8 Upcoming Ethereum ETFs and Their Fees and Promotions

The SEC may approve eight spot Ethereum ETFs in the coming days. Here's what to know about them, and how they compare to existing Ethereum strategy ETFs.
Updated
Profile photo of Sam Taube
Written by Sam Taube
Lead Writer
Profile photo of Chris Davis
Edited by Chris Davis
Assigning Editor
Fact Checked

Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.


The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

About six months have passed since the Securities and Exchange Commission (SEC) approved the first spot Bitcoin ETFs. Now, there’s reason to believe the SEC is days away from approving the first spot Ethereum ETFs.

On July 15, Reuters, citing crypto industry sources involved in discussions with the SEC, reported that the agency will allow Ethereum ETFs to begin trading Tuesday, July 23

.

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.

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 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 are already Ethereum strategy ETFs on the market, 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 would, and they may charge higher fees. If spot Ethereum ETFs are approved in July, they’d be the first of their kind.

Ready to choose an online broker?

View a curated list of our picks based on how you like to invest.

on NerdWallet's secure site

How many Ethereum ETFs could be approved?

To date, eight different ETF issuers have filed registration statements with the SEC for Ethereum ETFs.

They are listed below, along with the expected name and ticker symbol of each ETF, each ETF’s fee and any promotional fee waivers.

Fund name & symbol

Fee

Notes

Franklin Ethereum Trust (EZET)

0.19%

Fee waived until January 31, 2025 or first $10 billion in fund assets, whichever comes first.

VanEck Ethereum Trust (ETHV)

0.20%

Fee waived for first 12 months of trading or first $1.5 billion in fund assets, whichever comes first.

Bitwise Ethereum ETF (ETHW)

0.20%

Fee waived for first six months of trading or first $500 million in fund assets, whichever comes first.

21Shares Core Ethereum ETF (CETH)

0.21%

Fee waived for first six months of trading or first $500 million in fund assets, whichever comes first.

Fidelity Ethereum Fund (FETH)

0.25%

Fee waived until Dec. 31, 2024.

iShares Ethereum Trust (ETHA)

0.25%

Fee reduced to 0.12% for first $2.5 billion in fund assets.

Grayscale Ethereum Mini Trust (ETH)

0.25%

Fee reduced to 0.12% for first 12 months of trading or first $2 billion in fund assets, whichever comes first.

Invesco Galaxy Ethereum ETF (QETH)

0.25%

N/A

Source: SEC EDGAR system. Data is current as of July 17, 2024 and for informational purposes only.

In the days leading up to the first Bitcoin ETF approvals in Jan. 2024, Bitcoin ETF issuers engaged in a race to the bottom in terms of fees. Many issuers filed multiple amended registration statements lowering their fees to try to undercut their competitors, some of whom responded hours later by filing their own amended registration statements with even lower fees.

Others announced last-minute promos — such as reducing their fee to zero for the first six months of trading — in an effort to distinguish themselves as the cheapest Bitcoin ETF. This fast-paced exchange of fee cuts and promos continued into the hours just before the SEC’s approval announcement.

Investors may witness a similar rapidfire price war between prospective Ethereum ETF issuers in the days ahead. With that in mind, it’s worth double-checking any information you find online about Ethereum ETF fees and promos. Any numbers you see online could be outdated by the time you read them.

Ethereum strategy ETFs

We define an Ethereum strategy ETF as any ETF that invests at least 50% of its assets in Ethereum futures. There are seven such funds on the market today, and they’re listed below from lowest to highest fee.

Fund name & symbol

Fee

Notes

VanEck Ethereum Strategy ETF (EFUT)

0.66%

Invested in Ether futures.

ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ)

0.70%

Invested in Ether futures.

Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP)

0.90%

Invested in Bitcoin and Ether futures. Fee reduced to 0.85% until Oct. 2, 2025.

Bitwise Ethereum Strategy ETF (AETH)

0.92%

Invested in Ether futures. Fee reduced to 0.85% until October 2, 2025.

Valkyrie Bitcoin and Ether Strategy ETF (BTF)

1.24%

Invested in Bitcoin and Ether futures.

ProShares Ether Strategy ETF (EETH)

1.33%

Invested in Ether futures. Fee reduced to 0.95% until Oct. 31, 2024.

ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE)

1.33%

Invested in Bitcoin and Ether futures. Fee reduced to 0.95% until Oct. 31, 2024.

Sources: Fund websites. Data is current as of July 17, 2024 and for informational purposes only.

Track your finances all in one place
Find ways to invest more by tracking your income and net worth on NerdWallet.

What would ETF approvals mean for Ethereum?

The price of Ethereum is up about 50% this year at the time of writing. Would ETF approvals add to that momentum? That remains to be seen.

Ethereum ETFs would give 401(k) and IRA investors a new way to invest in crypto. Americans collectively hold nearly $40 trillion in retirement accounts, and many of those retirement accounts do not allow trading of cryptocurrencies themselves.

In the three months after Bitcoin ETFs were approved, the price of Bitcoin did rise — by more than 50%, in fact. But it’s hard to say whether this was entirely due to ETF-related buying.

There’s another potential explanation for Bitcoin’s rally in early 2024: the hype leading up to the Bitcoin halving in April. And whatever the biggest cause of that rally was, it didn’t last long. Bitcoin is up less than 5% over the last three months.

Ethereum ETFs vs. Ethereum itself

Spot Ethereum ETFs could have some advantages over other ways of investing in Ethereum. As we’ve discussed, they could offer investors who cannot buy Ethereum directly (such as retirement account investors) a cheaper and more reliable way to invest in Ethereum than the existing slate of Ethereum strategy ETFs.

However, it’s important to note that Ethereum ETFs do have some disadvantages compared to owning the cryptocurrency itself. Ethereum ETF investors would not receive staking rewards (a sort of interest payment or dividend for Ether holders).

If you want that feature of Ethereum, you’ll need to invest in the cryptocurrency itself.

The editor owned Ether at the time of publication.

AD
Robinhood
NerdWallet rating 
Learn More

on Robinhood's website

Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.