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ETHB vs ETHW

iShares Staked Ethereum Trust ETF

ETHBCNasdaq

Bitwise Ethereum ETF

ETHWBNYSE Arca

Overlap

Expense ratio

ETHW −0.05pt a year

ETHB0.25%ETHW0.20%

Avg volume · 30D

ETHW 1.6×the volume

ETHB463KETHW735K

ETHB vs ETHW Performance

Aug 7, 2026 – Nov 9, 2026

+11.2%ETHB+10.7%ETHW

Aug 7, 2026 to Nov 9, 2026. ETHB +11.2%. ETHW +10.7%. Use the arrow keys to read each point.0%20%30%40%Aug 2026Sep 2026Nov 2026
Expense ratio
ETHB 0.25%
ETHW 0.20%, better
Fund size
ETHB $887M
ETHW $244M
1Y total return
ETHB No data
ETHW −38.8%
Holdings
ETHB 3
ETHW 1
Avg volume (30D)
ETHB 463K sh
ETHW 735K sh, better
NAV per share
ETHB $28.71
ETHW $15.93
52W range

ETF.net Grade

ETHB: Cost 30, Risk 87, Mission not scored, Tradability 52, Holdings not scored, Durability 54. ETHW: Cost 70, Risk 39, Mission 100, Tradability 38, Holdings not scored, Durability 47.
Pillar letters and Scores for ETHB, ETHW, with each pillar’s weight
PillarETHBETHW
Cost30% weightD30A70Higher
Mission25% weightNot scoredA100
Risk15% weightA87HigherD39
Tradability15% weightC52HigherD38
Holdings10% weightNot scoredNot scored
Durability5% weightC54HigherC47

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. ETHB and ETHW 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 ›

ETHW ranks 4th and ETHB 11th of 11 funds in the Spot Ether Category.

  1. Rank 1AETHGrayscale Ethereum Mini Trust ETFScore 82
  2. Rank 2AMSSEMorgan Stanley Ethereum TrustScore 77
  3. Rank 3BETHVVanEck Ethereum ETFScore 68
  4. Rank 4BETHWBitwise Ethereum ETFScore 66
  5. Rank 5BEZETFranklin Ethereum ETFScore 63
  6. Rank 10CETHEGrayscale Ethereum Staking ETFScore 52
  7. Rank 11CETHBiShares Staked Ethereum Trust ETFScore 50

Our read on each fund

ETF.net Research

ETHBCiShares Staked Ethereum Trust ETF

ETHWBBitwise Ethereum ETF

In short

ETHB Most spot ether funds just park the coin. This iShares trust stakes it, aiming to track ether's price while also capturing the rewards that staked ether earns. Fee sits at the ether category's median.

ETHW Spot 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

ETHB The fund seeks to track ether’s price performance while also capturing rewards from staking the Trust’s ether.

ETHW 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

  • ETHB Staking is written into the mandate, not bolted on: the trust seeks ether's price performance plus the rewards from staking the ether it holds.ishares.com
  • The 0.25% expense ratio lands right at the median for spot ether funds, so the staking machinery isn't priced above a plain wrapper.
  • Staked-ether exposure arrives in a normal brokerage account: no wallet, no validator to run, no private keys to lose.ishares.com
  • ETHW 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

  • ETHB Cheaper ways to hold spot ether exist: EZET at 0.00%, ETH at 0.15%, ETHW and ETHV at 0.20%. Staking rewards have to cover that fee gap first.
  • It launched in 2026, so there's no long record showing how the staking piece behaves across a full crypto cycle.
  • In a crowded field of ten spot ether funds, the overall build sits behind the category's stronger implementations on cost and trading friction.
  • ETHW 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.

Full ETHB profile⁠

Full ETHW profile⁠

ETHB vs ETHW 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.

ETHB vs ETHW Cost

Overpaying ETHB vs ETHW

$1,004

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

  • ETHB 0.25%

    $5,159

  • ETHW 0.20%

    $4,155

$10,000
30 years

Cost over time

  • ETHB 0.25%
  • ETHW 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530ETHB $5,159ETHW $4,155

Year by year

YearETHBETHWOverpaying
10$455$365$90
20$1,769$1,421$348
30$5,159$4,155$1,004

Expense ratio

  • 0.25%ETHB
  • 0.20%ETHW, cheaper
  • Middle half of Spot Ether funds
  • Median 0.21%

ETHW 4th cheapest of 11 funds

ETHB 7th cheapest of 11 funds

ETHB vs ETHW Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
ETHB No data
ETHW None
Last payment
ETHB $0.04
ETHW No data
Ex-dividend
ETHB Nov 9, 2026
ETHW No data
Paid on
ETHB Pays Nov 10, 2026
ETHW No data
Frequency
ETHB Monthly
ETHW No data

Distribution history

Per share, 2026, same scale for both

ETHBMonthly · 6 paymentsAll ETHB payments⁠
One bar per payment. 6 payments in 2026 YTD. Jun 8, 2026 $0.02; Jul 9, 2026 $0.03; Aug 10, 2026 $0.03; Sep 9, 2026 $0.04; Oct 8, 2026 $0.04; Nov 9, 2026 $0.04. Use the arrow keys to read each point.$0$0.052026YTD
ETHWAll ETHW payments⁠

No distribution history available.

ETHB vs ETHW Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ETHB No dataETHW 75.5%since Aug 2024
Return per unit of riskSharpe ratio, 3 years
ETHB No dataETHW 0.06since Aug 2024
Worst fallMax drawdown, 5 years
ETHB No dataETHW −67.9%since Jul 2024
Market sensitivityBeta, 5 years
ETHB 2.54ETHW 2.63

ETHB and ETHW in the news

All news⁠

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