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ETHE vs ETHV

Grayscale Ethereum Staking ETF

ETHECNYSE Arca

VanEck Ethereum ETF

ETHVBCboe

Overlap

Expense ratio

ETHV −2.30pt a year

ETHE2.50%ETHV0.20%

Avg volume · 30D

ETHE 54.1×the volume

ETHE2.34METHV43.3K

ETHE vs ETHV Performance

Oct 31, 2025 – Oct 30, 2026

−43.1%ETHE−42.6%ETHV

Oct 31, 2025 to Oct 30, 2026. ETHE −43.1%. ETHV −42.6%. Use the arrow keys to read each point.−60%−30%−20%−10%0%Oct 2025Apr 2026Oct 2026
Expense ratio
ETHE 2.50%
ETHV 0.20%, better
Fund size
ETHE $1.54B
ETHV $101M
1Y total return
ETHE −43.1%
ETHV −42.6%, better
Holdings
ETHE 1
ETHV 1
Avg volume (30D)
ETHE 2.34M sh, better
ETHV 43.3K sh
NAV per share
ETHE $17.92
ETHV $32.56
52W range

ETF.net Grade

ETHE: Cost 4, Risk 38, Mission 100, Tradability 76, Holdings not scored, Durability 73. ETHV: Cost 70, Risk 38, Mission 100, Tradability 41, Holdings not scored, Durability 61.
Pillar letters and Scores for ETHE, ETHV, with each pillar’s weight
PillarETHEETHV
Cost30% weightF4A70Higher
Mission25% weightA100A100
Risk15% weightD38D38
Tradability15% weightA76HigherC41
Holdings10% weightNot scoredNot scored
Durability5% weightA73HigherB61

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. ETHE and ETHV 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 ›

ETHV ranks 3rd 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 3BETHVVanEck Ethereum ETFScore 67
  4. Rank 4BETHWBitwise Ethereum ETFScore 66
  5. Rank 9CQETHInvesco Galaxy Ethereum ETFScore 54
  6. Rank 10CETHEGrayscale Ethereum Staking ETFScore 51
  7. Rank 11CETHBiShares Staked Ethereum Trust ETFScore 50

Our read on each fund

ETF.net Research

ETHECGrayscale Ethereum Staking ETF

ETHVBVanEck Ethereum ETF

In short

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.

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

ETHE The fund seeks to track the value of Ether held by the Trust, while also reflecting staking rewards 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

  • 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.
  • 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

  • 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
  • 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 ETHE profile⁠

Full ETHV profile⁠

ETHE vs ETHV 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.

ETHE vs ETHV Cost

Overpaying ETHE vs ETHV

$34,514

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

  • ETHE 2.50%

    $38,669

  • ETHV 0.20%

    $4,155

$10,000
30 years

Cost over time

  • ETHE 2.50%
  • ETHV 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K$40K051015202530ETHE $38,669ETHV $4,155

Year by year

YearETHEETHVOverpaying
10$4,142$365$3,777
20$14,580$1,421$13,159
30$38,669$4,155$34,514

Expense ratio

  • 2.50%ETHE
  • 0.20%ETHV, cheaper
  • Middle half of Spot Ether funds
  • Median 0.21%

ETHV 4th cheapest of 11 funds

ETHE 11th cheapest of 11 funds

ETHE vs ETHV Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
ETHE No data
ETHV None
Last payment
ETHE $0.03
ETHV No data
Ex-dividend
ETHE Oct 5, 2026
ETHV No data
Paid on
ETHE Oct 6, 2026
ETHV No data
Frequency
ETHE Monthly
ETHV No data

Distribution history

Per share, 2026, same scale for both

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
ETHVAll ETHV payments⁠

No distribution history available.

ETHE vs ETHV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ETHE 84.8%ETHV 75.4%since Aug 2024
Return per unit of riskSharpe ratio, 3 years
ETHE 0.42ETHV 0.06since Aug 2024
Worst fallMax drawdown, 5 years
ETHE −89.8%ETHV −67.9%since Jul 2024
Market sensitivityBeta, 5 years
ETHE 3.38ETHV 2.55

ETHE and ETHV in the news

All news⁠

Popular comparisons

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    Grayscale Ethereum Staking ETF · Grayscale Ethereum Mini Trust ETF

    Expense ratio
    2.50% · 0.15%
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