7 Best Ethereum ETF Options in 2025

The SEC made history by approving the first spot Ethereum ETFs to trade on July 23, 2024. Eight different spot Ethereum ETFs have entered the market since then, which marks a most important milestone for cryptocurrency investments.

These Ether ETFs got off to a slower start than their Bitcoin counterparts. Nine US spot Ether ETFs generated a combined trading volume of over $1 billion on their first day—nowhere near the $4.66 billion seen with Bitcoin spot ETFs. Ethereum is the second oldest cryptocurrency after Bitcoin, and institutional interest in Ethereum ETFs, BlackRock options and other providers keeps growing.

The regulatory scene stays fluid. The SEC postponed its ruling on the Nasdaq Stock Market proposal that would let the Ethereum ETF exchange shares directly for Ether instead of cash. This decision affects several prominent asset managers who await approval to add features. These features could make their funds more appealing to institutional investors and boost efficiency. Let’s get into the seven best Ethereum ETF options available in 2025, with a detailed breakdown of their fee structures to help investors make informed decisions.

Invesco Galaxy Ethereum ETF (QETH)

Launched precisely on July 23, 2024, the Invesco Galaxy Ethereum ETF (QETH) became one of the first spot Ethereum ETFs in the market. The ETF trades on the Cboe BZX Exchange through a partnership between Invesco, a leading global provider of exchange-traded products, and Galaxy Asset Management, one of the world’s largest digital assets and blockchain investment managers.

Invesco Galaxy Ethereum ETF overview

The Invesco Galaxy Ethereum ETF works as a passively managed fund under the 1933 Act Grantor Trust (No K-1 or K-3). QETH’s main goal is clear: to match the spot price performance of ether through the Lukka Prime Ethereum Reference Rate, minus the Trust’s expenses and liabilities.

QETH differs from traditional mutual funds as it’s not an Investment Company under the Investment Company Act of 1940. This creates both new chances and risks for investors who want to enter the Ethereum market.

Since its recent launch, the fund’s performance data has remained limited, with no full-year performance reports available yet. In spite of that, the ETF shows the typical volatility of Ether, with the 52-week range from AUD 14.54 (the low) to AUD 41.01 (the high).

QETH belongs to the Digital Assets category within the Currency Asset Class and tracks the ETH/USD Exchange Rate – Benchmark Price Return. Investors can now get regulated exposure to Ethereum’s price movements without buying and managing the cryptocurrency themselves.

Invesco Galaxy Ethereum ETF fee breakdown

QETH has a competitive expense ratio of 0.25%, making it one of the more affordable Ethereum ETF options. The fee is just above VanEck’s 0.20%, which was announced a month earlier.

Here’s how the fees work:

• Sponsor Fee: The Trust charges a unified fee of 0.25% yearly for services under the Trust Agreement
• Recurring Expenses: The Sponsor Fee is the Trust’s only regular expense

Eight issuers compete to launch Ethereum ETFs at once, and the fee structure helps set QETH apart from others. Most spot Bitcoin ETF issuers picked fees between 0.19% and 0.30%, a range their Ethereum counterparts seem to follow.

Invesco Galaxy Ethereum ETF ideal investor profile

1. Investors who want Ethereum exposure without managing cryptocurrency
2. People who can handle high risk and quick losses
3. Those looking to invest a small part (5% or less) of their diverse portfolio
4. Short-term traders and strategic investors with medium to long-term plans

Grayscale Ethereum Trust (ETHE)

The Grayscale Ethereum Trust (ETHE) started as a closed-end fund and has evolved into a spot exchange-traded fund. This change gives investors a regulated way to invest in Ethereum through traditional investment channels. The trust manages AUD 15.29 billion in assets, making it one of the largest and most trusted Ethereum investment options today.

Grayscale Ethereum Trust overview

The trust keeps things simple. It’s a passively managed investment vehicle that holds Ethereum. Its main goal is clear: mirror Ethereum’s value based on the Index Price, minus expenses and liabilities. You can trade ETHE on the NYSE Arca exchange under “ETHE.” This lets you buy and sell shares through regular brokerage accounts without dealing with crypto exchanges.

