, in the absence of a principal market, the most advantageous market. Market participants are defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable, and willing and able to transact. The Fund only receives Fund Components in connection with a creation order from the Authorized Participant (or a Liquidity Provider) and does not itself transact on any Digital Asset Markets. Therefore, the Fund looks to market-based volume and level of activity for Digital Asset Markets. The Authorized Participant(s), or a Liquidity Provider, may transact in a Brokered Market, a Dealer Market, Principal-to-Principal Markets and Exchange Markets (referred to as “Trading Platform Markets” in this Quarterly Report), each as defined in the FASB ASC Master Glossary (collectively, “Digital Asset Markets”). In determining which of the eligible Digital Asset Markets is the Fund’s principal market, the Fund reviews these criteria in the following order: First, the Fund reviews a list of Digital Asset Markets that maintain practices and policies designed to comply with anti-money laundering (“AML”) and know-your-customer (“KYC”) regulations, and non-Digital Asset Trading Platform Markets that the Fund reasonably believes are operating in compliance with applicable law, including federal and state licensing requirements, based upon information and assurances provided to it by each market. Second, the Fund sorts these Digital Asset Markets from high to low by market-based volume and level of activity of each Fund Component traded on each Digital Asset Market in the trailing twelve months. Third, the Fund then reviews pricing fluctuations and the degree of variances in price on Digital Asset Markets to identify any material notable variances that may impact the volume or price information of a particular Digital Asset Market. Fourth, the Fund then selects a Digital Asset Market as its principal market based on the highest market-based volume, level of activity and price stability in comparison to the other Digital Asset Markets on the list. Based on information reasonably available to the Fund, Trading Platform Markets have the greatest volume and level of activity for the Fund Components. The Fund therefore looks to accessible Trading Platform Markets as opposed to the Brokered Market, Dealer Market and Principal-to-Principal Markets to determine its principal market for each Fund Component. As a result of the aforementioned analysis, a Trading Platform Market has been selected as the Fund’s principal market for each Fund Component. The Fund determines its principal market (or in the absence of a principal market the most advantageous market) annually and conducts a quarterly analysis to determine (i) if there have been recent changes to each Digital Asset Market’s trading volume and level of activity in the trailing twelve months, (ii) if any Digital Asset Markets have developed that the Fund has access to, or (iii) if recent changes to each Digital Asset Market’s price stability have occurred that would materially impact the selection of the principal market and necessitate a change in the Fund’s determination of its principal market. The cost basis of each Fund Component received in connection with a creation order is recorded by the Fund at the fair value of such Fund Component at 4:00 p.m., New York time, on the creation date for financial reporting purposes. The cost basis recorded by the Fund may differ from proceeds collected by the Authorized Participant from the sale of the corresponding Shares to investors. Investment Transactions and Revenue Recognition The Fund considers investment transactions to be the receipt of Fund Components for Share creations and the delivery of Fund Components for Share redemptions, the payment of expenses in Fund Components or the sale of Fund Components when the Manager rebalances the Fund’s portfolio. At this time, the Fund is not accepting redemption requests from shareholders. The Fund records its investment transactions on a trade date basis and changes in fair value are reflected as net change in unrealized appreciation or depreciation on investments. Realized gains and losses are calculated using the specific identification method. Realized gains and losses are recognized in connection with transactions including settling obligations for the Manager’s Fee and selling Fund Component(s) when the Manager rebalances the Fund’s portfolio. Fair Value Measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the ‘exit price’) in an orderly transaction between market participants at the measurement date. GAAP utilizes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three levels based on the inputs as follows: • Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. Since valuations are based on quoted prices that are readily and regularly available in an active market, these valuations do not entail a significant degree of judgment. • Level 2—Valuations based on quoted prices in markets that are not active or for which significant inputs are observable, either directly or indirectly. • Level 3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The availability of valuation techniques and observable inputs can vary by investment. To the extent that valuations are based on sources that are less observable or unobservable in the market, the determination of fair value requires more judgment. Fair value estimates do not necessarily represent the amounts that may be ultimately realized by the Fund. Fair Value Measurement Using (Amounts in thousands) Amount at Level 1 Level 2 Level 3 March 31, 2024 Assets Investment in Bitcoin $ 423,664 $ 423,664 $ - $ - Investment in Ether 133,179 133,179 - - Investment in SOL 26,104 26,104 - - Investment in XRP 10,336 10,336 - - Investment in ADA 6,972 6,972 - - Investment in AVAX 6,007 6,007 - - $ 606,262 $ 606,262 $ - $ - June 30, 2023 Assets Investment in Bitcoin $ 189,185 $ 189,185 $ - $ - Investment in Ether 75,964 75,964 - - Investment in ADA 3,195 3,195 - - Investment in SOL 2,366 2,366 - - Investment in MATIC 1,922 1,922 - - $ 272,632 $ 272,632 $ - $ - Recently Issued Accounting Pronouncements In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”). ASU 2023-08 is intended to improve the accounting for certain crypto assets by requiring an entity to measure those crypto assets at fair value each reporting period with changes in fair value recognized in net income. The amendments also improve the information provided to investors about an entity’s crypto asset holdings by requiring disclosure about significant holdings, contractual sale restrictions, and changes during the reporting period. ASU 2023-08 is effective for annual and interim reporting periods beginning after December 15, 2024. Early adoption is permitted for both interim and annual financial statements that have not yet been issued. The Manager of the Fund is evaluating this new guidance as of March 31, 2024. If the Manager elects to adopt in a subsequent interim period prior to the effective date, such adoption would be reflected retroactive to the beginning of the fiscal year. The Manager does not anticipate any material impact on its financial statements and disclosures as the Fund historically used fair value as its method of accounting for digital assets in accordance with its classification as an investment company for accounting purposes.

Fair Value of Investments in Di

Fair Value of Investments in Digital Assets	9 Months Ended
Fair Value of Investments in Digital Assets	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Investments in Digital Assets	3. Fair Value of Investments in Digital Assets The Fund Components are held by the Custodian on behalf of the Fund and are carried at fair value. The following table represents the fair value of each Fund Component using the price provided at 4:00 p.m., New York time, by the relevant Digital Asset Trading Platform Market considered to be its principal market, as determined by the Fund: Fund Component Principal Market March 31, 2024 June 30, 2023 Bitcoin Coinbase $ 71,026.32 $ 30,361.94 Ether Coinbase $ 3,637.95 $ 1,925.83 SOL (1) Coinbase $ 200.17 $ 19.09 XRP (4) Coinbase $ 0.63 N/A ADA (2) Coinbase $ 0.65 $ 0.29 AVAX (4) Coinbase $ 54.13 N/A MATIC (3)(4) Coinbase N/A $ 0.66 (1) Effective October 1, 2021, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase SOL in accordance with the Fund Construction Criteria. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing. (2) Effective July 1, 2021, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase ADA in accordance with the Fund Construction Criteria. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing. (3) Effective October 5, 2022, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase MATIC in accordance with the DLCS Methodology. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing. (4) Effective January 3, 2024, the Manager removed MATIC from the Fund’s portfolio and used the cash proceeds to purchase Avalanche and XRP and adjusted the existing Fund Components in proportion to their respective weightings in accordance with the DLCS Methodology. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing. The following represents the changes in quantity of each Fund Component and their respective fair values: (Amounts in thousands, except Bitcoin amounts) Quantity Fair Value Bitcoin balance at June 30, 2022 6,231.43654040 $ 117,743 Bitcoin contributed - - Bitcoin contributed from portfolio rebalancing 157.11106568 3,049 Bitcoin distributed for Manager’s Fee, related party ( 157.56894422 ) ( 3,549 ) Net change in unrealized appreciation on investment in Bitcoin - 69,386 Net realized gain on investment in Bitcoin - 2,556 Bitcoin balance at June 30, 2023 6,230.97866186 $ 189,185 Bitcoin contributed - - Bitcoin distributed from portfolio rebalancing ( 150.37755071 ) ( 6,910 ) Bitcoin distributed for Manager’s Fee, related party ( 115.71862474 ) ( 4,516 ) Net change in unrealized appreciation on investment in Bitcoin - 236,892 Net realized gain on investment in Bitcoin - 9,013 Bitcoin balance at March 31, 2024 5,964.88248641 $ 423,664 (Amounts in thousands, except Ether amounts) Quantity Fair Value Ether balance at June 30, 2022 39,359.77040671 $ 40,136 Ether contributed - - Ether contributed from portfolio rebalancing 1,087.50823575 1,095 Ether distributed for Manager’s Fee, related party ( 1,002.14597330 ) ( 1,568 ) Net change in unrealized appreciation on investment in Ether - 34,695 Net realized gain on investment in Ether - 1,606 Ether balance at June 30, 2023 39,445.13266916 $ 75,964 Ether contributed - - Ether distributed from portfolio rebalancing ( 2,122.80894251 ) ( 4,426 ) Ether distributed for Manager’s Fee, related party ( 713.89274845 ) ( 1,568 ) Net change in unrealized appreciation on investment in Ether - 58,592 Net realized gain on investment in Ether - 4,617 Ether balance at March 31, 2024 36,608.43097820 $ 133,179 (Amounts in thousands, except SOL amounts) Quantity Fair Value SOL balance at June 30, 2022 111,216.13265694 $ 3,557 SOL contributed - - SOL contributed from portfolio rebalancing 15,665.43529877 384 SOL distributed for Manager’s Fee, related party ( 2,965.67266480 ) ( 73 ) Net change in unrealized depreciation on investment in SOL - ( 1,186 ) Net realized loss on investment in SOL - ( 316 ) SOL balance at June 30, 2023 123,915.89529091 $ 2,366 SOL contributed - - SOL contributed from portfolio rebalancing 8,939.48966974 200 SOL distributed for Manager’s Fee, related party ( 2,448.84355804 ) ( 163 ) Net change in unrealized appreciation on investment in SOL - 23,834 Net realized loss on investment in SOL - ( 133 ) SOL balance at March 31, 2024 130,406.54140261 $ 26,104 (Amounts in thousands, except XRP amounts) Quantity Fair Value XRP balance at June 30, 2023 - $ - XRP contributed - - XRP contributed from portfolio rebalancing 16,538,863.154097 9,656 XRP distributed for Manager’s Fee, related party ( 99,119.119333 ) ( 57 ) Net change in unrealized appreciation on investment in XRP - 738 Net realized loss on investment in XRP - ( 1 ) XRP balance at March 31, 2024 16,439,744.034764 $ 10,336 (Amounts in thousands, except ADA amounts) Quantity Fair Value ADA balance at June 30, 2022 10,916,582.900254 $ 4,803 ADA contributed - - ADA contributed from portfolio rebalancing 559,615.581934 231 ADA distributed for Manager’s Fee, related party ( 281,295.930913 ) ( 108 ) Net change in unrealized depreciation on investment in ADA - ( 1,401 ) Net realized loss on investment in ADA - ( 330 ) ADA balance at June 30, 2023 11,194,902.551275 $ 3,195 ADA contributed - - ADA distributed from portfolio rebalancing ( 216,560.642532 ) ( 149 ) ADA distributed for Manager’s Fee, related party ( 208,542.548429 ) ( 88 ) Net change in unrealized appreciation on investment in ADA - 4,461 Net realized loss on investment in ADA - ( 447 ) ADA balance at March 31, 2024 10,769,799.360314 $ 6,972 (Amounts in thousands, except AVAX amounts) Quantity Fair Value AVAX balance at June 30, 2022 88,973.97836461 $ 1,445 AVAX contributed - - AVAX distributed from portfolio rebalancing ( 87,745.50702693 ) ( 974 ) AVAX distributed for Manager’s Fee, related party ( 1,228.47133768 ) ( 21 ) Net change in unrealized appreciation on investment in AVAX - 6,936 Net realized loss on investment in AVAX - ( 7,386 ) AVAX balance at June 30, 2023 - $ - AVAX contributed - - AVAX contributed from portfolio rebalancing 111,647.44818623 4,115 AVAX distributed for Manager’s Fee, related party ( 669.11471711 ) ( 28 ) Net change in unrealized appreciation on investment in AVAX - 1,917 Net realized gain on investment in AVAX - 3 AVAX balance at March 31, 2024 110,978.33346912 $ 6,007 (Amounts in thousands, except MATIC amounts) Quantity Fair Value MATIC balance at June 30, 2022 - $ - MATIC contributed - - MATIC contributed from portfolio rebalancing 2,979,195.20726440 2,524 MATIC distributed for Manager’s Fee, related party ( 53,165.59406116 ) ( 51 ) Net change in unrealized depreciation on investment in MATIC - ( 565 ) Net realized gain on investment in MATIC - 14 MATIC balance at June 30, 2023 2,926,029.61320324 $ 1,922 MATIC contributed - - MATIC distributed from portfolio rebalancing ( 2,887,850.26244458 ) ( 2,486 ) MATIC distributed for Manager’s Fee, related party ( 38,179.35075866 ) ( 26 ) Net change in unrealized appreciation on investment in MATIC - 565 Net realized gain on investment in MATIC - 25 MATIC balance at March 31, 2024 - $ - (Amounts in thousands, except DOT amounts) Quantity Fair Value DOT balance at June 30, 2022 328,187.49357863 $ 2,235 DOT contributed - - DOT distributed from portfolio rebalancing ( 328,052.64509826 ) ( 2,247 ) DOT distributed for Manager’s Fee, related party ( 134.84848037 ) ( 1 ) Net change in unrealized appreciation on investment in DOT - 5,103 Net realized loss on investment in DOT - ( 5,090 ) DOT balance at June 30, 2023 - $ - (Amounts in thousands, except LTC amounts) Quantity Fair Value LTC balance at June 30, 2022 23,725.08718334 $ 1,220 LTC contributed - - LTC distributed from portfolio rebalancing ( 23,715.33881688 ) ( 1,177 ) LTC distributed for Manager’s Fee, related party ( 9.74836646 ) ( 1 ) Net change in unrealized appreciation on investment in LTC - 574 Net realized loss on investment in LTC - ( 616 ) LTC balance at June 30, 2023 - $ - (Amounts in thousands, except UNI amounts) Quantity Fair Value UNI balance at June 30, 2022 232,687.02308212 $ 1,122 UNI contributed - - UNI distributed from portfolio rebalancing ( 232,591.41465073 ) ( 1,236 ) UNI distributed for Manager’s Fee, related party ( 95.60843139 ) - Net change in unrealized appreciation on investment in UNI - 3,937 Net realized loss on investment in UNI - ( 3,823 ) UNI balance at June 30, 2023 - $ - (Amounts in thousands, except LINK amounts) Quantity Fair Value LINK balance at June 30, 2022 158,987.59087114 $ 960 LINK contributed - - LINK distributed from portfolio rebalancing ( 158,922.26469191 ) ( 989 ) LINK distributed for Manager’s Fee, related party ( 65.32617923 ) ( 1 ) Net change in unrealized appreciation on investment in LINK - 3,726 Net realized loss on investment in LINK - ( 3,696 ) LINK balance at June 30, 2023 - $ - (Amounts in thousands, except BCH amounts) Quantity Fair Value BCH balance at June 30, 2022 6,314.20828653 $ 631 BCH contributed - - BCH distributed from portfolio rebalancing ( 6,311.61385070 ) ( 660 ) BCH distributed for Manager’s Fee, related party ( 2.59443583 ) - Net change in unrealized appreciation on investment in BCH - 1,662 Net realized loss on investment in BCH - ( 1,633 ) BCH balance at June 30, 2023 - $ -

