Net assets increased to $11.75 million as of March 31, 2026, compared to $7.97 million at year-end 2025. The Trust recorded a net increase in assets from operations of $3.06 million for the quarter. The price of TAO appreciated from $220.32 at December 31, 2025, to $306.80 at March 31, 2026. Shares outstanding increased to 2,002,800 from 1,881,500 during the quarter. The Trust continues to operate as a passive investment vehicle with no redemption program currently in place.