iShares Ethereum Trust ETF Overview
- Fund Name
- iShares Ethereum Trust ETF
- Ticker
- ETHA
- Listing Exchange
- Nasdaq
- Fund Family / Issuer
- BlackRock / iShares
- Underlying Asset
- Ethereum
Additional details
- Exposure
- Spot ether held by the trust.
- Fund Structure
- Delaware statutory trust, not registered as an investment company under the Investment Company Act of 1940.
- Annual sponsor fee
- 0.25%
- Fee Assessment Base
- Net asset value, as defined for the sponsor fee.
- Effective Annual Charge
- 0.25%
- Benchmark
- CME CF Ether-Dollar Reference Rate – New York Variant
- Custody Appointments
- Coinbase Custody Trust Company; Primary ether custodian; Holds the ether as the trust’s property and is liable for losses caused by its negligence, with a duty to replace lost ether.Anchorage Digital Bank; Additional ether custodian; Holds the ether as the trust’s property and is liable for losses caused by its negligence, with a duty to replace lost ether. The sponsor has no plans to move any of the trust’s ether to it.
- Retail Asset Redemption
- Individual shareholders cannot redeem shares for ether sent to a wallet. Authorized participants create and redeem blocks of shares with the trust.
- 30-day Median Bid/Ask Spread
- 0.05%As of Sep 23, 2026
- Fund Assets
- USD 9,689,012,528As of Sep 23, 2026
Net assets
- Staking
- No
- Seed-basket purchase
- May 21, 2024
- First exchange trading
- July 23, 2024
- Reverse share split
- 1-for-3, effective Oct. 6, 2026
- Other investor costs
- Bid-ask spread and any broker charges are separate
- Official website
- iShares fund page
iShares Ethereum Trust ETF Screenshots
Screenshot 1 of 8
iShares Ethereum Trust ETF Pros and Cons
Pros
- Ether exposure in a brokerage account
- No personal wallet or keys to manage
- Custodians answer for ordinary negligence
Cons
- No staking rewards
- No ether withdrawals to your wallet
- Share price can differ from asset value
Who ETHA Is For
ETHA fits investors who want ether exposure as a security and are content to leave storage to the fund’s service providers.
What ETHA Is and How It Works
ETHA holds ether so that its shares follow ether’s price, less expenses. It holds the ether itself and uses no futures contracts.
Shareholders own an interest in the trust. They can hold and trade that security but do not control the private keys to its ether.
The trust’s prospectus rules out staking. Neither the trust, the sponsor nor the custodian will use the trust’s ether in staking or to earn any other income, so every return comes from ether’s price.
Benchmark and How to Check Tracking
ETHA values its ether using the CME CF Ether-Dollar Reference Rate – New York Variant, from CF Benchmarks. The benchmark combines trades from qualifying ether-dollar markets into a daily reference price aligned with 4:00 pm New York time.
Net asset value, or NAV, is the value of the trust’s assets after liabilities, divided by the number of shares. To check tracking, compare the fund’s NAV return with the benchmark over matching dates. Comparing a closing value with an ether quote from another hour introduces a timing difference that has nothing to do with fees.
Is ETHA Safe? Custody and Investment Risks
A fall in ether’s market price can substantially reduce an ETHA holding. The Nasdaq listing and BlackRock name offer no protection against that decline.
Who Holds ETHA’s Ether?
ETHA names Coinbase Custody Trust Company as its ether custodian. Anchorage Digital Bank was appointed as an additional custodian in 2025.
The report for the quarter ended June 30, 2026 says the sponsor has no plans to move any of the trust’s ether to Anchorage. Its appointment should not be read as an equal split or proof that custody is spread across two firms.
Coinbase also acts as the trust’s prime execution agent. Ether held there for trading is not segregated in the same way as the custody balance, and a trade-credit lien can reach the trust’s ether until any short-term credit is repaid.
Fund Structure and Regulatory Status
ETHA is a Delaware statutory trust and is not registered under the Investment Company Act of 1940. Calling it an ETF does not give it the same regulatory framework as a fund registered under that act.
ETHA Fees and Trading Costs
The sponsor fee is one part of what ETHA costs. Buying and selling the shares adds costs of their own.
Applying 0.25% to a hypothetical $10,000 held at a constant value for a full year gives $25. Your costs move with the value of the holding, and trading costs come on top.
