Best Ethereum (ETH) ETFs (2025): EZET, ETHW, ETHV, ETHA, FETH, QETH, CETH

Evaluating spot ETH ETFs in 2025 to determine which are best in terms of management fees, security, AUM/volume, etc.

For many, the idea of buying Ethereum (ETH) directly through platforms like Coinbase, Kraken, or Binance is too inefficient: sign up/KYC, tax forms, security set up, etc.

Although purchasing ETH is straightforward, the next steps: deciding whether to stake it, leave it on the exchange, transfer it to a cold-storage wallet, etc. – can introduce a lot of complexity and risk that not everyone is prepared to handle.

Fortunately, for those who aren’t tech-savvy but still want to invest in Ethereum, there’s a simpler option: Ethereum ETFs.

Ethereum exchange-traded funds (ETFs) offer a regulated, hassle-free way to gain exposure to the world’s leading layer-1 blockchain by market cap.

The U.S. Securities and Exchange Commission (SEC) approved the first spot Ethereum ETFs on May 23, 2024. These funds officially began trading on July 23, 2024, with major financial institutions like BlackRock, Fidelity, and Grayscale leading the charge.

On their first trading day, Ethereum ETFs saw a combined $108 million in investments, with BlackRock’s offering attracting a standout $267 million—highlighting the demand for a simpler, more accessible way to invest in Ethereum.

Best Ethereum ETFs: Spot ETH ETF Rankings (2025)

I’ve put together a list of what I consider to be the best Ethereum ETFs for 2025.

Keep in mind that “best” is subjective – certain ETFs are better suited to those who value lower fees, others may be better suited to those who want high liquidity (AUM), and some might be downright dumb choices.

For this 2025 ranking, I factored in: long-term fees (post-discounts); AUM & liquidity; brand trust & regulatory standing; custody & security; and market position & features.

Obviously if you value the highest AUM from a major brand it makes sense to buy ETHA (BlackRock) or FETH (Fidelity).

The best overall value (post discounts) is likely Grayscale’s Ethereum Mini Trust ETF (ETH) but do not confuse it with Grayscale’s Ethereum Trust (ETHE).

Note: We will likely need to reevaluate this list if “staking rewards” are added to ETF dynamics and/or if fees fluctuate in the future.

Related: Best Bitcoin (BTC) ETFs of 2025

1. Grayscale Ethereum Mini Trust ETF (ETH)

ETH claims the top spot for fee-sensitive investors, boasting the lowest long-term fee (0.15%). While Grayscale’s crypto heritage was once tied to trust structures with premiums/discounts, this ETF format eliminates those issues. Over time, it could attract a strong following among cost-conscious, crypto-savvy investors.

• Annual Fee (post-waiver): 0.15%

• Estimated Current AUM: ~$30M (still growing as investors gain ETF confidence)

• Custody & Security: Coinbase Custody (top-tier, multi-sig cold storage)

• Brand & Reputation: High in crypto, but less mainstream ETF pedigree

• Investor Fit: Fee-sensitive, long-term holders who value minimal expenses and are comfortable with a newer ETF entrant proving itself

2. Franklin Ethereum ETF (EZET)

EZET leverages Franklin Templeton’s deep asset management roots and enjoyed a zero-fee intro phase to build momentum. At 0.19%, its stable long-term fee is highly competitive, appealing to traditional investors who trust a legacy brand.

• Annual Fee (post-waiver): 0.19%

• Estimated Current AUM: ~$200M (steady inflows from fee-conscious traditional investors)

• Custody & Security: Coinbase Custody (secure, regulated)

• Brand & Reputation: Very high in traditional finance, credible global name

• Investor Fit: Investors seeking a blend of low fees, recognizable legacy brand, and solid reputation

3. Bitwise Ethereum ETF (ETHW)

ETHW aligns with crypto enthusiasts. Bitwise’s promise to donate 10% of profits to Ethereum development resonates with mission-driven investors. Though not as large as top brands, a 0.20% fee and crypto specialization make it unique.

