Unable to restore TDE enabled database when MAXTRANSFERSIZE and CHECKSUM is used
I was able to reproduce your problem.  

Adding FORMAT to the BACKUP command solved it for me.

While I can't seem to find concrete documentation, it's my opinion that this is related to the fact that INIT retains the existing media header on the backup set while FORMAT creates a new media header.

I'm still researching this issue and if I find additional information, I will update this answer.