ETHE — Grayscale Ethereum Staking ETF

ETHE Price Performance — Growth of $10,000

Value of a $10,000 investment in ETHE over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

ETHE Drawdown

The "underwater" chart: ETHE's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Grayscale Ethereum Staking ETF (ETHE) is a cryptocurrency fund issued by Grayscale that tracks one of 11 ETFs in the Crypto category monitored by ETFValuer. With an asset base of $1.22 billion and a share price of $15.02, the fund holds a significant position within its sector despite its low overall ranking. It currently sits at rank #458 out of 458 tracked ETFs across all categories, receiving an ETFValuer grade of F with a score of 16.6 out of 100. The fund carries a high expense ratio of 2.5% while offering a dividend yield of 1.39%. This combination of a top-tier expense ratio and the lowest possible overall rank suggests limited investor adoption relative to the broader market. The substantial AUM indicates that despite the low grade and high costs, the fund has attracted significant capital from investors seeking exposure to Ethereum staking.

Recent performance data reveals a sharp divergence between short-term gains and long-term losses for the Grayscale Ethereum Staking ETF. Over the last day, the fund declined by 0.66%, but this was followed by a 0.94% gain over the week and a substantial 17.61% increase over the past month. However, these short-term gains are overshadowed by negative returns over longer horizons, with the fund down 19.73% over three months and 36.88% over six months. Year-to-date performance stands at -40.64%, while the one-year return is -48.85%. In contrast to these recent declines, the three-year return shows a positive trajectory of +59.28%, indicating a significant recovery or growth period prior to the current downturn.

The fund is classified with a Very High volatility label and has recorded a maximum drawdown of -68.17%, indicating severe potential for capital loss during market downturns. A Sharpe ratio of -0.80 suggests that the risk-adjusted returns have been negative, meaning the fund has not compensated investors adequately for the level of risk taken. While the beta is not provided, the extreme drawdown and negative Sharpe ratio together imply that the fund experiences significant price swings that are not offset by consistent gains. This profile indicates that the ETF behaves with high instability in both up and down markets, presenting a challenging risk environment for investors seeking stability.

AI-generated summary based on the data on this page.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

ETHE Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.07% and average daily volume is 2.3M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $1.22B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: ETHE is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

ETHE Performance History

How ETHE Compares to Other Crypto ETFs