ETHT vs ETHU

ETHTAProShares Ultra Ether ETF

ETHUC2x Ether ETF

In short

ETHT ProShares opened the US market for leveraged ether in June 2024, and it runs the low-cost version: 0.96% to target twice ether's daily move, below the typical fee among 2x crypto funds.

ETHU One of the first US funds built to deliver twice ether's daily move, using ether futures inside an ordinary brokerage account. Heavily traded, richly priced, and engineered for single days rather than long holds.

Stated mandate

ETHT The fund seeks daily investment results equal to twice the daily performance of ether, before fees and expenses.

ETHU The Fund seeks before-fee investment results equal to twice the daily performance of ether, for a single day, primarily through managed exposure to ether futures contracts.

Why people hold it

• ETHT The original. It listed June 7, 2024 alongside a -2x twin as the first US ETFs built to target twice ether's daily move.businesswire.com
• At 0.96%, with no fee waiver involved, it costs far less than ETHU, the other 2x ether fund in the group, at 2.97%.
• One of the stronger builds in its leveraged-crypto peer group, and actively traded, so entering and exiting doesn't hinge on a thin market.
• No wallet, no keys. It's a registered 1940 Act ETF that gets its exposure from derivatives and does not invest directly in ether.proshares.com

• ETHU Does one thing clearly: aims for twice ether's daily performance before fees, primarily through ether futures, inside a registered 1940 Act fund. No margin account, no rolling your own leverage.
• Among the most actively traded funds in the leveraged crypto group, which matters for a product most people hold for hours or days rather than years.
• Live since June 2024, an early entrant in 2x ether, and now a fund with hundreds of millions in assets. It also makes distributions on a monthly schedule.

Worth knowing

• ETHT The 2x target resets daily. Over periods longer than a single day, returns will likely differ from that daily target, per the prospectus.proshares.com
• Leverage cuts both ways: on a down day for ether, the fund should lose roughly twice as much as the index it tracks.proshares.com
• The track record starts in June 2024, so there is less history here than for most ETFs when judging behavior across market cycles.

• ETHU At 2.97% a year, this sits at the expensive end of leveraged crypto. ETHT targets the same 2x ether exposure for 1.02%.
• The 2x target resets daily. Hold past one session and returns compound off each day's close, so multi-day results can diverge sharply from twice ether's move, especially in choppy markets.
• Day to day it has tracked its 2x target less tightly than the closest implementations in its peer group, a gap that comes on top of the fee.

Full ETHT profile⁠

Full ETHU profile⁠