Bitwise Ethereum ETF
$17.90−0.11 (−0.61%)
- 0.20%
- $274M
- −37.1%
- 0.8M sh
- $17.73
- low $10.93high $30.63
The ETF.net ETHW Grade
B
Score 67 out of 100
- 3 of 11
Score 67 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A70 out of 100Rank 3 of 11Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 9Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C45 out of 100Rank 2 of 10Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D38 out of 100Rank 9 of 11Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C47 out of 100Rank 7 of 11
Our read on ETHW
BSpot ether with a conscience clause: Bitwise pledged 10% of the fund's profits to Ethereum's open-source developers. It holds ether directly, no derivatives, at a fee below the spot-ether norm.
The Trust seeks exposure to the value of ether held by it, less operating expenses and liabilities. It holds ether directly, values its assets using an ether pricing benchmark, and does not use derivatives.
Why people hold it
- Holds ether outright and values it off an ether pricing benchmark. No futures, no swaps, no leverage layered on top.
- The 0.20% fee undercuts the 0.25% that is typical across spot-ether ETFs.
- Bitwise committed to donating 10% of the fund's profits to Ethereum open-source developers and to publishing the trust's blockchain addresses.bitwiseinvestments.combusinesswire.com
- Launched July 2024 in the first wave of US spot-ether ETFs, and it grades in the upper half of that peer group.bitwiseinvestments.com
Worth knowing
- Cheaper spot-ether options exist: Franklin's EZET at 0% and Grayscale's ETH at 0.15%.
- Structured as a grantor trust, not a registered fund, so the usual fund-level protections do not apply.
- Ether is a volatile asset, and this is a single-asset fund with no diversification and no income distributions.
ETHW Holdings
- Other
- 1
- 100%
- Ethereum
ETHW Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
ETHW$6,291
Returns run to the Oct 12, 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.
| Period | ETHW |
|---|---|
| Year to date | −15.3% |
| 1 month | −0.8% |
| 3 months | +40.5% |
| 1 year | −37.1% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | ETHW |
|---|---|---|
| 2026 YTD | −15.3% | |
| 2025 | −11.3% | |
| 2024 | −3.5% |
ETHW in the news
ETHW Dividends
No distributions in the last 12 months.
ETHW Risk
- 76.0%
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.
- 0.16
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.
- −67.9%
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.
- 2.55
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
ETHW Cost
0.20%
ETHW0.20%
- The middle half of Spot Ether funds
- Median 0.21%
3 of the 11 Spot Ether funds charge less.
Other funds in Spot Ether
- AETHGrayscale Ethereum Mini Trust ETFExpense ratio 0.15%1 year return −36.0%
- BETHVVanEck Ethereum ETFExpense ratio 0.20%1 year return −37.1%
- BEZETFranklin Ethereum ETFExpense ratio 0.19%1 year return −37.0%
- BTETH21Shares Ethereum ETFExpense ratio 0.21%1 year return −36.7%
- BETHAiShares Ethereum Trust ETFExpense ratio 0.25%1 year return −37.1%