Portfolio Rebalancing

Portfolio Rebalancing	9 Months Ended
Portfolio Rebalancing	Mar. 31, 2024
Portfolio Rebalancing Disclosure [Abstract]
Portfolio Rebalancing	4. Portfolio Rebalancing From inception through June 30, 2022, the Fund sought to hold digital assets with market capitalizations that collectively constituted at least 70 % of the market capitalization of the entire digital asset market (the “Target Coverage Ratio”) and determined the Fund Components by reference to fund construction criteria that consisted of market capitalization, liquidity and coverage criteria established by the Manager (the “Target Coverage Ratio Methodology”). Through the Target Coverage Ratio Methodology, the Fund sought to (i) provide large-cap coverage of the digital asset market; (ii) minimize transaction costs through low turnover of the Fund’s portfolio; and (iii) create a portfolio that could be replicated through direct purchases in the Digital Asset Market. Effective July 1, 2022, the Manager replaced the Target Coverage Ratio Methodology as the fund construction criteria and no longer seeks to hold Fund Components meeting the Target Coverage Ratio. Instead, the Fund Components consist of the digital assets that make up the DLCS, as rebalanced from time to time, subject to the Manager’s discretion to exclude individual digital assets in certain cases. The DLCS is designed and managed by the Index Provider. The process followed by the Index Provider to determine the digital assets included in the DLCS and their respective weightings in the DLCS is referred to as the “DLCS Methodology.” Effective July 1, 2022, the Index Provider reviews the DLCS for rebalancing according to the DLCS Methodology quarterly during a period beginning 14 days before the end of each March, June, September and December (each such period, an “Index Rebalancing Period”). At the start of each Index Rebalancing Period, the Index Provider applies the DLCS Methodology to determine any changes to the Index Components and the respective weightings of the Index Components within DLCS, as determined by the Index Provider based on market capitalization criteria (the “Index Weightings”), after which the Manager rebalances the Fund’s portfolio accordingly, subject to application of the Exclusion Criteria. In order to rebalance the Fund’s portfolio, the Manager will (i) determine whether any Fund Components have been removed from the DLCS and should therefore be removed as Fund Components, (ii) determine whether any new digital assets have been added to the DLCS and should therefore be included as Fund Components, and (iii) determine how much cash and Forked Assets the Fund holds. If a Fund Component is no longer included in the DLCS, the Manager will adjust the Fund’s portfolio by selling such Fund Component in the Digital Asset Markets in proportion to their respective weightings in the Fund (“Weightings”) and using the cash proceeds to purchase additional tokens of the remaining Fund Components and, if applicable, any new Fund Component in proportion to their respective Weightings. The Weightings of each Fund Component are generally expected to be the same as the weighting of each digital asset in the DLCS except when the Manager determines to exclude one or more digital assets included in the DLCS from the Fund Components. If a digital asset not then included in the Fund’s portfolio is newly eligible for inclusion in the Fund’s portfolio because it was added to the DLCS and not excluded through the Exclusion Criteria, the Manager will adjust the Fund’s portfolio by selling tokens of the then-current Fund Components in the Digital Asset Markets in proportion to their respective Weightings and using the cash proceeds to purchase tokens of the newly eligible digital assets. The Manager will rebalance the Fund’s portfolio quarterly during a period beginning on the second business day of each January, April, July and October (each such period, a “Fund Rebalancing Period”). The Manager expects each Fund Rebalancing Period to last between one and five business days. The DLCS, and therefore the Fund, may also be rebalanced mid-quarter, prior to the Index Rebalancing Period under extraordinary circumstances, if, for example, a digital asset is removed from the Index. On April 6, 2021, the Manager of the Fund announced the updated Fund Component weightings for the Fund in connection with its quarterly review. Effective April 2, 2021, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase LINK in accordance with the Fund’s construction criteria. On April 2, 2021, the Fund recognized a realized gain of $ 4,398,884 in connection with the sale of 90.96800168 Bitcoin and 58.85027824 BCH, to purchase 381.07775172 Ether, 5.31504341 LTC and 154,021.49829970 LINK. On July 2, 2021, the Manager of the Fund announced the updated Fund Component weightings for the Fund in connection with its quarterly review. Effective July 1, 2021, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase ADA in accordance with the Fund’s construction criteria. On July 1, 2021, the Fund recognized a realized gain of $ 11,651,902 in connection with the sale of 225.33929087 Bitcoin, 3,622.13172739 Ether, 68.33481591 BCH and 722.93691458 LTC, to purchase 11,256,632.53387140 ADA and 13,460.14709855 LINK. On October 1, 2021, the Manager of the Fund announced the updated Fund Component weightings for the Fund in connection with its quarterly review. The Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase SOL and UNI in accordance with the Fund’s construction criteria. On October 1, 2021, the Fund recognized a realized gain of $ 14,980,028 in connection with the sale of 431.18779320 Bitcoin, 568.90340080 Ether, 312.68264910 BCH, 1,332.29529100 LTC and 4,669.36765100 LINK, to purchase 393,666.73666700 ADA, 106,015.34887688 SOL and 213,332.22308637 UNI. On April 5, 2022, the Manager of the Fund announced the updated Fund Component weightings for the Fund in connection with its quarterly review. The Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase DOT and AVAX in accordance with the Fund’s construction criteria. On April 5, 2022, the Fund recognized a realized gain of $ 12,437,503 in connection with the sale of 299.12356960 Bitcoin, 799.44969220 Ether, 525.96222080 BCH, and 471,808.63300000 ADA, to purchase 154.01722821 LTC, 600.38311024 LINK, 7,207.59678111 SOL, 23,446.19411389 UNI, 89,505.76684675 AVAX and 330,149.03708006 DOT. Effective July 1, 2022, the Fund replaced the Target Coverage Ratio Methodology with the DLCS Methodology. The change in methodology resulted in the removal of BCH, LINK, LTC, DOT, and UNI in proportion to their respective weighing on July 7, 2022 following the quarterly Fund Rebalancing Period. On July 7, 2022, the Fund recognized a realized loss of $ 14,895,069 in connection with the sale of 6,311.61385070 BCH, 23,715.33881688 LTC, 158,922.26469191 LINK, 232,591.41465073 UNI and 328,052.64509826 DOT, to purchase 199.83559815 Bitcoin, 1,507.83089471 Ether, 451,468.27947474 ADA, 4,253.16323862 SOL and 5,714.46623435 AVAX. On October 4, 2022, the Index Provider completed the quarterly rebalancing of the DLCS and determined that Bitcoin, Ether, ADA, SOL, MATIC and AVAX met the inclusion criteria of the DLCS Index. On October 4, 2022, following the rebalancing of the Index, the Manager completed its quarterly review of the Fund’s portfolio and initiated the process of rebalancing the Fund. The Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective Weightings and using the cash proceeds to purchase SOL, AVAX and MATIC. As a result, MATIC was added to the Fund. No tokens were removed from the Fund. On October 5, 2022, following the rebalancing, the Fund recognized a realized gain of $ 1,133,040 in connection with the sale of 98.97782869 Bitcoin, 363.52443217 Ether and 54,505.66521500 ADA, to purchase 1,776.60193605 SOL, and 3,070.74446103 AVAX and 2,879,708.35424883 MATIC. On January 4, 2023, the Index Provider completed the quarterly rebalancing of the DLCS and determined that Bitcoin, Ether, ADA, SOL and MATIC met the inclusion criteria of the DLCS Index, but AVAX did not. On January 4, 2023, following the rebalancing of the Index, the Manager completed its quarterly review of the Fund’s portfolio and initiated the process of rebalancing the Fund. The Manager adjusted the Fund’s portfolio by selling AVAX and using the cash proceeds to purchase certain amounts of the other existing Fund Components in proportion to their respective Weightings following the rebalancing. As a result of the rebalancing, AVAX was removed from the Fund. On January 5, 2023, following the rebalancing, the Fund recognized a realized loss of $ 7,304,129 in connection with the sale of 96,557.16902347 AVAX to purchase 53.65562532 Bitcoin, 108.99277511 Ether, 133,890.68719500 ADA, 4,362.39069485 SOL, and 143.42553998 MATIC. On April 4, 2023, the Index Provider completed the quarterly rebalancing of the DLCS and determined that Bitcoin, Ether, ADA, SOL and MATIC met the inclusion criteria of the DLCS Index. On April 4, 2023, following the rebalancing of the Index, the Manager completed its quarterly review of the Fund’s portfolio and initiated the process of rebalancing the Fund. The Manager adjusted the Fund’s portfolio by purchasing and selling the existing Fund Components in proportion to their respective Weightings. No new tokens were added to or removed from the Fund. On April 5, 2023, following the rebalancing, the Fund recognized a realized gain of $ 227,762 in connection with the sale of 165.79100190 Ether to purchase 2.5976090 Bitcoin, 28,762.28047849 ADA, 5,273.27942925 SOL, and 99,343.42747559 MATIC. On July 5, 2023, the Index Provider completed the quarterly rebalancing of the DLCS and determined that Bitcoin, Ether, ADA, SOL and MATIC met the inclusion criteria of the DLCS Index. On July 5, 2023, following the rebalancing of the Index, the Manager completed its quarterly review of the Fund’s portfolio and initiated the process of rebalancing the Fund. The Manager adjusted the Fund’s portfolio by purchasing and selling the existing Fund Components in proportion to their respective Weightings. No new tokens were added to or removed from the Fund. On July 6, 2023, following the rebalancing, the Fund recognized a realized gain of $ 906,943 in connection with the sale of 645.45710183 Ether to purchase 34.54527749 Bitcoin, 81,945.38000000 ADA, 4,934.25000000 SOL, and 80,972.91000000 MATIC. On October 3, 2023, the Index Provider completed the quarterly rebalancing of the DLCS and determined that Bitcoin, Ether, ADA, SOL and MATIC met the inclusion criteria of the DLCS Index. On October 3, 2023, following the rebalancing of the Index, the Manager completed its quarterly review of the Fund’s portfolio and initiated the process of rebalancing the Fund. The Manager adjusted the Fund’s portfolio by purchasing and selling the existing Fund Components in proportion to their respective Weightings. No new tokens were added to or removed from the Fund. On October 4, 2023, following the rebalancing, the Fund recognized a realized gain of $ 149,939 in connection with the sale of 131.74000000 Ether and 9,814.74000000 MATIC to purchase 4.60330000 Bitcoin, 19,528.13080000 ADA, and 3,893.97900000 SOL. On January 3, 2024, the Index Provider completed the quarterly rebalancing of the DLCS and determined that Bitcoin, Ether, ADA, SOL, AVAX, and XRP met the inclusion criteria of the DLCS Index. On January 3, 2024, following the rebalancing of the Index, the Manager completed its quarterly review of the Fund’s portfolio and initiated the process of rebalancing the Fund. The Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase AVAX and XRP. As a result of the rebalancing, AVAX and XRP have been added to the Fund, and MATIC has been removed from the Fund. On January 4, 2024, following the rebalancing, the Fund recognized a realized gain of $ 7,968,963 in connection with the sale of 189.52612820 Bitcoin, 1,345.61184068 Ether, 318,034.15333200 ADA, and 2,959,008.43244458 MATIC to purchase 111.26066974 SOL, 16,538,863.15409700 XRP, and, 111,647.44818623 AVAX.