BlackRock cut the fee to 0.12% on the first $2.5 billion of assets for the fund’s first 12 months, from July 23, 2024. That waiver has ended, and the full 0.25% applies now.
Buying and Selling ETHA
ETHA trades on Nasdaq. Brokerage access varies by account and location. Confirm the fund’s full name and ticker in your account, and check whether fractional shares and your account type are supported.
A 1-for-3 reverse split took effect at the open on October 6, 2026. Each three shares became one, with the NAV per share adjusted proportionately. The split itself did not change the aggregate value of a holding, apart from fractional interests redeemed for cash.
Share Price and NAV
The share price can sit above NAV, called a premium, or below it, called a discount. When authorized participants create or redeem shares with the trust, the market price tends to move back toward NAV. Check the current bid and ask prices and any broker commission before you trade.
Ether Withdrawals and Retail Shares
Buying a share does not put ether into a wallet you control. Retail investors buy and sell shares on the market. Authorized participants create and redeem blocks of 40,000 shares with the trust, in cash or in ether. That process gives an ordinary shareholder no way to withdraw ether personally.
Where to buy ETHA
Explore broker options for iShares Ethereum Trust ETF.
ETHA — Nasdaq · United States
Robinhood
U.S. accounts, subject to account eligibility and trading permissions.
Eligibility details for Robinhood
- Account access
- U.S. self-directed securities brokerage through Robinhood Financial LLC; check IRA and fractional-share eligibility in your account
- Eligibility
- U.S. accounts, subject to account eligibility and trading permissions.
- Access notes
- Trade ETHA shares through Robinhood’s U.S. securities brokerage.
Webull
U.S. accounts, subject to account eligibility and trading permissions.
Eligibility details for Webull
- Account access
- U.S. self-directed securities brokerage through Webull Financial LLC; check IRA and fractional-share eligibility in your account
- Eligibility
- U.S. accounts, subject to account eligibility and trading permissions.
- Access notes
- Trade ETHA shares through Webull’s U.S. securities brokerage.
Availability depends on country and account.
ETHA Alternatives
Holding ether in a personal wallet is one alternative for investors who need to make transfers or control the keys. That choice brings responsibility for the wallet and for securing access to the coins.
ETHA vs ETHB
BlackRock runs a second ether fund, the iShares Staked Ethereum Trust ETF (ETHB), which stakes most of its ether. The two share a sponsor, custodians and benchmark.
| Comparison | ETHA | ETHB |
|---|---|---|
| Annual sponsor fee | 0.25% | 0.25%, cut to 0.12% on the first $2.5 billion until March 2027 |
| Staking | No | Yes, 78.48% of ether staked on Sep. 23, 2026 |
| Cut of gross staking rewards | None | 10% |
ETHB’s staking can add rewards, but also introduces validator and slashing risk. ETHA avoids that exposure by not staking.
Ethereum ETF Pillar Scores
- Fund fees 24% weight Ongoing sponsor charge before temporary waivers, fee basis, covered expenses, extra fund costs, and waiver terms.7.9 / 10
- Trading spread 20% weight Median difference between bid and ask prices over 30 days.9.0 / 10
- Fund size 8% weight Value of the fund’s assets.10.0 / 10
- Staking & reward sharing 20% weight Share of fund ETH staked and the share of gross staking rewards retained for shareholders after all reward deductions.0.0 / 10
- Custody & asset rights 16% weight Fund ownership, asset records, custody-loss liability, withdrawal rights, and recourse for provider-caused slashing.10.0 / 10
- Reporting & transparency 12% weight Required reports, public ETH and staking holdings, benchmark, NAV, and management's disclosure-control conclusions.10.0 / 10
Final Verdict
ETHA suits investors who want ether exposure through BlackRock’s iShares range and accept the limits of holding brokerage shares. Its sponsor fee is 0.25% a year, and its custody arrangements permit claims for negligent safekeeping, subject to contract limits. The fund does not stake, so it avoids validator exposure and earns no staking rewards. Investors seeking those rewards can compare the separate ETHB fund. ETHA cannot supply ether for transfers to a personal wallet or for staking under an investor’s own control.
Best For
Investors who want ether exposure in a brokerage account from the largest US spot ether fund.
Avoid If
- You want staking rewards, need to withdraw ether, or want to hold your own keys.
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