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ETH vs ETHE

Grayscale Ethereum Mini Trust ETF

ETHANYSE Arca

Grayscale Ethereum Staking ETF

ETHECNYSE Arca

Overlap

Expense ratio

ETH −2.35pt a year

ETH0.15%ETHE2.50%

Avg volume · 30D

ETH 1.1×the volume

ETH2.67METHE2.34M

ETH vs ETHE Performance

Oct 31, 2025 – Oct 30, 2026

−41.6%ETH−43.1%ETHE

Oct 31, 2025 to Oct 30, 2026. ETH −41.6%. ETHE −43.1%. Use the arrow keys to read each point.−60%−30%−20%−10%0%Oct 2025Apr 2026Oct 2026
Expense ratio
ETH 0.15%, better
ETHE 2.50%
Fund size
ETH $2.09B
ETHE $1.54B
1Y total return
ETH −41.6%, better
ETHE −43.1%
Holdings
ETH 1
ETHE 1
Avg volume (30D)
ETH 2.67M sh, better
ETHE 2.34M sh
NAV per share
ETH $21.34
ETHE $17.92
52W range

ETF.net Grade

ETH: Cost 88, Risk 50, Mission 100, Tradability 87, Holdings not scored, Durability 61. ETHE: Cost 4, Risk 38, Mission 100, Tradability 76, Holdings not scored, Durability 73.
Pillar letters and Scores for ETH, ETHE, with each pillar’s weight
PillarETHETHE
Cost30% weightA88HigherF4
Mission25% weightA100A100
Risk15% weightC50HigherD38
Tradability15% weightA87HigherA76
Holdings10% weightNot scoredNot scored
Durability5% weightB61A73Higher

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 ETHE 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 ETHE 10th 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 9CQETHInvesco Galaxy Ethereum ETFScore 54
  4. Rank 10CETHEGrayscale Ethereum Staking ETFScore 51
  5. Rank 11CETHBiShares Staked Ethereum Trust ETFScore 50

Our read on each fund

ETF.net Research

ETHAGrayscale Ethereum Mini Trust ETF

ETHECGrayscale Ethereum Staking 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.

ETHE The original Grayscale ether vehicle, launched as a trust in 2017 and now an ETF that stakes its coins. It was the first US spot crypto fund to pass staking proceeds to holders. The trade-off: a 2.5% fee.

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.

ETHE The fund seeks to track the value of Ether held by the Trust, while also reflecting staking rewards after expenses and other liabilities.

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.
  • ETHE Staking is written into the mandate: the fund tracks the value of the ether it holds and reflects staking rewards earned on it, after expenses.
  • It made the first staking-reward distribution by a US spot crypto ETP in January 2026, after Grayscale switched staking on for its ether funds in October 2025.investingnews.com
  • A multi-billion-dollar, actively traded fund with a lineage back to 2017, so shares are rarely hard to move.

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.
  • ETHE Cost is the headline trade-off: 2.5% a year, while Grayscale's own Ethereum Mini (ETH) offers staked ether exposure at 0.15%.grayscale.com
  • Staking adds moving parts: ether can sit locked during bonding and unstaking windows, may earn nothing in those gaps, and depends on validators and custodians.grayscale.com
  • Reward payouts are irregular by design. The fund earns rewards and distributes proceeds when it sells them, not on a fixed schedule.grayscale.com

Full ETH profile⁠

Full ETHE profile⁠

ETH vs ETHE 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 ETHE Cost

Overpaying ETHE vs ETH

$35,532

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

  • ETH 0.15%

    $3,137

  • ETHE 2.50%

    $38,669

$10,000
30 years

Cost over time

  • ETH 0.15%
  • ETHE 2.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K$40K051015202530ETHE $38,669ETH $3,137

Year by year

YearETHETHEOverpaying
10$274$4,142$3,868
20$1,071$14,580$13,509
30$3,137$38,669$35,532

Expense ratio

  • 0.15%ETH, cheaper
  • 2.50%ETHE
  • Middle half of Spot Ether funds
  • Median 0.21%

ETH 2nd cheapest of 11 funds

ETHE 11th cheapest of 11 funds

ETH vs ETHE Dividends

Last 12 months to Oct 30, 2026
Last payment
ETH $0.04
ETHE $0.03
Ex-dividend
ETH Oct 5, 2026
ETHE Oct 5, 2026
Paid on
ETH Oct 6, 2026
ETHE Oct 6, 2026
Frequency
ETH Monthly
ETHE Monthly

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$0.052026YTD
ETHEMonthly · 10 paymentsAll ETHE payments⁠
One bar per payment. 10 payments in 2026 YTD. Jan 5, 2026 $0.08; Feb 3, 2026 $0.03; Mar 3, 2026 $0.02; Apr 7, 2026 $0.02; May 5, 2026 $0.02; Jun 3, 2026 $0.02; Jul 7, 2026 $0.02; Aug 4, 2026 $0.02; Sep 3, 2026 $0.03; Oct 5, 2026 $0.03. Use the arrow keys to read each point.$0$0.052026YTD

ETH vs ETHE 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 2024ETHE 84.8%
Return per unit of riskSharpe ratio, 3 years
ETH 0.07since Aug 2024ETHE 0.42
Worst fallMax drawdown, 5 years
ETH −67.5%since Jul 2024ETHE −89.8%
Market sensitivityBeta, 5 years
ETH 2.54ETHE 3.38

ETH and ETHE in the news

All news⁠

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