The iShares Ethereum Trust ETF, ticker ETHA, is BlackRock's spot Ethereum ETF that trades on NASDAQ. It gives everyday investors direct price exposure to ether without the hassle of managing a cryptoThe iShares Ethereum Trust ETF, ticker ETHA, is BlackRock's spot Ethereum ETF that trades on NASDAQ. It gives everyday investors direct price exposure to ether without the hassle of managing a crypto

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iShares Ethereum Trust ETF (ETHA): Ticker, Price, and Key Details

Author: James Mitchell

Intermediate

Sep 21, 2026James Mitchell

7 min

#Bitcoin (BTC)#Intermediate

EL$0.001821+4.23%

The iShares Ethereum Trust ETF, ticker ETHA, is BlackRock's spot Ethereum ETF that trades on NASDAQ.

It gives everyday investors direct price exposure to ether without the hassle of managing a crypto wallet.

In this guide, you will learn ETHA's current price, expense ratio, fund structure, holdings, and how it compares to the Grayscale Ethereum Trust — everything you need to understand this product in one place.

New to Ethereum? Our complete guide to Ethereum covers everything from basics to investment strategies.
Looking at all Ethereum ETF options? Read our complete Ethereum ETF guide.

Key Takeaways

The iShares Ethereum Trust ETF (ETHA) is a spot Ethereum ETF managed by BlackRock that trades on NASDAQ under the ticker symbol ETHA.
ETHA's total expense ratio is 0.25% per year, with no additional acquired fund fees or other expenses.
The fund holds a single asset — physical ether (ETH) — custodied through Coinbase Prime, one of the largest institutional digital asset custodians.
ETHA is not registered under the Investment Company Act of 1940 and does not pay distributions or staking rewards of any kind.
The fund launched on June 24, 2024, and tracks the CME CF Ether-Dollar Reference Rate – New York Variant as its pricing benchmark.
Compared to the Grayscale Ethereum Trust, ETHA offers a significantly lower expense ratio and tighter premium/discount spreads.

ETHA Ticker Symbol, Price, and Key Facts

The iShares Ethereum Trust ETF trades under the ticker symbol ETHA on the NASDAQ exchange.

As of February 27, 2026, ETHA's NAV stands at $14.53, with a closing price of $14.52 — reflecting a tight premium/discount spread of just -0.05%.

The fund's 52-week range runs from $11.09 to $36.46, showing just how much ETH prices can swing within a single year.

Net assets of the fund currently sit at $6.07 billion, with 417,560,000 shares outstanding and a 30-day average volume of approximately 49.2 million shares — with 417,560,000 shares outstanding and a 30-day average volume of approximately 49.2 million shares.

The benchmark index tracked is the CME CF Ether-Dollar Reference Rate – New York Variant, with a current benchmark level of $1,923.38.

ETHA launched on June 24, 2024, making it a relatively new product still building its performance track record.

For the complete ETF landscape, read our guide on Ethereum ETFs, top funds, staking options, and how to invest in them
ETHA tracks ETH spot — see our analysis on how much Ethereum is worth today and what the ETH price means

iShares Ethereum Trust ETF Expense Ratio and Fee Structure

One of ETHA's biggest selling points is its straightforward, low-cost fee structure.

The management fee is 0.25% per year, which also happens to be the total expense ratio — there are no acquired fund fees, and other expenses are reported at 0.00% as of the current prospectus.

To put this simply: for every $1,000 you invest in ETHA, you pay roughly $2.50 per year in fees.

It is also worth noting that ETHA pays no distributions — the fund does not generate yield or staking rewards, so the expense ratio represents your only ongoing cost.

ETHA is managed by BlackRock, the world's largest asset manager with more than $10.5 trillion in AUM as of March 31, 2024.

BlackRock also offers ETHB — see our BlackRock Ethereum ETF explained guide covering ETHA, ETHB, and how they work

How the iShares Ethereum Trust ETF Works: Holdings and Structure

What Does ETHA Actually Hold?

ETHA holds a single asset: physical ether (ETH), custodied through Coinbase Prime, which is one of the largest institutional digital asset custodians with $171 billion in assets under custody as of March 31, 2024.

As of February 27, 2026, the fund holds approximately 3,119,996 ETH, with a market value of $6.04 billion representing 100% of fund weight.

