Top 7 Ethereum ETFs to watch in 2026
These funds hold ether directly, so the share price moves with the cryptocurrency's spot price. Fees are one key difference, running from 0.12% to 2.57%; whether a fund stakes its ether is another.
Each fund on this list holds ether directly and is designed to reflect its price, offering a way to access the cryptocurrency through a standard brokerage account rather than a crypto exchange. Management fees range from 0.12% for VanEck Ethereum ETF ($ETHV) to 2.57% for Grayscale Ethereum Staking ETF ($ETHE), despite all seven aiming at the same underlying asset.
How we built this list: We selected these funds based on their industry or investment category and 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.
ETF Name | Ticker | Share Price | AUM | Expense Ratio | In Watchlists |
|---|---|---|---|---|---|
iShares Ethereum Trust ETF | $20.28 | $9.91B | 0.23% | 875 | |
Grayscale Ethereum Staking Mini ETF | $25.69 | $2.51B | 0.15% | 242 | |
Grayscale Ethereum Staking ETF | $21.61 | $1.97B | 2.57% | 834 | |
Fidelity Ethereum Fund | $26.77 | $1.61B | 0.25% | 103 | |
Bitwise Ethereum ETF | $19.24 | $299.7M | 0.19% | 123 | |
VanEck Ethereum ETF | $39.26 | $132.8M | 0.12% | 127 | |
Franklin Ethereum ETF | $20.38 | $60.2M | 0.19% | 24 |
Past performance is not a reliable indicator of future performance.
Source: Stake market data. Figures in US$. Data updated as of 29 September 2026.
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1. iShares Ethereum Trust ETF ($ETHA)
iShares Ethereum Trust ETF (ETHA) share price over the last year: started at US$31.72, ended at US$20.28, a change of −36.1%. Range over the period: high US$35.79, low US$11.74. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$20.28 · Daily: 0.6% · AUM: US$9.91B · MER: 0.23%
Built around a single mandate, iShares Ethereum Trust ETF ($ETHA) is designed to reflect the price of ether. The trust holds ether directly and aims to track the asset's price before the deduction of its own expenses. Its shares are intended to offer a simpler route to ether exposure than acquiring the cryptocurrency directly.
Ether generates no dividends or earnings stream, so $ETHA's value moves entirely with the cryptocurrency's spot price. There are no coupons or income distributions involved. Crypto markets can be highly volatile, and the fund carries that same price risk.
2. Grayscale Ethereum Staking Mini ETF ($ETH)
Grayscale Ethereum Staking Mini ETF (ETH) share price over the last year: started at US$39.51, ended at US$25.69, a change of −35.0%. Range over the period: high US$44.53, low US$14.80. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$25.69 · Daily: 0.6% · AUM: US$2.51B · MER: 0.15%
Grayscale Ethereum Staking Mini ETF ($ETH) is a trust that holds ether directly. Each share is designed to reflect the value of ether held by the trust, measured against an index price and adjusted for the trust's expenses and liabilities. That adjustment means the share price tracks ether's movements but sits below the raw asset value once those costs are accounted for.
Grayscale states in the fund's own objective that there's no assurance $ETH will achieve that goal. The gap between the share price and the underlying ether value can shift, and the fund acknowledges that deviation as a genuine risk rather than a remote one.
3. Grayscale Ethereum Staking ETF ($ETHE)
Grayscale Ethereum Staking ETF (ETHE) share price over the last year: started at US$34.53, ended at US$21.61, a change of −37.4%. Range over the period: high US$38.90, low US$12.59. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$21.61 · Daily: 0.7% · AUM: US$1.97B · MER: 2.57%
Grayscale Ethereum Staking ETF ($ETHE) is designed to reflect the value of ether held by the trust, with each share's value calculated against a reference index price and reduced by the trust's expenses and liabilities. The trust holds ether directly as its core asset, so the share price moves with ether rather than with any broader basket of assets. Grayscale notes in the fund's own documentation that there's no assurance $ETHE will achieve that objective – a disclosure worth keeping in mind given how much ether's price can shift.