• Annual Fee (post-waiver): 0.20%

• Estimated Current AUM: ~$80M (gradually attracting niche crypto believers)

• Custody & Security: Coinbase Custody (industry standard)

• Brand & Reputation: High in crypto space, less known among general ETF investors

• Investor Fit: Ethereum ecosystem supporters who value crypto expertise and ethical engagement

4. VanEck Ethereum ETF (ETHV)

ETHV marries VanEck’s traditional ETF pedigree with a 0.20% fee and enhanced custodial measures (dual custody, cold storage). While not a household name like iShares or Fidelity, VanEck’s reputation in thematic and commodity ETFs lends credibility.

• Annual Fee (post-waiver): 0.20%

• Estimated Current AUM: ~$100M (attracting security-conscious, experienced ETF investors)

• Custody & Security: Coinbase plus additional cold storage solutions

• Brand & Reputation: Strong in niche ETFs, respected in institutional circles

• Investor Fit: Security-minded investors who value a known ETF issuer with careful custody arrangements

5. BlackRock iShares Ethereum ETF (ETHA)

Part of BlackRock’s powerhouse lineup, ETHA guarantees liquidity, trust, and huge distribution. Its 0.25% fee is higher, but unmatched brand recognition and scale often justify the cost. Institutions and mainstream ETF investors flock here first.

• Annual Fee (post-waiver): 0.25%

• Estimated Current AUM: ~$500M (leading early inflows due to iShares brand)

• Custody & Security: Coinbase Prime (robust, institutional-grade)

• Brand & Reputation: Extremely high—BlackRock is the world’s largest asset manager

• Investor Fit: Investors prioritizing brand trust, liquidity, and a “no surprises” approach over the absolute lowest fee

6. Fidelity Ethereum Fund (FETH)

Fidelity’s self-custody approach reduces single-custodian risk. At 0.25%, its fee matches iShares, though initial AUM may be lower. Fidelity’s retail following and institutional credibility still ensure steady inflows.

• Annual Fee (post-waiver): 0.25%

• Estimated Current AUM: ~$350M (solid following from Fidelity loyalists)

• Custody & Security: Fidelity Digital Assets (self-custody diversification)

• Brand & Reputation: Very high, household financial name

• Investor Fit: Fidelity clients and those who value a diversified custody model within a highly trusted legacy manager

7. 21Shares Core Ethereum ETF (CETH)

21Shares’ European crypto ETP expertise doesn’t immediately translate to large U.S. inflows. At 0.21%, the fee is moderate, but limited brand recognition stateside keeps AUM modest.

• Annual Fee (post-waiver): 0.21%

• Estimated Current AUM: ~$40M (struggling to gain traction in U.S. markets)

• Custody & Security: Anchorage, BitGo NY Trust, Coinbase (multiple custodians)

• Brand & Reputation: Known in Europe, low U.S. profile

• Investor Fit: Niche investors comfortable with smaller players and seeking broad custody diversification

8. Invesco Galaxy Ethereum ETF (QETH)

QETH leverages Invesco’s and Galaxy’s combined credentials, but at 0.25%, it faces stiff competition from iShares and Fidelity. Good for diversification, but no distinct advantage in fees or brand heft.

• Annual Fee (post-waiver): 0.25%

• Estimated Current AUM: ~$50M (overshadowed by bigger, cheaper players)

• Custody & Security: Coinbase Custody

• Brand & Reputation: Strong but not top-tier in crypto credibility compared to Fidelity/iShares

• Investor Fit: Those seeking an alternative to the big names but willing to pay similar fees

9. Grayscale Ethereum Trust (ETHE) (Non-ETF)

ETHE’s legacy trust structure and a steep 2.50% fee leave it obsolete compared to cheaper ETFs. Previously dominant, it now appeals only if trading at a significant NAV discount.