The remaining position is a minimal $12,245 USD cash balance, accounting for essentially 0% of the portfolio.

Is ETHA a Registered Investment Company?

This is an important detail that surprises many first-time ETF investors.

ETHA is not registered under the Investment Company Act of 1940, which means it is not subject to the same regulatory protections that apply to traditional mutual funds or standard registered ETFs.

It is also not classified as a commodity pool under the Commodity Exchange Act.

Investors should read ETHA's prospectus carefully before investing, as the fund's legal structure carries different risk disclosures compared to conventional ETFs.

How Is ETHA's NAV Calculated?

ETHA's net asset value is determined using the CME CF Ether-Dollar Reference Rate – New York Variant as its pricing benchmark.

The indicative basket Ether amount as of February 27, 2026 is 302.10 ETH per basket, with the basket amount valued at $581,069.76.

The fund's valuation price may differ slightly from the vendor price used for portfolio reporting, as the two are determined at different market close times.

iShares Ethereum ETF vs Grayscale Ethereum Trust: Key Differences

Fund Structure

ETHA is a spot Ethereum ETF that trades on NASDAQ with intraday liquidity, meaning you can buy and sell shares throughout the trading day just like a stock.

The Grayscale Ethereum Trust (ETHE), by contrast, originally launched as a private placement trust and only converted to an ETF structure more recently, which affects how closely its share price tracks the underlying ETH price.

ETHA's premium/discount to NAV as of February 27, 2026 is just -0.05%, meaning its market price stays extremely close to the actual value of the ETH it holds.

ETHA is a spot Ethereum ETF that trades on NASDAQ with intraday liquidity, just like a stock.

The Grayscale Ethereum Trust originally launched as a private placement trust and later converted, which historically caused its share price to deviate significantly from the underlying ETH price.

ETHA's premium/discount to NAV currently sits at -0.05%, meaning its market price tracks the actual ETH value very tightly.

Grayscale's trust is another option — read our article on what the Grayscale Ethereum Trust (ETHE) is, its fees, and how it works

Fee Comparison

ETHA charges a 0.25% annual expense ratio.

Grayscale's Ethereum Trust operates with a different fee structure — investors should check Grayscale's official prospectus for current expense ratio details before comparing.

For cost-conscious investors, ETHA's fee structure represents a meaningful long-term advantage when holding for extended periods.

Liquidity and Volume

ETHA's 30-day average trading volume is approximately 49.2 million shares per day, reflecting strong institutional and retail participation.

Higher liquidity generally means tighter bid/ask spreads — ETHA's 30-day median bid/ask spread is just 0.07%, which keeps trading costs low for active investors.

Investors who prioritize ease of entry and exit will find ETHA's liquidity profile notably strong for a digital asset product of this kind.

FAQ

What is the ticker for the iShares Ethereum Trust ETF?

The iShares Ethereum Trust ETF trades under the ticker ETHA on the NASDAQ exchange.

What is ETHA's expense ratio?

ETHA charges a 0.25% annual management fee, with a total expense ratio of 0.25% and no additional fees.

When did the iShares Ethereum Trust ETF launch?

ETHA launched on June 24, 2024.

What is the ISIN for the iShares Ethereum Trust ETF?

The CUSIP for ETHA is 46438R105; the ISIN can be verified directly on BlackRock's official iShares product page.

Does ETHA pay distributions or staking rewards?

No — ETHA has no distribution frequency and does not offer staking rewards or yield of any kind.

What is ETHA's current price?

ETHA's NAV as of February 27, 2026 is $14.53, with a closing market price of $14.52.

Conclusion

The iShares Ethereum Trust ETF (ETHA) is one of the most accessible ways for traditional investors to get exposure to Ethereum's price performance without dealing with wallets, private keys, or crypto exchanges.

With a competitive 0.25% expense ratio, strong liquidity, tight bid/ask spreads, and the institutional backing of BlackRock, ETHA makes a compelling case for investors who want regulated, brokerage-accessible ETH exposure.

That said, ETHA is not a registered investment company, pays no distributions, and its YTD performance of -31.55% is a clear reminder that crypto volatility cuts both ways.

If you want to explore Ethereum beyond ETFs — including spot trading, staking, or converting between assets — MEXC offers a full suite of tools for hands-on crypto investors.