Creations and Redemptions of Sh

Creations and Redemptions of Shares	9 Months Ended
Creations and Redemptions of Shares	Mar. 31, 2024
Equity [Abstract]
Creations and Redemptions of Shares	5. Creations and Redemptions of Shares At March 31, 2024 and June 30, 2023, there were an unlimited number of Shares authorized by the Fund. The Fund creates (and, should the Fund commence a redemption program, redeems) Shares from time to time, but only in one or more Baskets. The creation and redemption of Baskets on behalf of investors are made by the Authorized Participant in exchange for the delivery of tokens of each Fund Component to the Fund, or the distribution of tokens of each Fund Component by the Fund, plus cash representing the Forked Asset portion, if any, and the U.S. Dollar portion, if any. The amount of tokens of each Fund Component required for each creation Basket or redemption Basket is determined by dividing (x) the total amount of tokens of such Fund Component held by the Fund at 4:00 p.m., New York time, on such trade date of a creation or redemption order, after deducting the amount of tokens of each Fund Component payable as the Manager’s Fee and the amount of tokens of such Fund Component payable as a portion of Additional Fund Expenses (as defined in Note 7), by (y) the number of Shares outstanding at such time and multiplying the quotient obtained by 100. Each Share represented approximately 0.0004 of one Bitcoin, 0.0023 of one Ether, 0.0082 of one SOL, 0.6787 of one ADA, 0.0070 of one AVAX, and 1.0361 of one XRP at March 31, 2024 . Each Share represented approximately 0.0004 of one Bitcoin, 0.0025 of one Ether, 0.0078 of one SOL, 0.7055 of one ADA, and 0.1844 of one MATIC at June 30, 2023. The cost basis of investments in each Fund Component recorded by the Fund is the fair value of each Fund Component, as determined by the Fund, at 4:00 p.m., New York time, on the date of transfer to the Fund by the Authorized Participant, or Liquidity Provider, based on the creation Baskets. The cost basis recorded by the Fund may differ from proceeds collected by the Authorized Participant from the sale of each Share to investors. The Authorized Participant or Liquidity Provider may realize significant profits buying, selling, creating, and, if permitted, redeeming Shares as a result of changes in the value of Shares or each Fund Component. In addition, the Authorized Participant or Liquidity Provider may realize significant profits through the sale of digital assets during a Fund Rebalancing Period. At this time, the Fund is not operating a redemption program and is not accepting redemption requests. Subject to receipt of regulatory approval and approval by the Manager in its sole discretion, the Fund may in the future operate a redemption program. The Fund currently has no intention of seeking regulatory approval to operate an ongoing redemption program. Further, the Fund is registered and regulated as a private fund under the Private Funds Act. The Cayman Islands Monetary Authority has supervisory and enforcement powers to ensure the Fund’s compliance with the Private Funds Act. Before the Fund is able to effect open redemptions as an open-ended Fund, it will be required to meet the requirements of, and register with, the Cayman Islands Monetary Authority and be regulated as a mutual fund under the Mutual Funds Law (As Revised) of the Cayman Islands .

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes The Government of the Cayman Islands does not, and will not, under existing Cayman law, impose any income, corporate or capital gains tax, estate duty, inheritance tax, gift tax or withholding tax upon the Fund or the shareholders. Interest, dividends and gains payable to the Fund and all distributions by the Fund to shareholders will be received free of any Cayman Islands income or withholding taxes. The Fund has elected to be treated as a corporation for U.S. federal income tax purposes. The Manager believes that the Fund will not be treated as engaged in a trade or business in the United States and thus will not derive income that is treated as “effectively connected” with the conduct of a trade or business in the United States (“effectively connected income”) under the U.S. Internal Revenue Code of 1986, as amended (the “Code”) and corresponding tax regulations (e.g., including under Sections 861 through 865). There can, however, be no complete assurance in this regard. If the Fund were treated as engaged in a trade or business in the United States, it would be subject to U.S. federal income tax, at the rates applicable to U.S. corporations (currently, at the rate of 21 %), on its net effectively connected income. Any such income might also be subject to U.S. state and local income taxes. In addition, the Fund would be subject to a 30% U.S. branch profits tax in respect of its “dividend equivalent amount,” as defined in Section 884 of the Code, attributable to its effectively connected income (generally, the after-tax amount of certain effectively connected income that is not treated as reinvested in the trade or business). If the Fund were treated as engaged in a trade or business in the United States during any taxable year, it would be required to file a U.S. federal income tax return for that year, regardless of whether it recognized any effectively connected income. If the Fund did not file U.S. federal income tax returns and were later determined to have engaged in a U.S. trade or business, it would generally not be entitled to offset its effectively connected income and gains against its effectively connected losses and deductions (and, therefore, would be taxable on its gross, rather than net, effectively connected income). If the Fund recognizes any effectively connected income, the imposition of U.S. taxes on such income may have a substantial adverse effect on the return to shareholders. Due to the new and evolving nature of digital assets and a general absence of clearly controlling authority with respect to digital assets, many significant aspects of the U.S. federal income tax treatment of digital assets (including with respect to the amount, timing, and character of income recognition) are uncertain. The Manager believes that, in general, gains and losses recognized by the Fund from the sale or other disposition of digital assets will be treated as capital gains or losses. However, it is possible that the IRS will not agree with the Fund’s U.S. federal tax treatment of digital assets. In accordance with GAAP, the Fund has defined the threshold for recognizing the benefits of tax return positions in the financial statements as “more-likely-than-not” to be sustained by the applicable taxing authority and requires measurement of a tax position meeting the “more-likely-than-not” threshold, based on the largest benefit that is more than 50% likely to be realized. Tax positions not deemed to meet the “more-likely-than-not” threshold are recorded as a tax benefit or expense in the current period. As of, and during the periods ended March 31, 2024 and June 30, 2023, the Fund did not have a liability for any unrecognized tax amounts. However, the Manager’s conclusions concerning its determination of “more likely than not” tax positions may be subject to review and adjustment at a later date based on factors including, but not limited to, further implementation guidance, and ongoing analyses of and changes to tax laws, regulations and interpretations thereof. The Manager of the Fund has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions related to federal, state and local income taxes existed as of March 31, 2024 or June 30, 2023 .

Related Parties

Related Parties	9 Months Ended
Related Parties	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Parties	7. Related Parties The Fund considered the following entities, their directors and certain employees to be related parties of the Fund as of March 31, 2024: DCG, Genesis, Grayscale and Grayscale Securities. As of March 31, 2024 and June 30, 2023 , 1,054,987 and 1,213,437 Shares of the Fund were held by related parties of the Fund, respectively. The Manager’s parent, an affiliate of the Fund, holds a minority interest in Coinbase, Inc., the parent company of the Custodian, that represents less than 1.0 % of Coinbase, Inc.’s ownership. In accordance with the LLC Agreement governing the Fund, the Fund pays a fee to the Manager, calculated as 2.5 % of the aggregate value of the Fund’s NAV, less its liabilities (which include any accrued but unpaid expenses up to, but excluding, the date of calculation), as calculated and published by the Manager or its delegates (the “Manager’s Fee”). The Manager’s Fee accrues daily in U.S. dollars and is payable in Fund Components then held by the Fund in proportion to their respective Fund Component’s Weighting. The U.S. dollar amount of the Manager’s Fee will be converted into Fund Components on a daily basis by multiplying such U.S. dollar amount by the Weighing for each Fund Component and dividing the resulting product for each Fund Component by the U.S. dollar value for such Fund Component on such day. For purposes of these financial statements, the U.S. dollar value of Fund Components is determined by reference to the Digital Asset Trading Platform Market that the Fund considers its principal market as of 4:00 p.m., New York time, on each valuation date. No Forked Assets have been distributed in payment of the Manager’s Fee during the three and nine months ended March 31, 2024 and 2023. As partial consideration for receipt of the Manager’s Fee, the Manager shall assume and pay all fees and other expenses incurred by the Fund in the ordinary course of its affairs, excluding taxes, but including marketing fees; administrator fees, if any; custodian fees; transfer agent fees; trustee fees; the fees and expenses related to the listing, quotation or trading of the Shares on any secondary market (including customary legal, marketing and audit fees and expenses) in an amount up to $ 600,000 in any given fiscal year; ordinary course legal fees and expenses; audit fees; regulatory fees, including, if applicable, any fees relating to the registration of the Shares under the Securities Act or the Exchange Act and fees relating to registration and any other regulatory requirements in the Cayman Islands; printing and mailing costs; the costs of maintaining the Fund’s website and applicable license fees (together, the “Manager-paid Expenses”). The Fund may incur certain extraordinary, non-recurring expenses that are not Manager-paid Expenses, including, but not limited to, taxes and governmental charges, expenses and costs of any extraordinary services performed by the Manager (or any other service provider) on behalf of the Fund to protect the Fund or the interests of shareholders (including in connection with any Forked Assets), any indemnification of the Custodian or other agents, service providers or counterparties of the Fund, the fees and expenses related to the listing, quotation or trading of the Shares on any secondary market (including legal, marketing and audit fees and expenses) to the extent exceeding $ 600,000 in any given fiscal year and extraordinary legal fees and expenses, including any legal fees and expenses incurred in connection with litigation, regulatory enforcement or investigation matters (collectively, “Additional Fund Expenses”). In such circumstances, the Manager or its delegate (i) will instruct the Custodian to withdraw from the digital asset accounts Fund Components in proportion to their respective Weightings at such time and in such quantity as may be necessary to permit payment of such Additional Fund Expenses and (ii) may either (x) cause the Fund (or its delegate) to convert such Fund Components into U.S. dollars or other fiat currencies at the price per single unit of such asset (determined net of any associated fees) at which the Fund is able to sell such asset or (y) when the Manager incurs such expenses on behalf of the Fund, cause the Fund (or its delegate) to deliver such Fund Components, and/or Forked Assets in kind to the Manager, in each case in such quantity as may be necessary to permit payment of such Additional Fund Expenses. For the three months ended March 31, 2024 and 2023, the Fund incurred Manager’s Fees of $ 2,883,172 and $ 1,337,080 , respectively. For the nine months ended March 31, 2024 and 2023, the Fund incurred Manager’s Fees of $ 6,445,982 and $ 3,766,376 , respectively. As of March 31, 2024 and June 30, 2023 , there were no accrued and unpaid Manager’s Fees. In addition, the Manager may pay Additional Fund Expenses on behalf of the Fund, which are reimbursable by the Fund to the Manager. For the three and nine months ended March 31, 2024 and 2023 , the Manager did no t pay any Additional Fund Expenses on behalf of the Fund. On March 2, 2022, the Board of the Manager (the “Board”) approved the purchase by DCG, the parent company of the Manager, of up to an aggregate total of $ 200 million worth of Shares of the Fund and shares of any of the following five investment products the Manager also acts as the sponsor and manager of, including Grayscale Bitcoin Trust (BTC) (NYSE Arca: GBTC), Grayscale Bitcoin Cash Trust (BCH) (OTCQX: BCHG), Grayscale Ethereum Trust (ETH) (OTCQX: ETHE), Grayscale Ethereum Classic Trust (ETC) (OTCQX: ETCG), and Grayscale Stellar Lumens Trust (XLM) (OTCQX: GXLM). Subsequently, DCG authorized such purchase. The Share purchase authorization does not obligate DCG to acquire any specific number of Shares in any period, and may be expanded, extended, modified, or discontinued at any time. From March 2, 2022 through March 31, 2024 , DCG had not purchased any Shares of the Fund under this authorization.