• Annual Fee: 2.50%

• AUM: ~$5B+ (legacy assets, likely shrinking)

• Custody & Security: Older trust framework, less transparent than ETFs

• Brand & Reputation: Known for early crypto exposure but overshadowed by better ETF options

• Investor Fit: Specialty situations (deep NAV discounts), not a standard long-term holding

Spot ETH ETF Lineup (2025): Differentiators to Consider

A.) Lowest Fees & Crypto Expertise

Grayscale Ethereum Mini (ETH) – 0.15%

• Why Choose It: Unbeatable long-term fee (post-waiver), credible crypto pedigree from Grayscale, and solid custodial security through Coinbase.

• Drawbacks: Slightly newer ETF structure, so still building mainstream trust.

Franklin Ethereum ETF (EZET) – 0.19%

• Why Choose It: Merges competitive fees with Franklin Templeton’s global brand, striking a strong balance between cost and brand recognition.

• Drawbacks: Not quite the rock-bottom fee of Grayscale, but still cheaper than major brands like BlackRock or Fidelity.

B.) Balanced Mid-Tier

Bitwise Ethereum ETF (ETHW) – 0.20%

• Unique Angle: Crypto-centric expertise with a portion of profits donated to Ethereum’s open-source development. Appeals to socially conscious/crypto-enthusiast investors who want to support the ecosystem.

• Potential Issue: Lower AUM than leading ETFs (though growing); brand still overshadowed by bigger traditional names.

VanEck Ethereum ETF (ETHV) – 0.20%

• Unique Angle: Traditional ETF pioneer known for precious metals and commodity funds, now applying that expertise to Ethereum. Some use dual-custody or enhanced security features.

• Potential Issue: Current AUM lags behind top-tier competitors; marketing push less visible than household names.

C.) Top-Tier Brand & Stability

iShares Ethereum ETF (ETHA) – 0.25%

• Why Choose It: BlackRock’s massive brand, best-in-class liquidity, and extensive distribution channels. Ideal for large institutions or brand-loyal investors.

• Trade-Off: Higher fees versus cheaper ETFs; mostly appeals to those who prioritize reliability over cost.

Fidelity Ethereum Fund (FETH) – 0.25%

• Why Choose It: Fidelity’s self-custody approach via Fidelity Digital Assets adds extra security diversification. Great for investors already embedded in Fidelity’s ecosystem.

• Trade-Off: Fee remains at the higher end, though the brand trust and operational excellence are hard to match.

D.) Niche & Diversification Picks

21Shares Core Ethereum ETF (CETH)

• Fee: 0.21% post-waiver; currently quite small AUM. 21Shares is known for pioneering crypto ETPs in Europe.

• Drawbacks: Less liquidity and visibility in the U.S. market.

Invesco Galaxy Ethereum ETF (QETH)

• Fee: ~0.25%, moderate AUM.

• Why Choose It: A collaboration between a recognized ETF provider (Invesco) and a crypto-native partner (Galaxy). Might suit those who want a secondary big brand besides BlackRock/Fidelity.

• Drawbacks: Lacks the scale or promotional vigor of the top-tier options.

E.) Legacy Holdover

Grayscale Ethereum Trust (ETHE) – 2.50%

• Why Avoid It: High fee and “trust” structure are outdated in a competitive ETF landscape. Often trades at large NAV discounts/premiums.

• Exceptions: Might be worth a look only if trading at an extreme discount, but otherwise overshadowed by true ETFs with lower fees and better liquidity.

Ideal Ethereum ETFs for Specific Investors

Frequent Traders

• Recommended: BlackRock’s iShares ETHA or Fidelity FETH

• Why: High trading volumes, tight spreads, and broad distribution through major brokerage platforms.

Buy & Occasional Take Profits

• Recommended: Franklin EZET or Bitwise ETHW

• Why: Lower long-term fees than the big brands, plus decent liquidity. EZET has brand heft; ETHW supports Ethereum’s ecosystem while still offering mid-range fees.

Short-Term Momentum Investors (2025)

• Recommended: VanEck ETHV or Invesco QETH

• Why: Both can be solid for short-term trades. Fees are mid-tier, and they maintain sufficient liquidity. You’re not paying the absolute lowest fee, but you get recognized sponsor credibility.

