Bitwise Ethereum ETF (ETHW) belongs to the Cryptocurrency category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with ETHW. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to ETHW
ETHW charges 0.20% annually. There are 7 ETFs in the Cryptocurrency category with lower expense ratios, going as low as 0.14%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Morgan Stanley Bitcoin Trust | 0.14% | 392.19M | Apr 2026 | ETHW vs MSBT | |
| Grayscale Ethereum Staking Mini ETF | 0.15% | 1.57B | Jul 2024 | ETHW vs ETH | |
| Grayscale Bitcoin Mini Trust ETF | 0.15% | 3.71B | Jul 2024 | ETHW vs BTC | |
| Franklin Crypto Index ETF | 0.19% | 14.11M | Feb 2025 | ETHW vs EZPZ | |
| Franklin Solana ETF | 0.19% | 8.21M | Dec 2025 | ETHW vs SOEZ |
Best Risk-Adjusted Alternatives to ETHW
ETHW has a PortfoliosLab risk / return rank of 3. There are 22 ETFs in the Cryptocurrency category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Grayscale Zcash Trust (ZEC) | 96 | — | Oct 2017 | ETHW vs ZCSH | |
| ProShares Short Bitcoin ETF | 61 | 129.73M | Jun 2022 | ETHW vs BITI | |
| Proshares Ultrashort Bitcoin ETF | 55 | 176.54M | Apr 2024 | ETHW vs SBIT | |
| CoinShares Bitcoin Miners ETF | 51 | 240.40M | Feb 2022 | ETHW vs WGMI | |
| T-Rex 2X Inverse Bitcoin Daily Target ETF | 48 | — | Jul 2024 | ETHW vs BTCZ |
Top Performing ETHW Alternatives (YTD)
ETHW is at -37.28% YTD. There are 71 ETFs in the Cryptocurrency category with higher YTD returns, going as high as 39.44%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Proshares Ultrashort Bitcoin ETF | 39.44% | 176.54M | Apr 2024 | ETHW vs SBIT | |
| CoinShares Bitcoin Miners ETF | 34.47% | 240.40M | Feb 2022 | ETHW vs WGMI | |
| T-Rex 2X Inverse Bitcoin Daily Target ETF | 34.44% | — | Jul 2024 | ETHW vs BTCZ | |
| ProShares Short Ether Strategy ETF | 29.72% | 16.03M | Nov 2023 | ETHW vs SETH | |
| ProShares UltraShort Ether ETF | 29.25% | 60.61M | Jun 2024 | ETHW vs ETHD |
Lowest Volatility Alternatives to ETHW
ETHW has 67.15% 1-year volatility. There are 84 ETFs in the Cryptocurrency category with lower 1-year volatility, going as low as 1.95%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Calamos Bitcoin Structured Alt Protection ETF - Oc... | 1.95% | — | Oct 2025 | ETHW vs CBOO | |
| Calamos Laddered Bitcoin 90 Series Structured Alt ... | 3.65% | — | Oct 2025 | ETHW vs CBOL | |
| Calamos Bitcoin 90 Series Structured Alt Protectio... | 6.49% | — | Oct 2025 | ETHW vs CBXO | |
| Calamos Bitcoin 80 Series Structured Alt Protectio... | 11.56% | — | Oct 2025 | ETHW vs CBTO | |
| FT Vest Bitcoin Strategy Floor15 ETF - October | 11.68% | 7.65M | Sep 2025 | ETHW vs BFOC |
Lowest Drawdown Alternatives to ETHW
ETHW has a 1-year max drawdown of -67.89%. There are 51 ETFs in the Cryptocurrency category with shallower 1-year drawdowns, going as shallow as -14.02%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Horizon Kinetics Blockchain Development ETF | -14.02% | 23.25M | Aug 2022 | ETHW vs BCDF | |
| FT Vest Bitcoin Strategy Floor15 ETF - July | -21.27% | 3.44M | Jun 2025 | ETHW vs BFJL | |
| REX Crypto Equity Premium Income ETF | -22.47% | 111.94M | Dec 2024 | ETHW vs CEPI | |
| ProShares Short Bitcoin ETF | -25.28% | 129.73M | Jun 2022 | ETHW vs BITI | |
| Global X Bitcoin Trend Strategy ETF | -25.73% | 735.02K | Mar 2024 | ETHW vs BTRN |
Other ETFs from Bitwise
The 10 most viewed Bitwise ETFs shown here include BITB, BITW, BITQ and span 4 categories. AUM among these funds goes as high as $2B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Bitwise Bitcoin ETF | Cryptocurrency | 1 | -28.24% | 2.31B | Jan 2024 | ETHW vs BITB | |
| Bitwise 10 Crypto Index ETF | Cryptocurrency | 2 | -31.06% | 619.02M | Dec 2025 | ETHW vs BITW | |
| Bitwise Crypto Industry Innovators ETF | Blockchain, Technology Equities | 17 | 14.35% | 382.12M | May 2021 | ETHW vs BITQ | |
| Bitwise Bitcoin Strategy Optimum Roll ETF | Cryptocurrency | 2 | -1.76% | 14.34M | Mar 2023 | ETHW vs BITC | |
| Bitwise Trendwise Ethereum and Treasuries Rotation... | Cryptocurrency | 2 | -15.95% | 4.61M | Sep 2023 | ETHW vs AETH | |
| Bitwise COIN Option Income Strategy ETF | Derivative Income | 1 | -22.45% | 19.02M | Apr 2025 | ETHW vs ICOI | |
| Bitwise Funds Trust | Derivative Income | 0 | -30.61% | 8.58M | Apr 2025 | ETHW vs IMST | |
| Bitwise XRP ETF | Cryptocurrency | — | -42.20% | 315.70M | Nov 2025 | ETHW vs XRP | |
| Bitwise Solana Staking ETF | Cryptocurrency | — | -39.21% | 588.17M | Oct 2025 | ETHW vs BSOL | |
| Bitwise Bitcoin Standard Corporations ETF | Blockchain | 3 | -21.50% | 13.99M | Mar 2025 | ETHW vs OWNB |
Often Compared With ETHW
Investors most often compare ETHW with ETHA, ETHT, FETH. These 20 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare ETHW with Any Fund or Stock
Compare ETHW with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair ETHW with funds that move differently
Bitwise Ethereum ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ETHW.
Explore ETHW Diversifiers