The closing parentheses on extra lines don’t really help with seeing the structure of the code, because you can get the same information from the level of indentation. However, the second form takes up almost twice as many lines, forcing you to scroll more often when reading code.
And if you need to inspect the nested parentheses more closely, an editor that highlights the matching parenthesis will help you. This will also be easier when the matching parenthesis is not too far away.
If expressions get too long and complicated to be easily read, it may also be a sign that you should extract part of the functionality into a separate function.