Risks and Uncertainties

Risks and Uncertainties	9 Months Ended
Risks and Uncertainties	Mar. 31, 2024
Risks and Uncertainties [Abstract]
Risks and Uncertainties	8. Risks and Uncertainties The Fund is subject to various risks including market risk, liquidity risk, and other risks related to its concentration in digital assets. Investing in digital assets is currently highly speculative and volatile. The Principal Market NAV of the Fund, calculated by reference to the principal market prices in accordance with U.S. GAAP, relates primarily to the value of the Fund Components, and fluctuations in the prices of such Fund Components could materially and adversely affect an investment in the Shares of the Fund. The prices of the Fund Components have a very limited history. During such history, the market prices of such Fund Components have been volatile and subject to influence by many factors, including the levels of liquidity. If the Digital Asset Markets continue to experience significant price fluctuations, the Fund may experience losses. Several factors may affect the market price of the Fund Components, including, but not limited to, global supply and demand of such Fund Components, theft of such Fund Components from global trading platforms or vaults, competition from other forms of digital assets or payment services, global or regional political, economic or financial conditions, and other unforeseen events and situations. The digital asset networks relevant to the Fund Components are decentralized to an extent, meaning no single entity owns or operates them. Some digital asset networks, such as the Bitcoin, Ether, SOL, XRP, ADA, and AVAX networks, are collectively maintained by a decentralized user base. The Fund Components are commingled, and the Fund’s shareholders have no specific rights to any specific Fund Component. In the event of the insolvency of the Fund, its assets may be inadequate to satisfy a claim by its shareholders. There is currently no clearing house for the Fund Components, nor is there a central or major depository for the custody of such Fund Components. There is a risk that some or all of the Fund Components could be lost or stolen. There can be no assurance that the Custodian will maintain adequate insurance or that such coverage will cover losses with respect to the Fund Components. Further, transactions in the Fund Components are irrevocable. Stolen or incorrectly transferred Fund Components may be irretrievable. As a result, any incorrectly executed Fund Component transactions could adversely affect an investment in the Shares. The SEC has stated that certain digital assets may be considered “securities” under the federal securities laws. The test for determining whether a particular digital asset is a “security” is complex and difficult to apply, and the outcome is difficult to predict. Public, though non-binding, statements by senior officials at the SEC have indicated that the SEC did not consider Bitcoin or Ether to be securities, and does not currently consider Bitcoin to be a security. The SEC staff has also provided informal assurances via no-action letter to a handful of promoters that their digital assets are not securities. On the other hand, the SEC has brought enforcement actions against the issuers and promoters of several other digital assets on the basis that the digital assets in question are securities. Further, Ripple Labs, Inc. (“Ripple”), the company that retains a key role in stewarding the development of XRP, is currently a defendant in a federal class-action lawsuit filed by certain XRP holders that alleges that XRP is a security issued by Ripple. In addition, in 2020 the SEC filed a complaint against the issuer of XRP, Ripple Labs, Inc., and two of its executives, alleging that they raised more than $ 1.3 billion through XRP sales that should have been registered under the federal securities laws, but were not. If a Fund Component is determined to be a “security” under federal or state securities laws by the SEC or any other agency, or in a proceeding in a court of law or otherwise, it may have material adverse consequences for such Fund Component. For example, it may become more difficult for such Fund Component to be traded, cleared and custodied as compared to other digital assets that are not considered to be securities, which could, in turn, negatively affect the liquidity and general acceptance of such Fund Component and cause users to migrate to other digital assets. As such, any determination that a Fund Component is a security under federal or state securities laws may adversely affect the value of such Fund Component and, as a result, an investment in the Shares. To the extent that a Fund Component is determined to be a security, the Fund and the Manager may also be subject to additional regulatory requirements, including under the Investment Company Act of 1940, and the Manager may be required to register as an investment adviser under the Investment Advisers Act of 1940. If the Manager determines not to comply with such additional regulatory and registration requirements, the Manager will terminate the Fund. Any such termination could result in the liquidation of the Fund’s digital assets at a time that is disadvantageous to shareholders. As with any computer network, digital asset networks are vulnerable to various kinds of attacks and disruptions. For example, each digital asset network of the Fund Components, for which it is relevant, is vulnerable to a “51% attack” where, if a malicious actor were to gain control of more than 50% of a network’s hash rate, it would be able to gain full control of the network and the ability to manipulate the relevant blockchains on which the respective Fund Components settle. In May 2019, the Bitcoin Cash network experienced a 51% attack when two mining pools combined their hash rates to reverse a block of transactions that rewarded tokens to an unknown actor who had taken advantage of an unrelated vulnerability in the Bitcoin Cash network. The Fund did not suffer any direct losses as a result of the attack. Although this particular attack could be interpreted as reversing a separate attack on the Bitcoin Cash network, the Bitcoin Cash network may be vulnerable to future 51% attacks that could result in a loss of confidence in the Bitcoin Cash network. Additionally, as an example of a network disruption, the Solana network experienced a significant disruption on September 14, 2021, later attributed to a type of denial of service attack, and was offline for 17 hours, only returning to full functionality 24 hours later. While persons associated with Solana Labs and/or the Solana Foundation are understood to have played a key role in bringing the network back online, the broader community also played a key role, as Solana validators coordinated to upgrade and restart the network. Furthermore, like any smart contract platform that utilizes bridge technology, digital assets transferred to or from other blockchains are vulnerable to certain types of exploits. For example, on February 3, 2022, hackers were able to manipulate the Wormhole bridge smart contract code which enables the transfer of certain digital assets to the Solana Network, to divert approximately 120,000 Ether from the Wormhole bridge to the attacker’s Ether wallet. While Jump Crypto, the creators of the Wormhole bridge, replenished the stolen Ether, effectively backstopping user losses, they or other creators may not be able to do so again in the future. The development of bridges on digital asset networks is ongoing and further attacks on bridges compatible with a digital asset network of a Fund Component could have a material adverse effect on the value of such Fund Component and an investment in the Shares. To the extent a private key required to access a Fund Component address is lost, destroyed or otherwise compromised and no backup of the private key is accessible, the Fund may be unable to access the relevant Fund Component controlled by the private key and the private key will not be capable of being restored by the network of such Fund Component. The processes by which the Fund Component transactions are settled are dependent on the peer-to-peer network of such Fund Component, and as such, the Fund is subject to operational risk. A risk also exists with respect to previously unknown technical vulnerabilities, which may adversely affect the value of the Fund Component. The Fund relies on third-party service providers to perform certain functions essential to its operations. Any disruptions to the Fund’s service providers’ business operations resulting from business failures, financial instability, security failures, government mandated regulation or operational problems could have an adverse impact on the Fund’s ability to access critical services and be disruptive to the operations of the Fund. The Manager and the Fund may be subject to various litigation, regulatory investigations, and other legal proceedings that arise in the ordinary course of its business.

Financial Highlights Per Share

Financial Highlights Per Share Performance	9 Months Ended
Financial Highlights Per Share Performance	Mar. 31, 2024
Investment Company, Financial Highlights [Abstract]
Financial Highlights Per Share Performance	9. Financial Highlights Per Share Performance Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Per Share Data: Principal market net asset value, beginning of period $ 23.56 $ 10.01 $ 17.18 $ 10.96 Net increase in net assets from investment operations: Net investment loss ( 0.18 ) ( 0.08 ) ( 0.41 ) ( 0.24 ) Net realized and unrealized gain 14.83 6.55 21.44 5.76 Net increase in net assets resulting from operations 14.65 6.47 21.03 5.52 Principal market net asset value, end of period $ 38.21 $ 16.48 $ 38.21 $ 16.48 Total return 62.18 % 64.64 % 122.41 % 50.36 % Ratios to average net assets: Net investment loss - 2.50 % - 2.50 % - 2.50 % - 2.50 % Expenses - 2.50 % - 2.50 % - 2.50 % - 2.50 % Ratios of net investment loss and expenses to average net assets have been annualized. An individual shareholder’s return, ratios, and per Share performance may vary from those presented above based on the timing of Share transactions. The amount shown for a Share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the number of Shares issued in Creations occurring at an operational value derived from an operating metric as defined in the LLC Agreement. Total return is calculated assuming an initial investment made at the Principal Market NAV at the beginning of the period and assuming redemption on the last day of the period.

