ETF Evaluator:
Grayscale Ethereum Staking ETF (ETHE)
Follow This ETF
(as of Jul 31)
Best Performing in Digital Assets Over the Last Year
| 899.4% | Grayscale Zcash Trust (ZEC) () |
| 108.9% | ProShares UltraShort Bitcoin ETF (SBIT) |
| 14.8% | Simplify US Equity PLUS Bitcoin Stgy ETF (SPBC) |
| 6.7% | ProShares Short Ether ETF (SETH) |
| 5.6% | Nicholas Crypto Income ETF (BLOX) |
Risk
Index
Risk
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ETF Details
Grayscale Ethereum Staking ETF Overview
Grayscale Ethereum Staking ETF (ETHE) is a passively managed Miscellaneous Digital Assets exchange-traded fund (ETF). Grayscale launched the ETF in 2017.
The investment seeks to reflect the value of Ether held by the Trust, determined by reference to the index Price, less the Trust’s expenses and other liabilities.
While an investment in the Shares is not a direct investment in Ether, the Shares are designed to provide investors with a cost-effective and convenient way to gain investment exposure to Ether.
About Grayscale Ethereum Staking ETF (ETHE)
There are 1 members of the management team with an average tenure of 8.55 years: Management Team (2017). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: CoinDesk Ether Price PR USD index with a weighting of 100%. Grayscale Ethereum Staking ETF has 1 securities in its portfolio. The top 10 holdings constitute 100.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Grayscale Ethereum Staking ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Grayscale Ethereum Staking ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Grayscale Ethereum Staking ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $522 million average for the Digital Assets category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ETHE Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Grayscale Ethereum Staking ETF expense ratio is high compared to funds in the Digital Assets category. Grayscale Ethereum Staking ETF has an expense ratio of 2.50%, which is 149% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Grayscale Ethereum Staking ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 85% for the Digital Assets category.
Recently, in the month of June 2026, Grayscale Ethereum Staking ETF returned -21.8%, which earned it a grade of D, as the Digital Assets category had an average return of -18.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Grayscale Ethereum Staking ETF has a trailing yield of 1.39%, which is below the 17.02% category average.
The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Grayscale Ethereum Staking ETF Grades
Year to date, the ETF has returned -47.2%, 14.8 percentage points worse than the category, which translates into a grade of F. The fund has returned -38.3% over the past year (grade of B), -11.6% over the past three years (grade of D) and -10.1% per year over the past five years (grade of B).
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ETHE Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ETHE Return (NAV) | -21.8% | -25.0% | -38.3% | -11.6% | -10.1% | na |
| ETHE Return (Price) | -21.8% | -25.1% | -38.3% | 9.0% | -10.5% | na |
| NAV +/- Price Return | -0.048% | 0.088% | 0.030% | -20.609% | 0.360% | na |
| Digital Assets Avg | -18.3% | -15.1% | -30.3% | 3.0% | -19.1% | 53.7% |
| ETHE Grade (NAV) | D | F | B | D | B | na |
| +/- Category (NAV) | -3.5% | -9.8% | -8.0% | -14.6% | 9.0% | na |
| ETHE Tax-Cost Ratio | na | na | 0.3% | 0.1% | 0.1% | na |
ETHE Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ETHE Return (NAV) | -47.2% | -13.1% | 27.3% | 87.9% | -68.7% | 391.1% | 392.6% | -5.9% | -82.1% | na | na |
| ETHE Return (Price) | -47.2% | -13.0% | 44.1% | 308.4% | -85.3% | 108.8% | 381.6% | -91.4% | 0.0% | na | na |
| NAV +/- Price Ret | -0.001% | -0.002% | 0.618% | 2.507% | 0.241% | -0.722% | -0.028% | 1455.4% | -100.0% | na | na |
| Digital Assets Avg | -32.4% | -11.3% | 63.4% | 159.0% | -73.9% | 199.4% | 175.1% | 11.8% | -81.4% | 1391.4% | 119.9% |
| ETHE Grade (NAV) | F | C | D | C | C | B | A | D | D | na | na |
| +/- Category | -14.8% | -1.8% | -36.1% | -71.1% | 5.2% | 191.7% | 217.6% | -17.7% | -0.6% | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | 71.4% |
| Category Risk Index: | 0.79 |
| Category Risk Rating: | Average |
| Total Risk Index: | 5.87 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 1.4% |
| Total Assets: | $ 1,223 Mil |
| Share Class Assets: | $ 1,223 Mil |
| Turnover: | na |
| Expense Ratio: | 2.50% |
| Index Fund: | Yes |
| Index Tracked: | CoinDesk Ether Price PR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 8.6 years | |||
| Average Tenure: 8.6 years | |||
| Managers (Year): Team Management (2017) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 1 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 100.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Grantor Trust |
| Fund Family: | Grayscale |
| Phone Number: | 212-668-1427 |
| Website: | |
| Inception Date: | December 14, 2017 |
Expenses and Fees
| Expense Ratio (%): | 2.50% (Rating: High) |
| Category Average Expense Ratio (%): | 1.00% |
