- ISIN
- US3896381072
- CUSIP
- 389638107
- Issuer
- Grayscale
- Inception Date
- Dec 14, 2017
- Category
- Cryptocurrency
- Leveraged
- 1x (No leverage)
- Index Tracked
- CoinDesk Ether Price Index
- Distribution Policy
- Distributing
- Asset Class
- Cryptocurrency
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $1B
Share Price Chart
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Performance
ETHE Performance Chart
Grayscale Ethereum Trust ETF (ETHE) is down 42.0% since the beginning of the year. ETHE is currently trading at $14 per share. Investors who bought $1,000 worth of ETHE shares 5 years ago would now be looking at an investment worth $755.
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Returns By Period
Grayscale Ethereum Trust ETF (ETHE) has returned -41.95% so far this year and -29.27% over the past 12 months.
Grayscale Ethereum Trust ETF
- 1D
- 1.60%
- 1M
- -16.15%
- YTD
- -41.95%
- 6M
- -42.04%
- 1Y
- -29.27%
- 3Y*
- 13.02%
- 5Y*
- -5.46%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
ETHE Monthly Returns History
Based on dividend-adjusted daily data since Jun 14, 2019, ETHE's average daily return is +0.46%, while the average monthly return is +5.99%. At this rate, an investment would double in approximately 1.0 years.
Historically, 48% of months were positive and 52% were negative. The best month was Feb 2020 with a return of +119.4%, while the worst month was Jul 2019 at -63.8%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 6 months.
On a daily basis, ETHE closed higher 49% of trading days. The best single day was Jun 20, 2019 with a return of +400.0%, while the worst single day was Jun 24, 2019 at -77.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -10.09% | -28.06% | 8.93% | 7.58% | -10.95% | -13.99% | -41.95% | ||||||
| 2025 | -1.03% | -33.25% | -17.77% | -2.43% | 43.84% | -2.34% | 47.94% | 16.01% | -4.27% | -6.86% | -21.87% | -2.29% | -13.03% |
| 2024 | -0.87% | 49.87% | -9.45% | -21.11% | 70.82% | -10.90% | -11.94% | -23.36% | 3.30% | -3.56% | 42.82% | -7.06% | 44.14% |
| 2023 | 54.62% | 0.27% | 16.12% | 6.30% | -7.79% | 18.33% | 7.85% | 3.12% | 0.05% | 25.32% | 18.33% | 18.54% | 308.40% |
| 2022 | -34.43% | 8.58% | 16.97% | -24.64% | -38.01% | -43.92% | 78.05% | -7.00% | -21.98% | 16.23% | -34.34% | -31.61% | -85.29% |
| 2021 | -3.74% | 4.89% | 14.31% | 54.86% | -9.01% | -11.27% | 0.22% | 46.70% | -13.62% | 49.77% | 7.61% | -29.33% | 108.77% |
Benchmark Metrics
Grayscale Ethereum Trust ETF has an annualized alpha of 135.83%, beta of 1.95, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since June 14, 2019.
- This ETF participated in 154.67% of S&P 500 Index downside but only 152.78% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.04 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 135.83%
- Beta
- 1.95
- R²
- 0.04
- Upside Capture
- 152.78%
- Downside Capture
- 154.67%
Expense Ratio
ETHE has a high expense ratio of 2.50%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
ETHE ranks 6 for risk / return — in the bottom 6% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Grayscale Ethereum Trust ETF (ETHE) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ETHE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -2.99 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.37 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 2.78 | -3.22 |
| Martin ratioReturn relative to average drawdown | -0.72 | 12.44 | -13.16 |
Dividends
Dividend History
Grayscale Ethereum Trust ETF provided a 1.40% dividend yield over the last twelve months, with an annual payout of $0.20 per share.
| Period | TTM |
|---|---|
| Dividend | $0.20 |
Dividend yield | 1.40% |
Monthly Dividends
The table displays the monthly dividend distributions for Grayscale Ethereum Trust ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.08 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Grayscale Ethereum Trust ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Grayscale Ethereum Trust ETF was 96.26%, occurring on Sep 30, 2019. The portfolio has not yet recovered.
The current Grayscale Ethereum Trust ETF drawdown is 78.05%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2019 bear market2019 | -96.26%Sep 2019 | 3mo 8d | — | 7y 1dJun 2019 - now |
Drawdown Indicators
| ETHE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.26% | -56.78% | -39.48% |
Max Drawdown (1Y)Largest decline over 1 year | -67.77% | -9.10% | -58.67% |
Max Drawdown (3Y)Largest decline over 3 years | -67.77% | -18.90% | -48.87% |
Max Drawdown (5Y)Largest decline over 5 years | -89.85% | -25.43% | -64.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -78.05% | -1.80% | -76.25% |
Average DrawdownAverage peak-to-trough decline | -72.23% | -10.71% | -61.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.44% | 2.03% | +38.41% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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