Indemnifications

Indemnifications	9 Months Ended
Indemnifications	Mar. 31, 2024
Indemnifications Disclosure [Abstract]
Indemnifications	10. Indemnifications In the normal course of business, the Fund enters into certain contracts that provide a variety of indemnities, including contracts with the Manager and affiliates of the Manager, DCG and its officers, directors, employees, subsidiaries and affiliates, and the Custodian as well as others relating to services provided to the Fund. The Fund’s maximum exposure under these and its other indemnities is unknown. However, no liabilities have arisen under these indemnities in the past and, while there can be no assurances in this regard, there is no expectation that any will occur in the future. Therefore, the Manager does not consider it necessary to record a liability in this regard.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent Events On April 2, 2024, the Index Provider completed the quarterly rebalancing of the DLCS and determined that Bitcoin, Ether, SOL, AVAX, and XRP met the inclusion criteria of the DLCS Index. On April 3, 2024, following the rebalancing of the Index, the Manager completed its quarterly review of the Fund’s portfolio and initiated the process of rebalancing the Fund. The Manager adjusted the Fund’s portfolio by selling ADA and using the cash proceeds to purchase the existing Fund Components in proportion to their respective weightings. As a result of the rebalancing, ADA has been removed the Fund. As of April 3, 2024, following the rebalancing, the Fund Components consisted of 70.96 % Bitcoin, 21.84 % Ether, 4.52 % SOL, 1.73 % XRP, and 0.95 % AVAX, and each of the Fund’s shares represented 0.0004 Bitcoin, 0.0023 Ether, 0.0086 SOL, 1.0600 XRP, and 0.0073 AVAX. As of the close of business on April 30, 2024 , the fair value of each Fund Component, determined in accordance with the Fund’s accounting policy, was $ 59,098.16 per Bitcoin, $ 2,923.79 per Ether, $ 122.85 per SOL, $ 31.93 per AVAX, and $ 0.50 per XRP. There are no known events that have occurred that require disclosure other than that which has already been disclosed in these notes to the financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2024
Accounting Policies [Abstract]
Principal Market and Fair Value Determination	Principal Market and Fair Value Determination To determine which market is the Fund’s principal market (or in the absence of a principal market, the most advantageous market) for purposes of calculating the Fund’s net asset value in accordance with U.S. GAAP (“Principal Market NAV”), the Fund follows ASC 820-10, which outlines the application of fair value accounting. ASC 820-10 determines fair value to be the price that would be received for each Fund Component in a current sale, which assumes an orderly transaction between market participants on the measurement date. ASC 820-10 requires the Fund to assume that each Fund Component is sold in its principal market to market participants or, in the absence of a principal market, the most advantageous market. Market participants are defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable, and willing and able to transact. The Fund only receives Fund Components in connection with a creation order from the Authorized Participant (or a Liquidity Provider) and does not itself transact on any Digital Asset Markets. Therefore, the Fund looks to market-based volume and level of activity for Digital Asset Markets. The Authorized Participant(s), or a Liquidity Provider, may transact in a Brokered Market, a Dealer Market, Principal-to-Principal Markets and Exchange Markets (referred to as “Trading Platform Markets” in this Quarterly Report), each as defined in the FASB ASC Master Glossary (collectively, “Digital Asset Markets”). In determining which of the eligible Digital Asset Markets is the Fund’s principal market, the Fund reviews these criteria in the following order: First, the Fund reviews a list of Digital Asset Markets that maintain practices and policies designed to comply with anti-money laundering (“AML”) and know-your-customer (“KYC”) regulations, and non-Digital Asset Trading Platform Markets that the Fund reasonably believes are operating in compliance with applicable law, including federal and state licensing requirements, based upon information and assurances provided to it by each market. Second, the Fund sorts these Digital Asset Markets from high to low by market-based volume and level of activity of each Fund Component traded on each Digital Asset Market in the trailing twelve months. Third, the Fund then reviews pricing fluctuations and the degree of variances in price on Digital Asset Markets to identify any material notable variances that may impact the volume or price information of a particular Digital Asset Market. Fourth, the Fund then selects a Digital Asset Market as its principal market based on the highest market-based volume, level of activity and price stability in comparison to the other Digital Asset Markets on the list. Based on information reasonably available to the Fund, Trading Platform Markets have the greatest volume and level of activity for the Fund Components. The Fund therefore looks to accessible Trading Platform Markets as opposed to the Brokered Market, Dealer Market and Principal-to-Principal Markets to determine its principal market for each Fund Component. As a result of the aforementioned analysis, a Trading Platform Market has been selected as the Fund’s principal market for each Fund Component. The Fund determines its principal market (or in the absence of a principal market the most advantageous market) annually and conducts a quarterly analysis to determine (i) if there have been recent changes to each Digital Asset Market’s trading volume and level of activity in the trailing twelve months, (ii) if any Digital Asset Markets have developed that the Fund has access to, or (iii) if recent changes to each Digital Asset Market’s price stability have occurred that would materially impact the selection of the principal market and necessitate a change in the Fund’s determination of its principal market. The cost basis of each Fund Component received in connection with a creation order is recorded by the Fund at the fair value of such Fund Component at 4:00 p.m., New York time, on the creation date for financial reporting purposes. The cost basis recorded by the Fund may differ from proceeds collected by the Authorized Participant from the sale of the corresponding Shares to investors.
Investment Transactions and Revenue Recognition	Investment Transactions and Revenue Recognition The Fund considers investment transactions to be the receipt of Fund Components for Share creations and the delivery of Fund Components for Share redemptions, the payment of expenses in Fund Components or the sale of Fund Components when the Manager rebalances the Fund’s portfolio. At this time, the Fund is not accepting redemption requests from shareholders. The Fund records its investment transactions on a trade date basis and changes in fair value are reflected as net change in unrealized appreciation or depreciation on investments. Realized gains and losses are calculated using the specific identification method. Realized gains and losses are recognized in connection with transactions including settling obligations for the Manager’s Fee and selling Fund Component(s) when the Manager rebalances the Fund’s portfolio.
Fair Value Measurement	Fair Value Measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the ‘exit price’) in an orderly transaction between market participants at the measurement date. GAAP utilizes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three levels based on the inputs as follows: • Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. Since valuations are based on quoted prices that are readily and regularly available in an active market, these valuations do not entail a significant degree of judgment. • Level 2—Valuations based on quoted prices in markets that are not active or for which significant inputs are observable, either directly or indirectly. • Level 3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The availability of valuation techniques and observable inputs can vary by investment. To the extent that valuations are based on sources that are less observable or unobservable in the market, the determination of fair value requires more judgment. Fair value estimates do not necessarily represent the amounts that may be ultimately realized by the Fund. Fair Value Measurement Using (Amounts in thousands) Amount at Level 1 Level 2 Level 3 March 31, 2024 Assets Investment in Bitcoin $ 423,664 $ 423,664 $ - $ - Investment in Ether 133,179 133,179 - - Investment in SOL 26,104 26,104 - - Investment in XRP 10,336 10,336 - - Investment in ADA 6,972 6,972 - - Investment in AVAX 6,007 6,007 - - $ 606,262 $ 606,262 $ - $ - June 30, 2023 Assets Investment in Bitcoin $ 189,185 $ 189,185 $ - $ - Investment in Ether 75,964 75,964 - - Investment in ADA 3,195 3,195 - - Investment in SOL 2,366 2,366 - - Investment in MATIC 1,922 1,922 - - $ 272,632 $ 272,632 $ - $ -
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”). ASU 2023-08 is intended to improve the accounting for certain crypto assets by requiring an entity to measure those crypto assets at fair value each reporting period with changes in fair value recognized in net income. The amendments also improve the information provided to investors about an entity’s crypto asset holdings by requiring disclosure about significant holdings, contractual sale restrictions, and changes during the reporting period. ASU 2023-08 is effective for annual and interim reporting periods beginning after December 15, 2024. Early adoption is permitted for both interim and annual financial statements that have not yet been issued. The Manager of the Fund is evaluating this new guidance as of March 31, 2024. If the Manager elects to adopt in a subsequent interim period prior to the effective date, such adoption would be reflected retroactive to the beginning of the fiscal year. The Manager does not anticipate any material impact on its financial statements and disclosures as the Fund historically used fair value as its method of accounting for digital assets in accordance with its classification as an investment company for accounting purposes.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Fair Value Estimates	The availability of valuation techniques and observable inputs can vary by investment. To the extent that valuations are based on sources that are less observable or unobservable in the market, the determination of fair value requires more judgment. Fair value estimates do not necessarily represent the amounts that may be ultimately realized by the Fund. Fair Value Measurement Using (Amounts in thousands) Amount at Level 1 Level 2 Level 3 March 31, 2024 Assets Investment in Bitcoin $ 423,664 $ 423,664 $ - $ - Investment in Ether 133,179 133,179 - - Investment in SOL 26,104 26,104 - - Investment in XRP 10,336 10,336 - - Investment in ADA 6,972 6,972 - - Investment in AVAX 6,007 6,007 - - $ 606,262 $ 606,262 $ - $ - June 30, 2023 Assets Investment in Bitcoin $ 189,185 $ 189,185 $ - $ - Investment in Ether 75,964 75,964 - - Investment in ADA 3,195 3,195 - - Investment in SOL 2,366 2,366 - - Investment in MATIC 1,922 1,922 - - $ 272,632 $ 272,632 $ - $ -

