Grayscale Ethereum Staking ETF (ETHE)
Legacy spot Ethereum ETF from Grayscale – direct exposure to Ether with staking rewards distributions (first in U.S. as of Jan 2026).
Key Facts
| Issuer | Grayscale Investments |
|---|---|
| Ticker | ETHE (NYSE Arca) |
| Expense Ratio | 2.50% |
| Approx. AUM | $2.7B–$2.79B (as of Jan 9, 2026) |
| Custodian | Coinbase Custody Trust Company, LLC |
| Inception | Dec 14, 2017 (trust); ETF conversion & trading Jul 23, 2024 |
| Official Site | Grayscale ETHE Page |
Composition / Holdings
ETHE is 100% physically-backed spot Ethereum (with staking enabled since Oct 2025).
| Asset | Percentage | Description |
|---|---|---|
| Ether (ETH) | 100% | Physically-backed spot Ether held in cold storage by Coinbase Custody; staking rewards distributed (first payout Jan 2026) |
Direct 1:1 exposure to Ether price (less fees). Staking active; ~4.04% gross rewards as of Jan 9, 2026 (net after fees lower).
Net Inflows & Outflows
Historical net flows showing investor demand. Significant cumulative outflows (~-$5.14B since conversion), with recent mixed trends in early Jan 2026 (e.g., +$1.3M on Jan 5, outflows on Jan 7-9).
Performance Overview
NAV tracking and returns vs. Ether spot price (high correlation, but higher fees and historical premium/discount can cause tracking differences).
ESG & Sustainability Metrics
Estimated ESG profile for Ethereum (post-Merge PoS improves energy score; strong on decentralization/utility).
Pros
- First U.S. Ethereum ETP to distribute staking rewards (~4% gross as of Jan 2026)
- Long history (since 2017) and high visibility in the market
- Direct spot exposure with physical backing
- Available on major brokers
Cons
- High 2.50% expense ratio (erodes staking benefits vs. low-fee peers)
- Significant historical net outflows post-conversion
- Potential for premium/discount volatility
- No direct Ether ownership/withdrawals
How to Buy ETHE
Available on major US brokers (Fidelity, Schwab, Vanguard, Robinhood, etc.). Search ticker ETHE. Suitable for brokerage accounts; note higher fees and staking distributions.
Not financial advice. Investments in crypto ETFs involve high risk, including potential loss of principal. Data approximate as of January 9-11, 2026 (sources: Grayscale, Farside Investors, SoSoValue, YCharts). Always verify with official sources.