Key Takeaways
- • Nine spot Ether exchange-traded funds launched in the U.S. following the earlier spot Bitcoin ETF launches at the start of 2024, according to Quartz.
- • BlackRock's iShares Ethereum Trust (ETHA) carries a 0.25% sponsor fee with a one-year waiver reducing it to 0.12% on the first $2.5 billion in AUM.
- • Grayscale's Ethereum Mini Trust (ETH) charges 0.15% with a 0% fee for six months on up to $2 billion in AUM, while the converted Grayscale Ethereum Trust (ETHE) carries a 2.5% fee.
- • Fee structures vary widely: Fidelity's FETH waives its 0.25% fee through year-end, Franklin's EZET waives fees to 0.00% until January 31, 2025 before moving to 0.19%, and VanEck's ETHV is at 0% through July 22, 2025 on the first $1.5 billion before a 0.20% fee.
- • Invesco Galaxy (QETH) charges 0.25%, 21Shares Core Ethereum ETF (CETH) charges 0.21%, and Bitwise (ETHW) charges 0.20% on its first $500 million with a 0% fee for six months.
Summary
Nine spot Ether exchange-traded funds have begun trading in the United States, following the launch of spot Bitcoin ETFs earlier in 2024. Quartz reports that the products give investors a more secure and accessible way to gain exposure to Ether, the second-largest cryptocurrency by market capitalization, and that performance can be tracked via the Farside ETF tracker.
BlackRock, the world's largest asset manager with $10 trillion in AUM, launched the iShares Ethereum Trust ETF (NASDAQ: ETHA). It carries a 0.25% sponsor fee, reduced to 0.12% for the first $2.5 billion in assets under a one-year waiver. Grayscale, described as the largest crypto asset manager, offers two products: the Grayscale Ethereum Trust (NYSE: ETHE), first launched in 2017 and now converted to an ETF with a 2.5% fee, and the Grayscale Ethereum Mini Trust (NYSE: ETH), which has the lowest share price among the spot Ether ETFs. The Mini Trust charges 0.15% and has its fee waived to 0% for six months on up to $2 billion in AUM.
Bitwise launched the Bitwise Ethereum ETF (NYSE: ETHW), with a 0.20% management fee on the first $500 million and a 0% fee for six months. Bitwise also pledged to donate 10% of profits to Ethereum developers, mirroring its commitment for its Bitcoin ETF. Fidelity Investments launched the Fidelity Ethereum Fund (FETH) on Cboe, waiving its fee until year-end, after which it is set at 0.25%. Franklin Templeton launched the Franklin Ethereum ETF (EZET) on Cboe, waiving fees to 0.00% for the first $10.0 billion until January 31, 2025, with a post-waiver fee of 0.19%.
VanEck, a $90 billion investment manager that first filed for a U.S. spot ether ETF in 2021, launched the VanEck Ethereum ETF (ETHV) with 0% fees through July 22, 2025 on the first $1.5 billion, followed by a 0.20% fee. Invesco, in partnership with Galaxy Asset Management, launched the Invesco Galaxy Ethereum ETF (QETH) at 0.25%. 21Shares US LLC launched the 21Shares Core Ethereum ETF (CETH) at 0.21%.
BlackRock, the world's largest asset manager with $10 trillion in AUM, launched the iShares Ethereum Trust ETF (NASDAQ: ETHA). It carries a 0.25% sponsor fee, reduced to 0.12% for the first $2.5 billion in assets under a one-year waiver. Grayscale, described as the largest crypto asset manager, offers two products: the Grayscale Ethereum Trust (NYSE: ETHE), first launched in 2017 and now converted to an ETF with a 2.5% fee, and the Grayscale Ethereum Mini Trust (NYSE: ETH), which has the lowest share price among the spot Ether ETFs. The Mini Trust charges 0.15% and has its fee waived to 0% for six months on up to $2 billion in AUM.
Bitwise launched the Bitwise Ethereum ETF (NYSE: ETHW), with a 0.20% management fee on the first $500 million and a 0% fee for six months. Bitwise also pledged to donate 10% of profits to Ethereum developers, mirroring its commitment for its Bitcoin ETF. Fidelity Investments launched the Fidelity Ethereum Fund (FETH) on Cboe, waiving its fee until year-end, after which it is set at 0.25%. Franklin Templeton launched the Franklin Ethereum ETF (EZET) on Cboe, waiving fees to 0.00% for the first $10.0 billion until January 31, 2025, with a post-waiver fee of 0.19%.
VanEck, a $90 billion investment manager that first filed for a U.S. spot ether ETF in 2021, launched the VanEck Ethereum ETF (ETHV) with 0% fees through July 22, 2025 on the first $1.5 billion, followed by a 0.20% fee. Invesco, in partnership with Galaxy Asset Management, launched the Invesco Galaxy Ethereum ETF (QETH) at 0.25%. 21Shares US LLC launched the 21Shares Core Ethereum ETF (CETH) at 0.21%.
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