Fair Value of Investments in _2

Fair Value of Investments in Digital Assets (Tables)	9 Months Ended
Fair Value of Investments in Digital Assets (Tables)	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Summary of Fair Value of Each Fund Component	The following table represents the fair value of each Fund Component using the price provided at 4:00 p.m., New York time, by the relevant Digital Asset Trading Platform Market considered to be its principal market, as determined by the Fund: Fund Component Principal Market March 31, 2024 June 30, 2023 Bitcoin Coinbase $ 71,026.32 $ 30,361.94 Ether Coinbase $ 3,637.95 $ 1,925.83 SOL (1) Coinbase $ 200.17 $ 19.09 XRP (4) Coinbase $ 0.63 N/A ADA (2) Coinbase $ 0.65 $ 0.29 AVAX (4) Coinbase $ 54.13 N/A MATIC (3)(4) Coinbase N/A $ 0.66 (1) Effective October 1, 2021, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase SOL in accordance with the Fund Construction Criteria. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing. (2) Effective July 1, 2021, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase ADA in accordance with the Fund Construction Criteria. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing. (3) Effective October 5, 2022, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase MATIC in accordance with the DLCS Methodology. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing. (4) Effective January 3, 2024, the Manager removed MATIC from the Fund’s portfolio and used the cash proceeds to purchase Avalanche and XRP and adjusted the existing Fund Components in proportion to their respective weightings in accordance with the DLCS Methodology. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing.
Changes in Quantity of Each Fund Component and Their Respective Fair Values	The following represents the changes in quantity of each Fund Component and their respective fair values: (Amounts in thousands, except Bitcoin amounts) Quantity Fair Value Bitcoin balance at June 30, 2022 6,231.43654040 $ 117,743 Bitcoin contributed - - Bitcoin contributed from portfolio rebalancing 157.11106568 3,049 Bitcoin distributed for Manager’s Fee, related party ( 157.56894422 ) ( 3,549 ) Net change in unrealized appreciation on investment in Bitcoin - 69,386 Net realized gain on investment in Bitcoin - 2,556 Bitcoin balance at June 30, 2023 6,230.97866186 $ 189,185 Bitcoin contributed - - Bitcoin distributed from portfolio rebalancing ( 150.37755071 ) ( 6,910 ) Bitcoin distributed for Manager’s Fee, related party ( 115.71862474 ) ( 4,516 ) Net change in unrealized appreciation on investment in Bitcoin - 236,892 Net realized gain on investment in Bitcoin - 9,013 Bitcoin balance at March 31, 2024 5,964.88248641 $ 423,664 (Amounts in thousands, except Ether amounts) Quantity Fair Value Ether balance at June 30, 2022 39,359.77040671 $ 40,136 Ether contributed - - Ether contributed from portfolio rebalancing 1,087.50823575 1,095 Ether distributed for Manager’s Fee, related party ( 1,002.14597330 ) ( 1,568 ) Net change in unrealized appreciation on investment in Ether - 34,695 Net realized gain on investment in Ether - 1,606 Ether balance at June 30, 2023 39,445.13266916 $ 75,964 Ether contributed - - Ether distributed from portfolio rebalancing ( 2,122.80894251 ) ( 4,426 ) Ether distributed for Manager’s Fee, related party ( 713.89274845 ) ( 1,568 ) Net change in unrealized appreciation on investment in Ether - 58,592 Net realized gain on investment in Ether - 4,617 Ether balance at March 31, 2024 36,608.43097820 $ 133,179 (Amounts in thousands, except SOL amounts) Quantity Fair Value SOL balance at June 30, 2022 111,216.13265694 $ 3,557 SOL contributed - - SOL contributed from portfolio rebalancing 15,665.43529877 384 SOL distributed for Manager’s Fee, related party ( 2,965.67266480 ) ( 73 ) Net change in unrealized depreciation on investment in SOL - ( 1,186 ) Net realized loss on investment in SOL - ( 316 ) SOL balance at June 30, 2023 123,915.89529091 $ 2,366 SOL contributed - - SOL contributed from portfolio rebalancing 8,939.48966974 200 SOL distributed for Manager’s Fee, related party ( 2,448.84355804 ) ( 163 ) Net change in unrealized appreciation on investment in SOL - 23,834 Net realized loss on investment in SOL - ( 133 ) SOL balance at March 31, 2024 130,406.54140261 $ 26,104 (Amounts in thousands, except XRP amounts) Quantity Fair Value XRP balance at June 30, 2023 - $ - XRP contributed - - XRP contributed from portfolio rebalancing 16,538,863.154097 9,656 XRP distributed for Manager’s Fee, related party ( 99,119.119333 ) ( 57 ) Net change in unrealized appreciation on investment in XRP - 738 Net realized loss on investment in XRP - ( 1 ) XRP balance at March 31, 2024 16,439,744.034764 $ 10,336 (Amounts in thousands, except ADA amounts) Quantity Fair Value ADA balance at June 30, 2022 10,916,582.900254 $ 4,803 ADA contributed - - ADA contributed from portfolio rebalancing 559,615.581934 231 ADA distributed for Manager’s Fee, related party ( 281,295.930913 ) ( 108 ) Net change in unrealized depreciation on investment in ADA - ( 1,401 ) Net realized loss on investment in ADA - ( 330 ) ADA balance at June 30, 2023 11,194,902.551275 $ 3,195 ADA contributed - - ADA distributed from portfolio rebalancing ( 216,560.642532 ) ( 149 ) ADA distributed for Manager’s Fee, related party ( 208,542.548429 ) ( 88 ) Net change in unrealized appreciation on investment in ADA - 4,461 Net realized loss on investment in ADA - ( 447 ) ADA balance at March 31, 2024 10,769,799.360314 $ 6,972 (Amounts in thousands, except AVAX amounts) Quantity Fair Value AVAX balance at June 30, 2022 88,973.97836461 $ 1,445 AVAX contributed - - AVAX distributed from portfolio rebalancing ( 87,745.50702693 ) ( 974 ) AVAX distributed for Manager’s Fee, related party ( 1,228.47133768 ) ( 21 ) Net change in unrealized appreciation on investment in AVAX - 6,936 Net realized loss on investment in AVAX - ( 7,386 ) AVAX balance at June 30, 2023 - $ - AVAX contributed - - AVAX contributed from portfolio rebalancing 111,647.44818623 4,115 AVAX distributed for Manager’s Fee, related party ( 669.11471711 ) ( 28 ) Net change in unrealized appreciation on investment in AVAX - 1,917 Net realized gain on investment in AVAX - 3 AVAX balance at March 31, 2024 110,978.33346912 $ 6,007 (Amounts in thousands, except MATIC amounts) Quantity Fair Value MATIC balance at June 30, 2022 - $ - MATIC contributed - - MATIC contributed from portfolio rebalancing 2,979,195.20726440 2,524 MATIC distributed for Manager’s Fee, related party ( 53,165.59406116 ) ( 51 ) Net change in unrealized depreciation on investment in MATIC - ( 565 ) Net realized gain on investment in MATIC - 14 MATIC balance at June 30, 2023 2,926,029.61320324 $ 1,922 MATIC contributed - - MATIC distributed from portfolio rebalancing ( 2,887,850.26244458 ) ( 2,486 ) MATIC distributed for Manager’s Fee, related party ( 38,179.35075866 ) ( 26 ) Net change in unrealized appreciation on investment in MATIC - 565 Net realized gain on investment in MATIC - 25 MATIC balance at March 31, 2024 - $ - (Amounts in thousands, except DOT amounts) Quantity Fair Value DOT balance at June 30, 2022 328,187.49357863 $ 2,235 DOT contributed - - DOT distributed from portfolio rebalancing ( 328,052.64509826 ) ( 2,247 ) DOT distributed for Manager’s Fee, related party ( 134.84848037 ) ( 1 ) Net change in unrealized appreciation on investment in DOT - 5,103 Net realized loss on investment in DOT - ( 5,090 ) DOT balance at June 30, 2023 - $ - (Amounts in thousands, except LTC amounts) Quantity Fair Value LTC balance at June 30, 2022 23,725.08718334 $ 1,220 LTC contributed - - LTC distributed from portfolio rebalancing ( 23,715.33881688 ) ( 1,177 ) LTC distributed for Manager’s Fee, related party ( 9.74836646 ) ( 1 ) Net change in unrealized appreciation on investment in LTC - 574 Net realized loss on investment in LTC - ( 616 ) LTC balance at June 30, 2023 - $ - (Amounts in thousands, except UNI amounts) Quantity Fair Value UNI balance at June 30, 2022 232,687.02308212 $ 1,122 UNI contributed - - UNI distributed from portfolio rebalancing ( 232,591.41465073 ) ( 1,236 ) UNI distributed for Manager’s Fee, related party ( 95.60843139 ) - Net change in unrealized appreciation on investment in UNI - 3,937 Net realized loss on investment in UNI - ( 3,823 ) UNI balance at June 30, 2023 - $ - (Amounts in thousands, except LINK amounts) Quantity Fair Value LINK balance at June 30, 2022 158,987.59087114 $ 960 LINK contributed - - LINK distributed from portfolio rebalancing ( 158,922.26469191 ) ( 989 ) LINK distributed for Manager’s Fee, related party ( 65.32617923 ) ( 1 ) Net change in unrealized appreciation on investment in LINK - 3,726 Net realized loss on investment in LINK - ( 3,696 ) LINK balance at June 30, 2023 - $ - (Amounts in thousands, except BCH amounts) Quantity Fair Value BCH balance at June 30, 2022 6,314.20828653 $ 631 BCH contributed - - BCH distributed from portfolio rebalancing ( 6,311.61385070 ) ( 660 ) BCH distributed for Manager’s Fee, related party ( 2.59443583 ) - Net change in unrealized appreciation on investment in BCH - 1,662 Net realized loss on investment in BCH - ( 1,633 ) BCH balance at June 30, 2023 - $ -

Financial Highlights Per Shar_2

Financial Highlights Per Share Performance (Tables)	9 Months Ended
Financial Highlights Per Share Performance (Tables)	Mar. 31, 2024
Investment Company, Financial Highlights [Abstract]
Summary of Per Share Data	Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Per Share Data: Principal market net asset value, beginning of period $ 23.56 $ 10.01 $ 17.18 $ 10.96 Net increase in net assets from investment operations: Net investment loss ( 0.18 ) ( 0.08 ) ( 0.41 ) ( 0.24 ) Net realized and unrealized gain 14.83 6.55 21.44 5.76 Net increase in net assets resulting from operations 14.65 6.47 21.03 5.52 Principal market net asset value, end of period $ 38.21 $ 16.48 $ 38.21 $ 16.48 Total return 62.18 % 64.64 % 122.41 % 50.36 % Ratios to average net assets: Net investment loss - 2.50 % - 2.50 % - 2.50 % - 2.50 % Expenses - 2.50 % - 2.50 % - 2.50 % - 2.50 %

Organization - Additional Infor

Organization - Additional Information - (Details)	Mar. 31, 2024 shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common units issued, minimum basket	100

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Summary of Fair Value Estimates (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2022
Assets
Fair Value	$ 606,262	$ 272,632
Investment in Bitcoin
Assets
Fair Value	423,664	189,185
Investment in Ether
Assets
Fair Value	133,179	75,964
Investment in SOL
Assets
Fair Value	26,104	2,366
Investment in XRP
Assets
Fair Value	10,336
Investment in ADA
Assets
Fair Value	6,972	3,195
Investment in AVAX
Assets
Fair Value	6,007
investment in MATIC
Assets
Fair Value	0	1,922	$ 0
Level 1
Assets
Fair Value	606,262	272,632
Level 1 \| Investment in Bitcoin
Assets
Fair Value	423,664	189,185
Level 1 \| Investment in Ether
Assets
Fair Value	133,179	75,964
Level 1 \| Investment in SOL
Assets
Fair Value	26,104	2,366
Level 1 \| Investment in XRP
Assets
Fair Value	10,336
Level 1 \| Investment in ADA
Assets
Fair Value	6,972	3,195
Level 1 \| Investment in AVAX
Assets
Fair Value	6,007
Level 1 \| investment in MATIC
Assets
Fair Value		1,922
Level 2
Assets
Fair Value	0	0
Level 2 \| Investment in Bitcoin
Assets
Fair Value	0	0
Level 2 \| Investment in Ether
Assets
Fair Value	0	0
Level 2 \| Investment in SOL
Assets
Fair Value	0	0
Level 2 \| Investment in XRP
Assets
Fair Value	0
Level 2 \| Investment in ADA
Assets
Fair Value	0	0
Level 2 \| Investment in AVAX
Assets
Fair Value	0
Level 2 \| investment in MATIC
Assets
Fair Value		0
Level 3
Assets
Fair Value	0	0
Level 3 \| Investment in Bitcoin
Assets
Fair Value	0	0
Level 3 \| Investment in Ether
Assets
Fair Value	0	0
Level 3 \| Investment in SOL
Assets
Fair Value	0	0
Level 3 \| Investment in XRP
Assets
Fair Value	0
Level 3 \| Investment in ADA
Assets
Fair Value	0	0
Level 3 \| Investment in AVAX
Assets
Fair Value	$ 0
Level 3 \| investment in MATIC
Assets
Fair Value		$ 0

Fair Value of Investments in _3

Fair Value of Investments in Digital Assets - Summary of Fair Value of Each Fund Component (Details) - $ / shares		Mar. 31, 2024	Jun. 30, 2023
Bitcoin
Summary Of Investment Holdings [Line Items]
Fair value of investments per share		$ 71,026.32	$ 30,361.94
Ether
Summary Of Investment Holdings [Line Items]
Fair value of investments per share		3,637.95	1,925.83
SOL
Summary Of Investment Holdings [Line Items]
Fair value of investments per share	[1]	200.17	19.09
XRP
Summary Of Investment Holdings [Line Items]
Fair value of investments per share	[2]	0.63
ADA
Summary Of Investment Holdings [Line Items]
Fair value of investments per share	[3]	0.65	0.29
AVAX
Summary Of Investment Holdings [Line Items]
Fair value of investments per share	[2]	$ 54.13
MATIC
Summary Of Investment Holdings [Line Items]
Fair value of investments per share	[4]		$ 0.66

[1] Effective October 1, 2021, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase SOL in accordance with the Fund Construction Criteria. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing. Effective July 1, 2021, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase ADA in accordance with the Fund Construction Criteria. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing. Effective October 5, 2022, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase MATIC in accordance with the DLCS Methodology. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing.