Maximum Security & Peace of Mind

• Recommended: Fidelity FETH (self-custody) or VanEck ETHV (dual custody)

• Why: FETH uses Fidelity Digital Assets, reducing reliance on a single custodian. VanEck’s enhanced/cold storage approach can add an extra layer of reassurance.

Long-Term HODLers

• Recommended: Grayscale Ethereum Mini (ETH) or Franklin EZET

• Why: Minimal fees (0.15% or 0.19% long-term) reduce expense drag on a buy-and-hold strategy. Both have reputable sponsors and are likely to remain stable over time.

Why Ethereum (ETH) ETFs Make Sense for Many Investors

Many investors use trading platforms like Robinhood or brokerages like Schwab and Fidelity but don’t want to bother with a crypto exchange (due to lower trust in security measures or the hassle of setting up a new account & verifying info.).

• No Tech Expertise Required: You gain exposure to Ethereum without the hassle of managing private keys, wallets, or complicated exchanges.

• Lower Risk vs. Altcoins: Ethereum, as the second-largest crypto by market cap, has relatively less volatility compared to smaller projects.

• Simplicity & Convenience: Investors can hold ETH exposure in traditional brokerage accounts, making it easier to track performance and manage taxes than self-custody.

Disadvantages of ETH ETFs vs. Self-Custody

1. No Staking Rewards

• Issue: Most ETFs don’t support staking, so holders miss out on potential yield from Ethereum’s Proof-of-Stake network.

• Future Possibilities: Some issuers hint at staking integration down the line.

2. Management Fees

• Issue: Even the cheapest ETFs (0.15%–0.20%) create a drag on long-term gains. Self-custody is “free” aside from transaction fees.

3. AUM & Liquidity Concerns

• Issue: Certain ETFs still have relatively low AUM, resulting in wider bid-ask spreads for smaller products like 21Shares CETH or Invesco QETH.

What Sucks About Ethereum (ETH) ETFs in 2025?

• No Staking Yet: U.S. regulations currently limit staking within ETFs, potentially denying investors extra yield.

• Regulatory Complexities: Some products are not registered under the Investment Company Act of 1940, so they lack the same protections as typical ’40 Act funds.

• Fees: While cheaper than legacy trusts, fees remain higher than many equity ETFs and can weigh on returns over the long term.

Overall: Which Are the Best Ethereum ETFs in 2025?

Once again… “best” is subjective here. You need to figure out what is best for you if you want spot ETH exposure via an ETF.

Perhaps in early 2025 you may want to take advantage of the zero fees for certain ETFs if you plan on selling/trading within 6-12 months.

If you are in it for the long-term, you may want to simply opt for Grayscale Ethereum Mini due to its lowest fees (0.15%).

If you value “big brand” reputation, it makes sense to opt for BlackRock (iShares) or Fidelity.

1. Best Overall (Lowest Fee & Credible Brand)

   • Grayscale Ethereum Mini (ETH) – 0.15%: Minimal fee drag, solid crypto heritage.

   • Franklin Ethereum (EZET) – 0.19%: Near-minimal fee, top-tier traditional brand trust.

2. Mid-Tier Gems

   • Bitwise Ethereum (ETHW) – 0.20%: Crypto expertise plus ecosystem support.

   • VanEck Ethereum (ETHV) – 0.20%: Reputable ETF pioneer with enhanced security angles.

3. For Maximum Liquidity & Traditional Feel

   • iShares ETHA or Fidelity FETH (both 0.25%): The biggest brand names, massive distribution, and potentially better legal recourse in catastrophic scenarios.

4. Niche or Specialized

   • 21Shares CETH and Invesco QETH: Smaller, more specialized products still finding their footing.

5. Avoid (Unless Special Circumstances)

   • ETHE: Outdated trust structure, high fees, and NAV discounts overshadow its once-dominant market presence.

Final Take: The “best” Ethereum ETF depends on your priorities—cost leadership, brand trust, unique differentiators, or top-tier liquidity and stability. Each of these ETFs offers something distinct, ensuring nearly every type of investor can find a suitable Ethereum investment vehicle in 2025.