21Shares Core Ethereum ETF (TETH), launched and managed by 21Shares US LLC, is an exchange-traded fund domiciled in the United States that provides investors with exposure to ether (ETH), the second-largest cryptocurrency by market capitalization, by tracking the performance of the CME CF Ether-Dollar Reference Rate - New York Variant, adjusted for expenses and liabilities while reflecting staking rewards from a portion of its spot ether holdings maintained in cold storage custody. The fund, part of 21Shares' broader portfolio of physically backed exchange-traded products (ETPs) including single-asset offerings such as Bitcoin Core ETP, Ethereum Staking ETP, Solana Staking ETP, and diversified indices like Crypto Basket 10 Core ETP and Bitcoin Ethereum Core ETP, as well as staking and smart index products, targets institutional and retail investors seeking streamlined cryptocurrency access through familiar brokerage structures without direct management of digital assets. Founded in 2018 and headquartered in Zurich, Switzerland, with additional offices in New York and London, 21Shares operates globally across Europe, the US, and other regions to deliver crypto investment solutions focused on major assets like Bitcoin, Ethereum, Solana, XRP, and emerging tokens. In a major strategic development, FalconX, a leading institutional digital asset prime brokerage, agreed to acquire 21Shares in October 2025 and completed the transaction in November 2025, combining 21Shares' product development and distribution strengths with FalconX's trading, credit, and risk-management infrastructure to enhance regulated digital asset exposure for growing institutional and retail demand.