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AETH

GradeBNew York Stock Exchange Arca

Bitwise Trendwise Ether and Treasuries Rotation Strategy ETF

Crypto derivatives · Crypto · Bitwise · Inception 2023-09-29

This fund gets its cryptocurrency exposure through futures contracts rather than holding coins directly. Futures-based returns can differ from the spot price of the coin.

$38.64+0.00 (+0.00%)

As of Sep 23, 2026, 9:46 AM EDT

Market opens at 9:30 AM ET.History starts Oct 3, 2023.
Intraday session: up, 23 prints from 37.29 to 38.64. Range 37.22 to 38.73. Use the arrow keys to read each point.$37.50$38.00Sep 17Sep 18Sep 21Sep 22Sep 23
Expense ratio
1.08%
Fund size
$7M
1Y return
−17.1%
Yield · Last 12 months
2.25%
Holdings
2
Volume · 30D
0M sh
NAV per share
$37.32
52W range
low $28.27high $49.29

The ETF.net AETH Grade

B

58/ 100

Rank 4 of 11 in Crypto Derivatives⁠

Confidence Low

Six-pillar profile for AETH. Scores out of 100: Cost 64, Risk 65, Mission not scored, Tradability 37, Holdings not scored, Durability 64. Strongest: Risk (65). Weakest: Tradability (37). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 58 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 64
    Category rank4/11 · top 36%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 65
    Category rank3/11 · top 27%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 37
    Category rank8/11 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 64
    Category rank6/11 · mid-pack

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on AETH

ETF.net Research

BCrypto exposure with an off switch. AETH follows a moving-average trend signal and sits either in CME ether futures or entirely in U.S. Treasuries, so a downtrend parks it in bonds instead of riding the slide down.

Stated mandate

The Fund seeks capital appreciation through a rules-based, long-flat strategy that rotates entirely between Ether Futures Contracts and U.S. Treasury securities according to market momentum.

Why people hold it

  1. 01The rules do the flinching: a 10-day and 20-day moving-average signal keeps it either long ether futures or fully in Treasuries. No manager discretion in the middle.
  2. 02The 1.08% fee sits right at the median for its crypto-derivatives peer group, and below single-coin futures products like SOLZ at 1.64%.
  3. 03Ether exposure comes through CME futures inside a 1940 Act fund, not a direct token holding, so it is regulated fund plumbing with no wallet or key management.
  4. 04Live since 2023, part of Bitwise's Trendwise line of momentum-driven crypto futures funds rather than a one-off experiment.

Worth knowing

  1. 01Trend signals react to price, they do not anticipate it. Choppy markets can flip the fund into Treasuries before a bounce or into futures before a turn.
  2. 02You pay up for the switch. Straight ether futures rivals such as EETH and ProShares' bitcoin-and-ether funds charge 0.95% for always-on exposure.
  3. 03It is a small, thinly traded fund, so spreads and trade sizing matter more here than with the category's bigger names.

AETH Holdings

As of Sep 20, 2026, 9:29 AM
Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
TREASURY BILL 0 10/15/202691.6%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—TREASURY BILL 0 10/15/202691.63%6,000,000$6M53
002—CASH8.37%0$546K414

Showing 1–2 of 2 holdings

AETH Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

AETH$8,285
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. AETH $8,285. SPY $11,723. Use the arrow keys to read each point.$5,623$8,920$12,216Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for AETH. Periods over one year show the average yearly return.
PeriodAETH
Year to date+7.1%
1 month+3.2%
3 months+18.8%
1 year−17.1%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for AETH
YearReturn barAETH
2026 YTD+7.1%
2025−0.1%
2024+31.7%
2023+39.5%

History from Oct 3, 2023

AETH in the news

AETH Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
2.25%Last 12 months
Payout per share
$0.87Last 12 months
Last payment
$0.87 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 22, 2023 $2.14; Dec 26, 2024 $5.46; Dec 26, 2025 $0.87. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 26, 2025Dec 30, 2025$0.87
Dec 26, 2024Dec 30, 2024$5.46
Dec 22, 2023Data unavailable$2.14

AETH Risk

How much the fund’s monthly returns vary, scaled to a year.
64.6%
Annualised · 34 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.52
vs 3-month T-bills · 34 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−51.1%
35 months · trough Jul 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.33
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

AETH Cost

Expense ratio1.08%
  • The middle half of Crypto Derivatives funds
  • Median 1.08%

3 of the 7 Crypto Derivatives funds charge less.

AETH costs $108.00 a year on $10,000. The median Crypto Derivatives fund costs $108.00.