ETHE works like a stock, which makes it familiar to traditional investors who want Ethereum exposure. The trust tracks ETH’s market price and serves as a gateway for people who don’t want to handle digital assets directly. The trust is also regulated as a security offering, which adds more protection than direct crypto investments.

The latest numbers show ETHE has about 310,158,500 shares outstanding. The trust showed strong results, with a 46.34% return year-to-date and 75.19% over one year.

Grayscale Ethereum Trust fee breakdown

Fees are a big deal for anyone thinking about investing in ETHE. The trust charges a 2.5% annual management fee that covers all costs of managing and protecting the Ether. This rate is higher than other Ethereum ETFs, making ETHE one of the pricier options out there.

Grayscale knows these fees are high, so they’ve created the Grayscale Ethereum Mini Trust. This new option comes with a much lower 0.15% fee. Better yet, they won’t charge any fees for six months or until it reaches AUD 3.06 billion in assets.

The company plans to move about 10% of ETHE’s AUD 15.29 billion to start the Mini Trust. This creates a cheaper option while keeping the original ETHE going.

Grayscale Ethereum Trust’s ideal investor profile

ETHE works best for specific types of investors. You might be a good fit if you’re:

1. A traditional investor who wants crypto exposure without dealing with exchanges or digital wallets
2. Someone who’s okay with paying higher fees for institutional backing and oversight
3. Looking to get Ethereum exposure through retirement accounts or traditional investments
4. An investor who values trading through regular brokerage accounts more than owning crypto directly

BlackRock iShares Ethereum Trust (ETHA)

BlackRock iShares Ethereum Trust (ETHA) has grown faster as a leading Ethereum ETF option since its launch. The world’s largest asset manager oversees this fund, which started trading on NASDAQ in June 2024.

BlackRock iShares Ethereum Trust overview

The iShares Ethereum Trust ETF wants to track Ethereum’s price performance and gives investors a simple way to invest in this digital asset. The fund has grown significantly, with assets under management reaching AUD 9.82 billion by July 2025. This makes it one of the largest Ethereum ETFs you can buy today.

ETHA showed impressive growth by accumulating over 2 million ETH, about 1.65% of Ethereum’s total circulating supply. This achievement proves that institutional investors want regulated Ethereum products. The ETF trades actively on NASDAQ with high liquidity, averaging over 24 million shares traded every 30 days.

Each basket contains 302.63 ETH, and every share represents approximately 0.00757 ETH. Investors can buy fractional amounts of Ethereum through their regular brokerage accounts without dealing with crypto exchanges or digital wallet management.

BlackRock iShares Ethereum Trust: Ethereum exposure method

The fund buys and holds actual Ethereum instead of using derivatives or futures contracts. Shares work as “a simple means of making an investment similar to an investment in ether” while eliminating “the obstacles represented by the complexities and operational burdens involved in a direct investment in ether”.

BlackRock uses information from a multi-year technology partnership with Coinbase Prime to keep the fund’s digital assets safe. This collaboration brings together BlackRock’s investment expertise and Coinbase’s specialised crypto storage systems to protect investors’ assets.

The fund combines investor funds to buy Ethereum directly, and all ETH is stored on Coinbase Prime. Investors don’t have to worry about setting up their storage, managing private keys, or finding trustworthy cryptocurrency exchanges.

SEC Delays BlackRock Ethereum ETF Decision

The US SEC postponed its decision on BlackRock’s request to allow in-kind redemptions for its iShares Ethereum Trust (ETHA) until August 26, 2025, using the whole 90-day review period. In-kind redemptions—common in traditional ETFs—enable investors to exchange ETF shares directly for the underlying asset (in this case, Ether) rather than cash, which can reduce costs and improve tax efficiency.

This delay affects not only BlackRock but also other prominent asset managers like Fidelity, VanEck, WisdomTree, Bitwise, and 21Shares, who have filed similar requests for their crypto ETFs. The SEC cited the need for more time to evaluate the proposed rule change and its implications.

