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ETH vs ETHA

Grayscale Ethereum Mini Trust ETF

ETHANYSE Arca

iShares Ethereum Trust ETF

ETHABNasdaq

Overlap

Expense ratio

ETH −0.10pt a year

ETH0.15%ETHA0.25%

Avg volume · 30D

ETHA 4.4×the volume

ETH2.67METHA11.6M

ETH vs ETHA Performance

Oct 31, 2025 – Oct 30, 2026

−41.6%ETH−42.8%ETHA

Oct 31, 2025 to Oct 30, 2026. ETH −41.6%. ETHA −42.8%. Use the arrow keys to read each point.−60%−30%−20%−10%0%Oct 2025Apr 2026Oct 2026
Expense ratio
ETH 0.15%, better
ETHA 0.25%
Fund size
ETH $2.09B
ETHA $6.98B
1Y total return
ETH −41.6%, better
ETHA −42.8%
Holdings
ETH 1
ETHA 2
Avg volume (30D)
ETH 2.67M sh
ETHA 11.6M sh, better
NAV per share
ETH $21.34
ETHA $50.42
52W range

ETF.net Grade

ETH: Cost 88, Risk 50, Mission 100, Tradability 87, Holdings not scored, Durability 61. ETHA: Cost 30, Risk 38, Mission 100, Tradability 59, Holdings not scored, Durability 87.
Pillar letters and Scores for ETH, ETHA, with each pillar’s weight
PillarETHETHA
Cost30% weightA88HigherD30
Mission25% weightA100A100
Risk15% weightC50HigherD38
Tradability15% weightA87HigherB59
Holdings10% weightNot scoredNot scored
Durability5% weightB61A87Higher

Rank among Spot Ether funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. ETH and ETHA are both graded against the same 11 Spot Ether funds, so their Grades compare head to head.

Spot Ether⁠

Category · 11 funds
See all 11 ›

ETH ranks 1st and ETHA 8th of 11 funds in the Spot Ether Category.

  1. Rank 1AETHGrayscale Ethereum Mini Trust ETFScore 83
  2. Rank 2AMSSEMorgan Stanley Ethereum TrustScore 77
  3. Rank 7BFETHFidelity Ethereum FundScore 59
  4. Rank 8BETHAiShares Ethereum Trust ETFScore 58
  5. Rank 9CQETHInvesco Galaxy Ethereum ETFScore 54

Our read on each fund

ETF.net Research

ETHAGrayscale Ethereum Mini Trust ETF

ETHABiShares Ethereum Trust ETF

In short

ETH The cheap seat in spot ether. A grantor trust that does one thing (hold ether, track its index price) for 0.15% a year, well under the going rate for the category, from a 2024 launch class that is still finding its pecking order.

ETHA The iShares take on ether: hold the actual coin, track its price, skip the wallet and the seed phrase. Launched in 2024, it has grown into a multi-billion-dollar fund and one of the most heavily traded ways to own ether in a brokerage account.

Stated mandate

ETH The Trust passively seeks to have Shares, measured by Ether per Share, reflect the value of its Ether holdings using the Index Price, after expenses and other liabilities.

ETHA The fund seeks to track the price performance of ether, the native token of the Ethereum network.

Why people hold it

  • ETH 0.15% a year, versus 0.25% for the typical spot-ether fund. Among funds tracking the same reference, only EZET lists less at 0.00%.
  • The mandate is narrow and it is honored: hold ether, reflect the Index Price after expenses. One of the tightest implementations in its spot-ether peer group.
  • Assets run into the billions and shares trade actively, which puts it among the easier names to get into and out of in a young category.
  • ETHA Spot, not futures. The trust holds ether itself and tracks the ETHUSDNY reference rate, so there is no futures roll and no self-custody to manage.ishares.com
  • A multi-billion-dollar fund that trades very actively, which generally translates into tight spreads and easy entries and exits.
  • It has stayed tight to the ether price it targets. Tracking is the entire product here, and this one delivers it about as closely as the category gets.
  • The 0.25% fee is a fraction of what Grayscale's legacy ETHE trust (2.50%) charges for the same spot ether exposure.

Worth knowing

  • ETH This is spot ether, undiluted. Price swings are large in both directions and the trust is built to pass them straight through, not to cushion them.
  • No distributions. Whatever happens here comes from ether's price, less the 0.15% fee, with nothing paid out along the way.
  • Launched in 2024, so the history is thin and our risk read leans on roughly a year of data rather than a full market cycle.
  • ETHA That 0.25% sits right at the category median. The same ether exposure costs less at EZET (0.00%), ETH (0.15%) and ETHW (0.20%).
  • No income. The trust holds ether and nothing else, so it makes no distributions and moves with a notoriously volatile asset in both directions.
  • Short history: trading began in 2024, so the record does not yet span a full crypto cycle.

Full ETH profile⁠

Full ETHA profile⁠

ETH vs ETHA Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ETH vs ETHA Cost

Overpaying ETHA vs ETH

$2,022

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

  • ETH 0.15%

    $3,137

  • ETHA 0.25%

    $5,159

$10,000
30 years

Cost over time

  • ETH 0.15%
  • ETHA 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530ETHA $5,159ETH $3,137

Year by year

YearETHETHAOverpaying
10$274$455$181
20$1,071$1,769$698
30$3,137$5,159$2,022

Expense ratio

  • 0.15%ETH, cheaper
  • 0.25%ETHA
  • Middle half of Spot Ether funds
  • Median 0.21%

ETH 2nd cheapest of 11 funds

ETHA 7th cheapest of 11 funds

ETH vs ETHA Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
ETH No data
ETHA None
Last payment
ETH $0.04
ETHA No data
Ex-dividend
ETH Oct 5, 2026
ETHA No data
Paid on
ETH Oct 6, 2026
ETHA No data
Frequency
ETH Monthly
ETHA No data

Distribution history

Per share, 2026, same scale for both

ETHMonthly · 2 paymentsAll ETH payments⁠
One bar per payment. 2 payments in 2026 YTD. Sep 3, 2026 $0.04; Oct 5, 2026 $0.04. Use the arrow keys to read each point.$0$0.032026YTD
ETHAAll ETHA payments⁠

No distribution history available.

ETH vs ETHA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ETH 75.5%since Aug 2024ETHA 75.4%since Aug 2024
Return per unit of riskSharpe ratio, 3 years
ETH 0.07since Aug 2024ETHA 0.06since Aug 2024
Worst fallMax drawdown, 5 years
ETH −67.5%since Jul 2024ETHA −67.9%since Jul 2024
Market sensitivityBeta, 5 years
ETH 2.54ETHA 2.54Same figure. Both funds show the same value, so neither comes out ahead.

ETH and ETHA in the news

All news⁠

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