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4. Fidelity Ethereum Fund ($FETH)
Fidelity Ethereum Fund (FETH) share price over the last year: started at US$41.87, ended at US$26.77, a change of −36.1%. Range over the period: high US$47.21, low US$15.52. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$26.77 · Daily: 0.6% · AUM: US$1.61B · MER: 0.25%
The Fidelity Ethereum Fund ($FETH) holds ether directly and is designed to track ether's price as measured by its reference index. The fund values its shares once daily, at 4pm Eastern time, using the same methodology applied to that index. That daily pricing structure means $FETH behaves more like a traditional fund than a live market instrument – the share price reflects ether's value at a fixed point each day rather than updating in real time.
5. Bitwise Ethereum ETF ($ETHW)
Bitwise Ethereum ETF (ETHW) share price over the last year: started at US$30.07, ended at US$19.24, a change of −36.0%. Range over the period: high US$33.89, low US$11.14. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$19.24 · Daily: 0.6% · AUM: US$299.7M · MER: 0.19%
The Bitwise Ethereum ETF ($ETHW) holds ether inside a trust structure, aiming to reflect the value of those holdings after the trust's operating expenses are deducted. Each day, the trust values its ether against a Pricing Index to calculate a per-share net asset value.
The sponsor's fee accrues in US dollars, so $ETHW's net asset value moves with ether's price, reduced by that ongoing cost. That daily pricing mechanism keeps the share value tied closely to the trust's actual ether holdings.
6. VanEck Ethereum ETF ($ETHV)
VanEck Ethereum ETF (ETHV) share price over the last year: started at US$61.43, ended at US$39.26, a change of −36.1%. Range over the period: high US$69.22, low US$22.76. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$39.26 · Daily: 0.6% · AUM: US$132.8M · MER: 0.12%
VanEck Ethereum ETF ($ETHV) is structured as a trust that holds ether directly. The fund is designed to reflect ETH's price, minus the trust's operating costs. To value its shares each day, $ETHV uses the MarketVector Ethereum Benchmark Rate, a reference rate calculated from prices contributed by exchanges representing the top five ETH trading platforms.
Drawing on multiple exchanges rather than a single venue is intended to give the benchmark a broader base of trading prices. That cross-platform construction is how $ETHV aims to set a daily share price that reflects ether's price across several major venues rather than any one source.
7. Franklin Ethereum ETF ($EZET)
Franklin Ethereum ETF (EZET) share price over the last year: started at US$31.59, ended at US$20.38, a change of −35.5%. Range over the period: high US$35.89, low US$11.80. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$20.38 · Daily: 0.7% · AUM: US$60.2M · MER: 0.19%
Owning ether directly involves managing private keys, wallets and digital custody arrangements. Franklin Ethereum ETF ($EZET) is designed to offer a way to access ether price exposure through a standard brokerage account, bypassing those steps. The fund seeks to reflect generally the performance of ether's price, so its value moves with the cryptocurrency.
Ether can be a volatile asset, and price swings in the cryptocurrency flow directly into the fund's value. $EZET is designed to track ether's price rather than manage or moderate its movements.
Common questions
How do I invest in Ethereum ETFs in New Zealand?
All seven funds in this list are listed on U.S. exchanges, so you buy them through a share trading platform that provides access to U.S. markets. You search by ticker – $ETHA, $FETH, $ETHV and so on – and trade them like any U.S.-listed stock. No crypto wallet or digital asset exchange is needed.
What are the key risks of Ethereum ETFs?
Some of the key risks include ether's price volatility, which can be severe over short periods. Because these funds are priced in USD, movements in the NZD/USD exchange rate affect what a purchase costs and what sale proceeds are worth in New Zealand dollars. Regulatory uncertainty is another factor – rules around digital assets continue to evolve across jurisdictions, and changes could affect how these funds operate or are treated. Each fund's expense ratio also reduces how closely its net performance tracks ether's raw price.
What is an Ethereum ETF and how does it work?
An Ethereum ETF is a fund that holds ether – the cryptocurrency native to the Ethereum network – and issues shares that trade on a stock exchange. Each share's value is designed to reflect the price of ether, minus the fund's running costs. The structure gives investors access to ether's price movements through a standard brokerage account, without handling a crypto wallet or interacting directly with a digital asset platform.
How do management fees vary across these funds?
Management expense ratios (MERs) in this list run from 0.12% ($ETHV) to 2.57% ($ETHE) – a wide spread for funds tracking the same underlying asset. The remaining five sit between 0.15% and 0.25%. All seven aim to track ether's price, so the MER is a primary point of difference — though $ETH and $ETHE are staking products, which differ structurally from the rest.
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.
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