The move comes amid broader regulatory uncertainty and leadership changes at the SEC, with newly confirmed Chair Paul Atkins potentially influencing future crypto ETF policies. While no firm timeline has been given for final decisions, analysts and SEC Commissioner Hester Peirce suggest that in-kind redemptions for crypto ETFs are likely to be approved eventually.

BlackRock iShares Ethereum Trust fee breakdown

ETHA comes with a competitive 0.25% expense ratio. Here’s how the fees break down:

BlackRock has reduced fees temporarily to 0.12% during the first year for the original AUD 3.82 billion in assets. This discount continues until July 23, 2025, making the fund more economical in its early stages.

The sponsor charges “accrued daily at an annualised rate equal to 0.25% of the net asset value of the Trust and is payable at least quarterly in arrears in U.S. dollars or in-kind or any combination thereof”.

BlackRock iShares Ethereum Trust ideal investor profile

ETHA works best for these types of investors:

1. Traditional investors who want crypto exposure without using crypto exchanges or managing digital wallets
2. People who trust BlackRock’s reputation as the world’s largest asset manager and Coinbase’s reliable custody
3. Investors searching for affordable ways to invest in Ethereum
4. Registered investment advisors (RIAs) and funds that must stick to regulated products instead of buying Ethereum directly

ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ)

The ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ) stands apart from spot ETF options. This ETF actively manages investments to track Ethereum through futures contracts. Launched on November 14, 2023, through collaboration with Cathie Wood’s ARK Invest and crypto-ETP specialist 21Shares, ARKZ gives investors a different way to get Ethereum market exposure.

ARKZ ETF Overview

ARKZ is an actively managed ETF traded on the Cboe BZX Exchange. Its main goal is capital appreciation. The fund manages AUD 8.12 million in assets, with 220,000 shares outstanding as of June 2025. Like Ethereum itself, the ETF shows high volatility. The 52-week price range moves from AUD 15.71 to AUD 46.12.

This Digital Assets category fund wants to boost performance by managing exposure to standard Ether futures contracts. Investors can trade ARKZ during regular US market hours through their brokerage accounts without dealing with cryptocurrency directly.

ARKZ pays quarterly dividends with a 2.59% yield. Year-to-date distributions total AUD 0.40. The ’40-Act fund structure ensures regulatory oversight while tracking Ethereum’s price movements.

ARKZ Fee Breakdown

The 0.70% expense ratio puts ARKZ in line with other crypto-futures ETFs. This matches ARK’s broader ETF lineup but stays below their usual 0.75% fee for active management.

The expense ratio exceeds some spot Ethereum ETFs because of active management and futures-based strategy costs. Investors should consider these fees against the benefits of how ARKZ manages roll yield in futures markets.

ARKZ ideal investor profile

ARKZ works best for investors who want regulated Ethereum exposure with specific priorities. The ETF serves:

1. Investors who prefer active management strategies over passive index tracking
2. Those seeking Ethereum price exposure without requiring direct custody of the cryptocurrency
3. Investors who cannot access spot Ethereum ETFs due to account restrictions or regulatory limitations
4. Traders looking for Ethereum exposure through standard brokerage pipelines without offshore KYC hurdles

ProShares Ether Strategy ETF (EETH)

When it launched on October 2, 2023, ProShares Ether Strategy ETF (EETH) became the market’s original Ether futures ETF. The fund offers a different way to get Ethereum exposure than spot ETFs. This active management approach lets investors track Ethereum’s price movements through regulated futures contracts instead of holding the cryptocurrency directly.

ProShares Ether Strategy ETF Overview

EETH trades on the NYSEARCA exchange, and we invested mainly in USD cash-settled, front-month ether futures contracts. The fund showed mixed results, with a total return of -9.51% in the last year. However, it has maintained a 27.16% average annual return since its start. Right now, EETH has about 1.27 million shares outstanding and sees daily trading volumes around 63,327 shares.

The ETF belongs to the Digital Assets category within the Currency asset class. Investors can access Ethereum-related investments through regular brokerage channels. The fund’s active management style allows quick adjustments to holdings based on market conditions—a valuable feature in the cryptocurrency market’s volatile nature.

ProShares Ether Strategy ETF fee breakdown

EETH charges a 0.95% expense ratio now, which is lower than its original fee structure. This special rate will stay in place until September 30, 2025.