Fair Value of Investments in _4

Fair Value of Investments in Digital Assets - Changes in Quantity of Each Fund Component and Their Respective Fair Values (Details)												3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 04, 2024 USD ($)	Oct. 04, 2023 USD ($)	Jul. 06, 2023 USD ($)	Apr. 05, 2023 USD ($)	Jan. 05, 2023 USD ($)	Oct. 05, 2022 USD ($)	Jul. 07, 2022 USD ($)	Apr. 05, 2022 USD ($)	Oct. 01, 2021 USD ($)	Jul. 01, 2021 USD ($)	Apr. 02, 2021 USD ($)	Mar. 31, 2024 USD ($) Quantity	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($) Quantity	Mar. 31, 2023 USD ($) Quantity	Jun. 30, 2023 USD ($) Quantity
Summary Of Investment Holdings [Line Items]
Balance at Fair Value														$ 272,632,000
Net change in unrealized appreciation (depreciation) on investments in digital assets												$ 225,325,000	$ 110,821,000	326,999,000	$ 111,177,000
Net realized gain (loss) on investment	$ 7,968,963	$ 149,939	$ 906,943	$ 227,762	$ (7,304,129)	$ 1,133,040	$ (14,895,069)	$ 12,437,503	$ 14,980,028	$ 11,651,902	$ 4,398,884	10,033,000	$ (6,745,000)	13,077,000	$ (19,769,000)
Balance at Fair Value												$ 606,262,000		$ 606,262,000		$ 272,632,000
Bitcoin
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														6,230.97866186	6,231.4365404	6,231.4365404
Quantity contributed \| Quantity														0		0
Quantity contributed from portfolio rebalancing \| Quantity														(150.37755071)		157.11106568
Quantity distributed for Manager's Fee, related party \| Quantity														(115.71862474)		(157.56894422)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity														0		0
Quantity, Net realized gain (loss) on investment \| Quantity														0		0
Quantity, Balance \| Quantity												5,964.88248641		5,964.88248641		6,230.97866186
Balance at Fair Value														$ 189,185,000	$ 117,743,000	$ 117,743,000
Fair Value, contributed														0		0
Fair value, contributed from portfolio rebalancing														(6,910,000)		3,049,000
Fair Value, distributed for Manager's Fee, related party														(4,516,000)		(3,549,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets														236,892,000		69,386,000
Net realized gain (loss) on investment														9,013,000		2,556,000
Balance at Fair Value												$ 423,664,000		$ 423,664,000		$ 189,185,000
Ether
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														39,445.13266916	39,359.77040671	39,359.77040671
Quantity contributed \| Quantity														0		0
Quantity distributed from portfolio rebalancing \| Quantity														(2,122.80894251)
Quantity contributed from portfolio rebalancing \| Quantity																1,087.50823575
Quantity distributed for Manager's Fee, related party \| Quantity														(713.89274845)		(1,002.1459733)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity														0		0
Quantity, Net realized gain (loss) on investment \| Quantity														0		0
Quantity, Balance \| Quantity												36,608.4309782		36,608.4309782		39,445.13266916
Balance at Fair Value														$ 75,964,000	$ 40,136,000	$ 40,136,000
Fair Value, contributed														0		0
Fair value, distributed from portfolio rebalancing														(4,426,000)
Fair value, contributed from portfolio rebalancing																1,095,000
Fair Value, distributed for Manager's Fee, related party														(1,568,000)		(1,568,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets														58,592,000		34,695,000
Net realized gain (loss) on investment														4,617,000		1,606,000
Balance at Fair Value												$ 133,179,000		$ 133,179,000		$ 75,964,000
SOL
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														123,915.89529091	111,216.13265694	111,216.13265694
Quantity contributed \| Quantity														0		0
Quantity contributed from portfolio rebalancing \| Quantity														8,939.48966974		15,665.43529877
Quantity distributed for Manager's Fee, related party \| Quantity														(2,448.84355804)		(2,965.6726648)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity														0		0
Quantity, Net realized gain (loss) on investment \| Quantity														0		0
Quantity, Balance \| Quantity												130,406.54140261		130,406.54140261		123,915.89529091
Balance at Fair Value														$ 2,366,000	$ 3,557,000	$ 3,557,000
Fair Value, contributed														0		0
Fair value, contributed from portfolio rebalancing														200,000		384,000
Fair Value, distributed for Manager's Fee, related party														(163,000)		(73,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets														23,834,000		(1,186,000)
Net realized gain (loss) on investment														(133,000)		(316,000)
Balance at Fair Value												$ 26,104,000		$ 26,104,000		$ 2,366,000
XRP
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														0
Quantity contributed \| Quantity														0
Quantity contributed from portfolio rebalancing \| Quantity														16,538,863.154097
Quantity distributed for Manager's Fee, related party \| Quantity														(99,119.119333)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity														0
Quantity, Net realized gain (loss) on investment \| Quantity														0
Quantity, Balance \| Quantity												16,439,744.034764		16,439,744.034764		0
Balance at Fair Value														$ 0
Fair Value, contributed														0
Fair value, contributed from portfolio rebalancing														9,656,000
Fair Value, distributed for Manager's Fee, related party														(57,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets														738,000
Net realized gain (loss) on investment														(1,000)
Balance at Fair Value												$ 10,336,000		$ 10,336,000		$ 0
ADA
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														11,194,902.551275	10,916,582.900254	10,916,582.900254
Quantity contributed \| Quantity														0		0
Quantity contributed from portfolio rebalancing \| Quantity														(216,560.642532)		559,615.581934
Quantity distributed for Manager's Fee, related party \| Quantity														(208,542.548429)		(281,295.930913)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity														0		0
Quantity, Net realized gain (loss) on investment \| Quantity														0		0
Quantity, Balance \| Quantity												10,769,799.360314		10,769,799.360314		11,194,902.551275
Balance at Fair Value														$ 3,195,000	$ 4,803,000	$ 4,803,000
Fair Value, contributed														0		0
Fair value, contributed from portfolio rebalancing														(149,000)		231,000
Fair Value, distributed for Manager's Fee, related party														(88,000)		(108,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets														4,461,000		(1,401,000)
Net realized gain (loss) on investment														(447,000)		(330,000)
Balance at Fair Value												$ 6,972,000		$ 6,972,000		$ 3,195,000
AVAX
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														0	88,973.97836461	88,973.97836461
Quantity contributed \| Quantity														0		0
Quantity contributed from portfolio rebalancing \| Quantity														111,647.44818623		(87,745.50702693)
Quantity distributed for Manager's Fee, related party \| Quantity														(669.11471711)		(1,228.47133768)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity														0		0
Quantity, Net realized gain (loss) on investment \| Quantity														0		0
Quantity, Balance \| Quantity												110,978.33346912		110,978.33346912		0
Balance at Fair Value														$ 0	$ 1,445,000	$ 1,445,000
Fair Value, contributed														0		0
Fair value, contributed from portfolio rebalancing														4,115,000		(974,000)
Fair Value, distributed for Manager's Fee, related party														(28,000)		(21,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets														1,917,000		6,936,000
Net realized gain (loss) on investment														3,000		(7,386,000)
Balance at Fair Value												$ 6,007,000		$ 6,007,000		$ 0
MATIC
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														2,926,029.61320324	0	0
Quantity contributed \| Quantity														0		0
Quantity contributed from portfolio rebalancing \| Quantity														(2,887,850.26244458)		2,979,195.2072644
Quantity distributed for Manager's Fee, related party \| Quantity														(38,179.35075866)		(53,165.59406116)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity														0		0
Quantity, Net realized gain (loss) on investment \| Quantity														0		0
Quantity, Balance \| Quantity												0		0		2,926,029.61320324
Balance at Fair Value														$ 1,922,000	$ 0	$ 0
Fair Value, contributed														0		0
Fair value, contributed from portfolio rebalancing														(2,486,000)		2,524,000
Fair Value, distributed for Manager's Fee, related party														(26,000)		(51,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets														565,000		(565,000)
Net realized gain (loss) on investment														25,000		14,000
Balance at Fair Value												$ 0		$ 0		$ 1,922,000
DOT
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														0	328,187.49357863	328,187.49357863
Quantity contributed \| Quantity																0
Quantity distributed from portfolio rebalancing \| Quantity																(328,052.64509826)
Quantity distributed for Manager's Fee, related party \| Quantity																(134.84848037)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity																0
Quantity, Net realized gain (loss) on investment \| Quantity																0
Quantity, Balance \| Quantity																0
Balance at Fair Value														$ 0	$ 2,235,000	$ 2,235,000
Fair Value, contributed																0
Fair value, distributed from portfolio rebalancing																(2,247,000)
Fair Value, distributed for Manager's Fee, related party																(1,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets																5,103,000
Net realized gain (loss) on investment																(5,090,000)
Balance at Fair Value																$ 0
LTC
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														0	23,725.08718334	23,725.08718334
Quantity contributed \| Quantity																0
Quantity distributed from portfolio rebalancing \| Quantity																(23,715.33881688)
Quantity distributed for Manager's Fee, related party \| Quantity																(9.74836646)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity																0
Quantity, Net realized gain (loss) on investment \| Quantity																0
Quantity, Balance \| Quantity																0
Balance at Fair Value														$ 0	$ 1,220,000	$ 1,220,000
Fair Value, contributed																0
Fair value, distributed from portfolio rebalancing																(1,177,000)
Fair Value, distributed for Manager's Fee, related party																(1,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets																574,000
Net realized gain (loss) on investment																(616,000)
Balance at Fair Value																$ 0
UNI
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														0	232,687.02308212	232,687.02308212
Quantity contributed \| Quantity																0
Quantity distributed from portfolio rebalancing \| Quantity																(232,591.41465073)
Quantity distributed for Manager's Fee, related party \| Quantity																(95.60843139)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity																0
Quantity, Net realized gain (loss) on investment \| Quantity																0
Quantity, Balance \| Quantity																0
Balance at Fair Value														$ 0	$ 1,122,000	$ 1,122,000
Fair Value, contributed																0
Fair value, distributed from portfolio rebalancing																(1,236,000)
Fair Value, distributed for Manager's Fee, related party																0
Net change in unrealized appreciation (depreciation) on investments in digital assets																3,937,000
Net realized gain (loss) on investment																(3,823,000)
Balance at Fair Value																$ 0
LINK
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														0	158,987.59087114	158,987.59087114
Quantity contributed \| Quantity																0
Quantity distributed from portfolio rebalancing \| Quantity																(158,922.26469191)
Quantity distributed for Manager's Fee, related party \| Quantity																(65.32617923)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity																0
Quantity, Net realized gain (loss) on investment \| Quantity																0
Quantity, Balance \| Quantity																0
Balance at Fair Value														$ 0	$ 960,000	$ 960,000
Fair Value, contributed																0
Fair value, distributed from portfolio rebalancing																(989,000)
Fair Value, distributed for Manager's Fee, related party																(1,000)
Net change in unrealized appreciation (depreciation) on investments in digital assets																3,726,000
Net realized gain (loss) on investment																(3,696,000)
Balance at Fair Value																$ 0
BCH
Summary Of Investment Holdings [Line Items]
Quantity, Balance \| Quantity														0	6,314.20828653	6,314.20828653
Quantity contributed \| Quantity																0
Quantity distributed from portfolio rebalancing \| Quantity																(6,311.6138507)
Quantity distributed for Manager's Fee, related party \| Quantity																(2.59443583)
Quantity net change in unrealized (depreciation) appreciation on investment \| Quantity																0
Quantity, Net realized gain (loss) on investment \| Quantity																0
Quantity, Balance \| Quantity																0
Balance at Fair Value														$ 0	$ 631,000	$ 631,000
Fair Value, contributed																0
Fair value, distributed from portfolio rebalancing																(660,000)
Fair Value, distributed for Manager's Fee, related party																0
Net change in unrealized appreciation (depreciation) on investments in digital assets																1,662,000
Net realized gain (loss) on investment																(1,633,000)
Balance at Fair Value																$ 0

