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Launched · SEC filings

Bitwise Ethereum ETF

ETHWNYSE ArcaBitwiseB

$16.05+0.08 (+0.50%)

At close: Nov 2, 2026, 4:00 PM ET

B66/ 100

Rank 4 of 11 in Spot Ether

B66/100Rank 4 of 11inSpot Ether
Intraday session: up, 79 prints from 15.97 to 16.05. Range 15.97 to 16.40. Use the arrow keys to read each point.16.1016.2016.3016.4010 AM12 PM2 PM4 PM
Expense ratio
0.20%
Fund size
$244M
1Y total return
−42.6%
Yield · Last 12 months
No data
Holdings
1
Avg volume · 30D
754K sh
52W range
low $10.93high $26.91
Launched
Filings
SEC EDGAR

The ETF.net ETHW Grade

Based on 5 of 6 pillars

B

Score 66 out of 100

Category
Spot Ether⁠
Rank
4 of 11
Six-pillar profile for ETHW. Scores out of 100: Cost 70, Risk 38, Mission 100, Tradability 38, Holdings not scored, Durability 47. Strongest: Mission (100). Weakest: Tradability (38). Based on 5 of 6 pillars.

Score 66 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 100
    Rank 3 of 11

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 9

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D38 out of 100
    Rank 5 of 11

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D38 out of 100
    Rank 9 of 11

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C47 out of 100
    Rank 7 of 11

Our read on ETHW

ETF.net Research

In short

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.

Stated mandate

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 Performance

Launched Jul 22, 2024

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$5,743
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. ETHW $5,743. SPY $11,199. Use the arrow keys to read each point.$5,000$7,500$10,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 ETHW. Periods over one year show the average yearly return.
PeriodETHW
Year to date−24.9%
1 month−16.2%
3 months+19.7%
1 year−42.6%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 ETHW
YearReturn barETHW
2026 YTD−24.9%
2025−11.3%
2024−3.5%

History from Jul 23, 2024

ETHW in the news

ETHW Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

ETHW Risk

Risk pillarD38 out of 100Rank 5 of 11 in Spot Ether
How much the fund’s monthly returns vary, scaled to a year.
75.5%
Annualised · 27 months to Oct 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.
0.06
vs 3-month T-bills · 27 months to Oct 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.
−67.9%
27 months · trough Jun 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.
2.55
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.

FMP measures it over up to five years of monthly returns.

ETHW Cost

Compare ETHW and MSSE

Overpaying vs MSSE, cheapest in Spot Ether

$1,223

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ETHW 0.20%

    $4,155

  • MSSE 0.14% Cheapest

    $2,932

$10,000
30 years

Cost over time

  • ETHW 0.20%
  • MSSE 0.14%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K$5K051015202530ETHW $4,155MSSE $2,932

Year by year

YearETHWMSSEOverpaying
10$365$256$109
20$1,421$1,000$421
30$4,155$2,932$1,223

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