What is a spot Ethereum ETF?
A spot Ethereum ETF is an exchange-traded fund that invests directly in Ethereum, the world’s second-largest cryptocurrency by market capitalization after Bitcoin. On July 23, 2024, the SEC allowed the first spot Ethereum ETFs to start trading — this followed approval of spot Bitcoin ETFs in January 2024.
Ethereum has many features that distinguish it from Bitcoin. Its blockchain doesn’t just host Ether coins; it’s also home to decentralized apps and non-fungible tokens (NFTs) that run on the Ethereum protocol. Ethereum also now uses a proof-of-stake system to create new coins — a more energy-efficient system than the proof-of-work process behind Bitcoin mining. (Ethereum also used a proof-of-work system until it switched to proof-of-stake in 2022.)
There were already Ethereum strategy ETFs on the market before the approval of spot ETFs, which indirectly track the price of Ether using futures contracts. However, these may not track the cryptocurrency’s price quite as accurately as a spot Ethereum ETF, and they may charge higher fees. The spot Ethereum ETFs approved in July 2024 are the first of their kind.
10 Spot Ethereum ETFs
To date, 10 different spot Ethereum ETFs have started trading since approval. They're listed below along with their ticker symbols and fees.
Fund name & symbol | Fee |
|---|---|
Grayscale Ethereum Mini Trust (ETH) | 0.15% |
Franklin Ethereum Trust (EZET) | 0.19% |
VanEck Ethereum Trust (ETHV) | 0.20% |
Bitwise Ethereum ETF (ETHW) | 0.20% |
21shares Ethereum ETF (TETH) | 0.21% (Waived until Oct. 8, 2026) |
Fidelity Ethereum Fund (FETH) | 0.25% |
iShares Ethereum Trust (ETHA) | 0.25% |
Invesco Galaxy Ethereum ETF (QETH) | 0.25% |
iShares Staked Ethereum Trust ETF (ETHB) | 0.25% (Waived until March 12, 2027, or until the fund exceeds $2.5 billion in assets) |
Grayscale Ethereum Trust (ETHE) | 2.50% |
Source: Fund websites. Data is current as of July 24, 2026, and is for informational purposes only. | |
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9 Ethereum strategy ETFs
We define an Ethereum strategy ETF as any ETF that invests at least 50% of its assets in Ether futures. There are nine such funds on the market today, and they’re listed below from lowest to highest fee. Leveraged ETFs are marked with an * asterisk, while inverse ETFs are marked with a ** double asterisk.
Fund name & symbol | Fee | Notes |
|---|---|---|
ProShares UltraShort Ether ETF (ETHD)** | 0.99% | Invested in various Ether derivatives, targeting 2x the inverse of the daily returns of Ether. |
ProShares Ultra Ether ETF (ETHT)* | 1.02% | Invested in various Ether derivatives, targeting 2x the daily returns of Ether. Fee reduced to 0.94% until Sept. 30, 2026. |
ProShares Short Ether ETF (SETH)** | 1.02% | Invested in Ether futures, targeting the opposite of the daily returns of Ether. Fee reduced to 0.95% until Sept. 30, 2026. |
ProShares Ether Strategy ETF (EETH) | 1.03% | Invested in Ether futures. Fee reduced to 0.95% until Sept. 30, 2026. |
ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE) | 1.03% | Invested in Bitcoin and Ether futures. Fee reduced to 0.95% until Sept. 30, 2026. |
ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) | 1.04% | Invested in Bitcoin and Ether futures. Fee reduced to 0.95% until Sept. 30, 2026. |
Bitwise Trendwise Ethereum and Treasuries Rotation Strategy ETF (AETH) | 1.08% | Investment rotates between Ether futures and U.S. Treasuries. Fee reduced to 0.89% until May 1, 2027. |
CoinShares Bitcoin and Ether ETF (BTF) | 1.27% | Invested in Bitcoin futures, Ether futures, U.S. Treasuries and corporate bonds. |
VolatilityShares 2x Ether ETF (ETHU)* | 2.97% | Invested in Ether futures, targeting 2x the daily returns of Ether. |
Source: Fund websites. Data is current as of July 24, 2026, and is for informational purposes only. | ||
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Ethereum ETFs vs. Ethereum itself
Spot Ethereum ETFs may offer investors who cannot buy Ethereum directly (such as retirement account investors) a cheaper and more reliable way to invest in Ethereum than the pre-existing slate of Ethereum strategy ETFs.
But there are some advantages to buying Ethereum directly. While staking rewards (a sort of interest payment or dividend for Ether holders) have become more common among spot Ethereum ETFs, you'll dodge paying an expense ratio and get full control over staking by buying Ethereum outright.
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The editor owned Ether at the time of publication.
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