Portfolio Rebalancing - Additio

Portfolio Rebalancing - Additional Information (Details)																																																																																						3 Months Ended		9 Months Ended
Portfolio Rebalancing - Additional Information (Details)	Jan. 04, 2024 USD ($)	Jan. 04, 2024 Bitcoin	Jan. 04, 2024 Ethereum	Jan. 04, 2024 Cardano	Jan. 04, 2024 Solana	Jan. 04, 2024 Avalanche	Jan. 04, 2024 Polygon	Jan. 04, 2024 Ripple	Oct. 04, 2023 USD ($)	Oct. 04, 2023 Bitcoin	Oct. 04, 2023 Ethereum	Oct. 04, 2023 Cardano	Oct. 04, 2023 Solana	Oct. 04, 2023 Polygon	Jul. 06, 2023 USD ($)	Jul. 06, 2023 Bitcoin	Jul. 06, 2023 Ethereum	Jul. 06, 2023 Cardano	Jul. 06, 2023 Solana	Jul. 06, 2023 Polygon	Apr. 05, 2023 USD ($)	Apr. 05, 2023 Bitcoin	Apr. 05, 2023 Ethereum	Apr. 05, 2023 Cardano	Apr. 05, 2023 Solana	Apr. 05, 2023 Polygon	Jan. 05, 2023 USD ($)	Jan. 05, 2023 Bitcoin	Jan. 05, 2023 Ethereum	Jan. 05, 2023 Cardano	Jan. 05, 2023 Solana	Jan. 05, 2023 Avalanche	Jan. 05, 2023 Polygon	Oct. 05, 2022 USD ($)	Oct. 05, 2022 Bitcoin	Oct. 05, 2022 Ethereum	Oct. 05, 2022 Cardano	Oct. 05, 2022 Solana	Oct. 05, 2022 Avalanche	Oct. 05, 2022 Polygon	Jul. 07, 2022 USD ($)	Jul. 07, 2022 Bitcoin	Jul. 07, 2022 BitcoinCash	Jul. 07, 2022 Ethereum	Jul. 07, 2022 Litecoin	Jul. 07, 2022 Chainlink	Jul. 07, 2022 Cardano	Jul. 07, 2022 Solana	Jul. 07, 2022 Uniswap	Jul. 07, 2022 Avalanche	Jul. 07, 2022 Polkadot	Jul. 01, 2022	Apr. 05, 2022 USD ($)	Apr. 05, 2022 Bitcoin	Apr. 05, 2022 BitcoinCash	Apr. 05, 2022 Ethereum	Apr. 05, 2022 Litecoin	Apr. 05, 2022 Chainlink	Apr. 05, 2022 Cardano	Apr. 05, 2022 Solana	Apr. 05, 2022 Uniswap	Apr. 05, 2022 Avalanche	Apr. 05, 2022 Polkadot	Oct. 01, 2021 USD ($)	Oct. 01, 2021 Bitcoin	Oct. 01, 2021 BitcoinCash	Oct. 01, 2021 Ethereum	Oct. 01, 2021 Litecoin	Oct. 01, 2021 Chainlink	Oct. 01, 2021 Cardano	Oct. 01, 2021 Solana	Oct. 01, 2021 Uniswap	Jul. 01, 2021 USD ($)	Jul. 01, 2021 Bitcoin	Jul. 01, 2021 BitcoinCash	Jul. 01, 2021 Ethereum	Jul. 01, 2021 Litecoin	Jul. 01, 2021 Chainlink	Jul. 01, 2021 Cardano	Apr. 02, 2021 USD ($)	Apr. 02, 2021 Bitcoin	Apr. 02, 2021 BitcoinCash	Apr. 02, 2021 Ethereum	Apr. 02, 2021 Litecoin	Apr. 02, 2021 Chainlink	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Portfolio Rebalancing [Line Items]
Minimum percentage of market capitalization in digital asset market																																																				70%
Net realized gain (loss) on investments in digital assets	$ 7,968,963								$ 149,939						$ 906,943						$ 227,762						$ (7,304,129)							$ 1,133,040							$ (14,895,069)												$ 12,437,503											$ 14,980,028									$ 11,651,902							$ 4,398,884						$ 10,033,000	$ (6,745,000)	$ 13,077,000	$ (19,769,000)
Sale of portfolio quantity		189.5261282	1,345.61184068	318,034.153332			2,959,008.43244458				131.74			9,814.74			645.45710183						165.7910019									96,557.16902347			98.97782869	363.52443217	54,505.665215						6,311.6138507		23,715.33881688	158,922.26469191			232,591.41465073		328,052.64509826			299.1235696	525.9622208	799.4496922			471,808.633						431.1877932	312.6826491	568.9034008	1,332.295291	4,669.367651					225.33929087	68.33481591	3,622.13172739	722.93691458				90.96800168	58.85027824
Purchase of portfolio quantity					111.26066974	111,647.44818623		16,538,863.154097		4.6033		19,528.1308	3,893.979			34.54527749		81,945.38	4,934.25	80,972.91		2.597609		28,762.28047849	5,273.27942925	99,343.42747559		53.65562532	108.99277511	133,890.687195	4,362.39069485		143.42553998					1,776.60193605	3,070.74446103	2,879,708.35424883		199.83559815		1,507.83089471			451,468.27947474	4,253.16323862		5,714.46623435							154.01722821	600.38311024		7,207.59678111	23,446.19411389	89,505.76684675	330,149.03708006							393,666.736667	106,015.34887688	213,332.22308637						13,460.14709855	11,256,632.5338714				381.07775172	5.31504341	154,021.4982997
Minimum
Portfolio Rebalancing [Line Items]
Portfolio rebalancing period																																																																																								1 day
Maximum
Portfolio Rebalancing [Line Items]
Portfolio rebalancing period																																																																																								5 days

Creations and Redemptions of _2

Creations and Redemptions of Shares - Additional Information (Details) - TokenPerShare	Mar. 31, 2024	Jun. 30, 2023
Bitcoin
Creations And Redemptions Of Shares [Line Items]
Fund portfolio share represented	0.0004	0.0004
Ether
Creations And Redemptions Of Shares [Line Items]
Fund portfolio share represented	0.0023	0.0025
SOL
Creations And Redemptions Of Shares [Line Items]
Fund portfolio share represented	0.0082	0.0078
MATIC
Creations And Redemptions Of Shares [Line Items]
Fund portfolio share represented		0.1844
ADA
Creations And Redemptions Of Shares [Line Items]
Fund portfolio share represented	0.6787	0.7055
AVAX
Creations And Redemptions Of Shares [Line Items]
Fund portfolio share represented	0.007
XRP
Creations And Redemptions Of Shares [Line Items]
Fund portfolio share represented	1.0361

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	9 Months Ended
Income Taxes - Additional Information (Details)	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Federal income tax rate	21%

Related Parties - Additional In

Related Parties - Additional Information (Details)		3 Months Ended		9 Months Ended
Related Parties - Additional Information (Details)	Mar. 02, 2022 USD ($)	Mar. 31, 2024 USD ($) ForkedAsset shares	Mar. 31, 2023 USD ($) ForkedAsset	Mar. 31, 2024 USD ($) ForkedAsset shares	Mar. 31, 2023 USD ($) ForkedAsset	Jun. 30, 2023 USD ($) shares
Related Party Transaction [Line Items]
Shares of the fund, held by related parties \| shares		1,054,987		1,054,987		1,213,437
Number of forked assets distributed in payment of manager's fee \| ForkedAsset		0	0	0	0
Accrued and unpaid manager's fees		$ 0		$ 0		$ 0
Additional fund expenses paid by manager		$ 0	$ 0	$ 0	$ 0
Manager's Parent \| Coinbase Inc \| Maximum
Related Party Transaction [Line Items]
Percentage of minority interest owned		1%		1%
Manager
Related Party Transaction [Line Items]
Related party manager fee percentage				2.50%
Related Party Transaction Purchases From Related Party	$ 200,000,000
Manager \| Maximum
Related Party Transaction [Line Items]
Related party transaction in a fiscal year				$ 600,000
Non Sponsor Paid Expenses \| Minimum
Related Party Transaction [Line Items]
Related party transaction in a fiscal year				600,000
Sponsor
Related Party Transaction [Line Items]
Manager's fees incurred		$ 2,883,172	$ 1,337,080	$ 6,445,982	$ 3,766,376

Risks and Uncertainties - Addit

Risks and Uncertainties - Additional Information (Details) $ in Billions	9 Months Ended
	Mar. 31, 2024 USD ($)	Feb. 03, 2022 Ethereum
Risks and Uncertainties [Abstract]
Complaint filed against promoters for XRP sales, amount \| $	$ 1.3
Transfer Of Digital Assets \| Ethereum		120,000
Risks and uncertainties, description	As with any computer network, digital asset networks are vulnerable to various kinds of attacks and disruptions. For example, each digital asset network of the Fund Components, for which it is relevant, is vulnerable to a “51% attack” where, if a malicious actor were to gain control of more than 50% of a network’s hash rate, it would be able to gain full control of the network and the ability to manipulate the relevant blockchains on which the respective Fund Components settle. In May 2019, the Bitcoin Cash network experienced a 51% attack when two mining pools combined their hash rates to reverse a block of transactions that rewarded tokens to an unknown actor who had taken advantage of an unrelated vulnerability in the Bitcoin Cash network. The Fund did not suffer any direct losses as a result of the attack. Although this particular attack could be interpreted as reversing a separate attack on the Bitcoin Cash network, the Bitcoin Cash network may be vulnerable to future 51% attacks that could result in a loss of confidence in the Bitcoin Cash network.

Financial Highlights Per Shar_3

Financial Highlights Per Share Performance - Summary of Per Share Data (Details) - $ / shares	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Per Share Data:
Principal market net asset value, beginning of period	$ 23.56	$ 10.01	$ 17.18	$ 10.96
Net increase in net assets from investment operations:
Net investment loss	(0.18)	(0.08)	(0.41)	(0.24)
Net realized and unrealized gain	14.83	6.55	21.44	5.76
Net increase in net assets resulting from operations	14.65	6.47	21.03	5.52
Principal market net asset value, end of period	$ 38.21	$ 16.48	$ 38.21	$ 16.48
Total return	62.18%	64.64%	122.41%	50.36%
Ratios to average net assets:
Net investment loss	(2.50%)	(2.50%)	(2.50%)	(2.50%)
Expenses	(2.50%)	(2.50%)	(2.50%)	(2.50%)

Subsequent Events - Additional

Subsequent Events - Additional Information (Details)		Apr. 30, 2024 $ / shares	Apr. 03, 2024 TokenPerShare	Mar. 31, 2024 TokenPerShare $ / shares	Jun. 30, 2023 TokenPerShare $ / shares
Bitcoin
Subsequent Event [Line Items]
Fund Portfolio Share Equivalents \| TokenPerShare				0.0004	0.0004
Fair value of investments per share				$ 71,026.32	$ 30,361.94
Ether
Subsequent Event [Line Items]
Fund Portfolio Share Equivalents \| TokenPerShare				0.0023	0.0025
Fair value of investments per share				$ 3,637.95	$ 1,925.83
SOL
Subsequent Event [Line Items]
Fund Portfolio Share Equivalents \| TokenPerShare				0.0082	0.0078
Fair value of investments per share	[1]			$ 200.17	$ 19.09
XRP
Subsequent Event [Line Items]
Fair value of investments per share	[2]			$ 0.63
ADA
Subsequent Event [Line Items]
Fund Portfolio Share Equivalents \| TokenPerShare				0.6787	0.7055
Fair value of investments per share	[3]			$ 0.65	$ 0.29
AVAX
Subsequent Event [Line Items]
Fund Portfolio Share Equivalents \| TokenPerShare				0.007
Fair value of investments per share	[2]			$ 54.13
Subsequent Event
Subsequent Event [Line Items]
Subsequent event, date		Apr. 30, 2024
Subsequent Event \| Bitcoin
Subsequent Event [Line Items]
Percentage of fund components basket			70.96%
Fund Portfolio Share Equivalents \| TokenPerShare			0.0004
Fair value of investments per share		$ 59,098.16
Subsequent Event \| Ether
Subsequent Event [Line Items]
Percentage of fund components basket			21.84%
Fund Portfolio Share Equivalents \| TokenPerShare			0.0023
Fair value of investments per share		2,923.79
Subsequent Event \| SOL
Subsequent Event [Line Items]
Percentage of fund components basket			4.52%
Fund Portfolio Share Equivalents \| TokenPerShare			0.0086
Fair value of investments per share		122.85
Subsequent Event \| XRP
Subsequent Event [Line Items]
Percentage of fund components basket			1.73%
Fund Portfolio Share Equivalents \| TokenPerShare			1.06
Fair value of investments per share		0.5
Subsequent Event \| AVAX
Subsequent Event [Line Items]
Percentage of fund components basket			0.95%
Fund Portfolio Share Equivalents \| TokenPerShare			0.0073
Fair value of investments per share		$ 31.93

[1] Effective October 1, 2021, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase SOL in accordance with the Fund Construction Criteria. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing. Effective July 1, 2021, the Manager adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase ADA in accordance with the Fund Construction Criteria. See Note 5. Portfolio Rebalancing for a description of the portfolio rebalancing.