These fees put EETH in the middle range of Ethereum ETF options. The rates are higher than spot ETFs but stay competitive among futures-based products.

ProShares Ether Strategy ETF’s ideal investor profile

EETH works best for specific types of investors:

1. People who want Ethereum price exposure through regular brokerage accounts
2. Investors who prefer futures-based strategies over direct cryptocurrency ownership
3. Those ready to accept tracking differences from spot Ethereum prices
4. Traders who know that ether futures behave differently from spot prices

CoinShares Valkyrie Bitcoin and Ether Strategy ETF (BTF)

The CoinShares Valkyrie Bitcoin and Ether Strategy ETF (BTF) distinguishes itself by giving investors exposure to both leading cryptocurrencies at once. Since its launch in October 2021, BTF has reached its three-year milestone as one of the trailblazing actively managed cryptocurrency ETFs.

CoinShares Valkyrie ETF Overview

BTF is an actively managed exchange-traded fund on Nasdaq with assets under management of AUD 36.68 million. The goal is to invest in bitcoin and Ether futures contracts while keeping cash reserves in high-quality securities to maintain liquidity. The fund has shown remarkable growth potential with returns of 34.8% in a single month and 87% in the last year.

The fund’s current NAV is AUD 15.13 with a premium/discount percentage of -0.12%. All but one of these holdings make up 100% of BTF’s concentrated portfolio.

CoinShares Valkyrie ETF ideal investor profile

BTF works best for investors who want cryptocurrency exposure without holding digital assets directly. The fund is perfect for:

1. Investors who want to explore cryptocurrencies but aren’t ready for spot ETFs
2. People looking to invest in both Bitcoin and Ethereum through one vehicle
3. Investors who prefer futures-based strategies over direct ownership
4. Those who need to diversify their portfolios during monetary policy changes

Franklin Ethereum Trust (EZET)

Franklin Ethereum Trust (EZET) launched on July 23, 2024. The trust offers investors an economical way to access regulated Ethereum exposure through its leading fee waiver programme.

Franklin Ethereum Trust Overview

The trust works as a passively managed ETF on the Cboe BZX Exchange and manages AUD 73.06 million in assets. EZET currently owns 17,844.72 Ether tokens and uses the CME CF Ether-Dollar Reference Rate – New York Variant as its standard. The fund aims to match Ether’s price performance before expenses.

The ETF makes crypto market access easier through a traditional investment vehicle. Franklin Templeton sees Ethereum’s ecosystem as “a novel, growing business model with a large addressable market and strong network effects”.

Franklin Ethereum Trust Fee Breakdown

The trust’s fee structure stands out as its most attractive feature:

Franklin Templeton will waive the 0.19% sponsor fee completely until January 31, 2025, for the first AUD 15.29 billion in fund assets.

Franklin Ethereum Trust’s ideal investor profile

EZET works best for:

• Investors who want easy, regulated Ethereum exposure without technical complexities
• People looking for low-cost investment vehicles
• Investors who can handle cryptocurrency volatility
• Portfolios that need diversification beyond traditional assets

Conclusion – Ethereum ETF

Investors can now access Ethereum, the second-largest cryptocurrency, through ETFs without owning digital assets directly. These ETFs come with different benefits based on their fees, exposure methods, and management. The Franklin Ethereum Trust leads the pack with its fee waiver, which makes it the most economical choice until January 2025. The Grayscale Ethereum Trust, while being well-established, charges 2.5%—way higher than its competitors.

BlackRock iShares, Invesco Galaxy, and Franklin Ethereum Trust are spot ETFs that hold actual Ethereum tokens. This gives investors direct exposure to price changes. ARK 21Shares, ProShares, and CoinShares Valkyrie take a different approach. They use derivative contracts, which might perform differently from spot prices.

Fees are quite important when choosing an ETF. Competition has pushed fees down, and they now range from 0.19% to 2.5%. Several providers have introduced temporary fee cuts, which create good opportunities for investors who want to keep costs low. Your choice of Ethereum ETF should match your investment goals, risk tolerance, and fee preferences.

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