ETH vs ETHV

ETHAGrayscale Ethereum Mini Trust ETF

ETHVBVanEck Ethereum 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.

ETHV A plain wrapper for spot ether: no overlay, no side strategy, just the coin's price minus a fee that undercuts the typical spot-ether fund. Part of the 2024 class that first brought ether into ordinary brokerage accounts.

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.

ETHV The Trust passively seeks to track the price of Ether, less its operating expenses, without pursuing a separate investment strategy.

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.

• ETHV Charges 0.20% a year against a 0.25% median for spot-ether funds. On a pure price tracker, the fee is one of the few levers an issuer actually controls.
• Mechanically simple: a grantor trust holding ether that passively tracks the coin's price, less expenses, with no separate investment strategy layered on top.vaneck.com
• Tracking has stayed tight to spot ether, and the fund sits in the upper half of its spot-ether peer group on our review.
• Launched in 2024 alongside the first US spot-ether ETFs, so it has run through a full cycle of crypto's mood swings rather than arriving after the fact.

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.

• ETHV Ether swings hard, and this tracks it down as faithfully as up. The trust isn't built to pay income, so total return is price movement alone.
• Trades moderately rather than heavily next to the category's largest funds, which can mean wider spreads, especially away from busy market hours.
• Same coin, cheaper shelf-mates: ETH lists 0.15% and EZET 0.00%, so price isn't this fund's whole case.

Full ETH profile⁠

Full ETHV profile⁠