Top 5 Ethereum ETFs to watch in 2026

Each of these funds holds ether directly and aims to reflect the price of the cryptocurrency, so you can access ether through a standard brokerage account rather than managing a digital wallet. Fees across the five funds here range from 0.15% for Grayscale Ethereum Staking Mini ETF ($ETH) to 2.57% for Grayscale Ethereum Staking ETF ($ETHE) – more than 17 times the lowest fee on this list.

How we built this list: We selected these funds based on their investment category and relevance to the theme, then ordered them by assets under management. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.

Past performance is not a reliable indicator of future performance.

Source: Stake market data. Figures in US$. Data updated as of 22 October 2026.

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1. iShares Ethereum Trust ETF ($ETHA)

Price: US$53.88 · Daily: -4.5% · AUM: US$7.85B · MER: 0.23%

iShares Ethereum Trust ETF ($ETHA) is designed to track the price of ether. The trust is intended to offer a way to gain exposure to ether similar to holding it directly, without needing to manage a digital wallet or deal with the practicalities of owning cryptocurrency outright. The fund aims to match ether's price performance before its own expenses and liabilities are deducted, so a small tracking gap between the trust's return and ether's raw price movement applies.

Because iShares Ethereum Trust ETF ($ETHA) is tied to a single asset, its value moves with ether's price alone. Ether can experience large price swings over short periods, and the trust reflects those movements directly – in either direction.

2. Grayscale Ethereum Staking Mini ETF ($ETH)

Price: US$22.74 · Daily: -4.5% · AUM: US$2.23B · MER: 0.15%

The Grayscale Ethereum Staking Mini ETF ($ETH) holds ether directly, aiming to reflect the value of that ether held by the trust. Each share is intended to represent a proportional interest in those holdings. The per-share value is determined by reference to an index price, then reduced by the trust's expenses and other liabilities.

Grayscale notes that no assurance can be given that the trust will fully achieve its investment objective. The 'staking' in the fund's name refers to a mechanism on the Ethereum network, though the stated objective centres on price tracking rather than explaining how that activity functions within the fund. The fund shares its core investment objective with Grayscale's Ethereum Staking ETF ($ETHE), which also appears on this list.

3. Grayscale Ethereum Staking ETF ($ETHE)

Price: US$19.11 · Daily: -4.4% · AUM: US$1.74B · MER: 2.57%

Grayscale Ethereum Staking ETF ($ETHE) holds ether directly and aims to reflect the value of that ether, referenced against an index price and adjusted for the trust's expenses and liabilities. The structure is intended to give investors exposure to ether's price movements through a standard brokerage account, without needing to hold cryptocurrency directly.

Grayscale is clear that there's no assurance $ETHE will achieve its investment objective – tracking ether's price through a fund structure involves real-world costs and slippage that can cause the share price to diverge from the underlying asset.

4. Fidelity Ethereum Fund ($FETH)

Price: US$23.74 · Daily: -4.4% · AUM: US$1.41B · MER: 0.25%

The Fidelity Ethereum Fund ($FETH) is designed to track the performance of ether, holding the cryptocurrency directly rather than through derivatives or related securities. The fund values its shares each day at 4:00 pm Eastern time, using the same methodology applied to calculate its reference index. That daily pricing aims to keep the fund's share value closely aligned with the spot price of ether, adjusted for the Trust's expenses and liabilities.

Because $FETH holds ether outright, its performance is intended to move in line with ether's price – meaning the fund carries the same price swings that come with the asset itself. Ether can be highly volatile, so the fund's value can move sharply in either direction over short periods.

5. Bitwise Ethereum ETF ($ETHW)

Price: US$17.02 · Daily: -4.5% · AUM: US$260.4M · MER: 0.19%

Bitwise Ethereum ETF ($ETHW) holds ether and aims to reflect the value of those holdings, less the Trust's operating costs. The sponsor's fee accrues in US dollars, drawing from the trust's assets on an ongoing basis rather than being charged as a separate transaction. That structure means the trust's ether position is intended to move in line with ether's price, adjusted for those expenses over time.

Each day, $ETHW values its ether holdings and net assets using a Pricing Index. That daily calculation sets the per-share price, so the trust's value is updated as ether's price moves.

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Common questions

How do I invest in Ethereum ETFs in Australia?

All five funds in this list trade on U.S. exchanges, so you'll need a trading platform that supports U.S. markets. From there, you search by ticker and buy or sell shares during U.S. market hours, the same way you'd buy any U.S.-listed stock. Each fund holds ether directly, so there's no need to set up a digital wallet or manage cryptocurrency yourself.

What are the key risks of Ethereum ETFs?

Some of the key risks include ether's price volatility – it can swing sharply in either direction over short periods, and every fund here reflects those movements directly. Because all five funds are priced in USD, movements between the Australian dollar and the USD affect what a purchase costs and what any proceeds are worth in AUD. Each fund also deducts its expenses from its ether holdings over time, so returns will trail ether's raw price by at least the annual fee, and potentially more due to operational costs or pricing slippage. Holding a single asset with no spread across other assets or cryptocurrencies adds to the concentration risk.

How do fees compare across these Ethereum ETFs?

The management expense ratios (MERs) across this list run from 0.15% to 2.57% – a wide spread for funds that all hold ether directly and share the same core investment objective. $ETH carries the lowest MER at 0.15%, while $ETHE sits at the other end at 2.57%. Because each fund deducts its fee from its ether holdings over time, the difference in MER compounds directly into a difference in how far each fund's return may trail ether's raw price movement.

Disclaimer

Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.

This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.

Please refer to hellostake.com/pricing for the fees that apply. When you trade securities priced in another currency, currency conversion fees may apply and movements in the exchange rate may affect your returns.

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This article combines AI and human review from our analysts to bring you accurate, informative investing content at speed. For questions or suggestions, contact stakedesk@stake.com.au.