Data as of Oct 28, 2026.

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Crypto ETFs

ETHE vs TETH: Tracking, Returns & Fees

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Over the year to Oct 28, 2026, ETHE finished 0.55 of a percentage point behind Ether and TETH 0.29 ahead.

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Net assets: $1.2bn on Jun 30, 2026 for Grayscale Ethereum Staking ETF, and $26m on Oct 28, 2026 for 21Shares Ethereum Staking ETF.

At a glance
−41.9%
ETHE returned, 1 year
−41.1%
TETH returned, 1 year
−0.6 pts
ETHE against Ether, in percentage points
+0.3 pts
TETH against Ether, in percentage points
ETHE · 1 year to Oct 28, 2026 Within a point of Ether
Within a point of EtherETHE over 1 year: fund −41.89%, Ether −41.34%, 0.55 pts behind Ether. Data to Oct 28, 2026.Ether−41.34%ETHE−41.89%0.55 pts behind EtherTotal return, 1 year, fund against the coinWithin a point of EtherETHE over 1 year: fund −41.89%, Ether −41.34%, 0.55 pts behind Ether. Data to Oct 28, 2026.Ether−41.34%ETHE−41.89%0.55 pts behind EtherTotal return, 1 year

ETHE over 1 year: fund −41.89%, Ether −41.34%, 0.55 pts behind Ether. Data to Oct 28, 2026.

Data to Oct 28, 2026.
TETH · 1 year to Oct 28, 2026 Within a point of Ether
Within a point of EtherTETH over 1 year: fund −41.05%, Ether −41.34%, 0.29 pts ahead of Ether. Data to Oct 28, 2026.Ether−41.34%TETH−41.05%about level with EtherTotal return, 1 year, fund against the coinWithin a point of EtherTETH over 1 year: fund −41.05%, Ether −41.34%, 0.29 pts ahead of Ether. Data to Oct 28, 2026.Ether−41.34%TETH−41.05%about level with EtherTotal return, 1 year

TETH over 1 year: fund −41.05%, Ether −41.34%, 0.29 pts ahead of Ether. Data to Oct 28, 2026.

Data to Oct 28, 2026.

Pair scorecard

TETH costs 2.29 points a year less; their one-year returns differ by 0.8 points.

ETHE vs TETH: Tracking, Returns & Fees
MeasureETHETETH
Return
Total return, 1 year−41.9%−41.1%
Against its benchmark
What it tracksEtherEther
Against Ether, same days0.6% behind0.3% ahead of
Cost and size
Expense ratio2.50%0.21%
Net assets, ETHE as of Jun 30, 2026 and TETH as of Oct 28, 2026$1.2bn$26m
Reports to the SEC on10-K, not N-PORT
Holdings
Holdings in commonnot published
ETFIQ Coin Capture Score · TETH scores higher How much of what holding the coin gave did a holder of the fund keep?
IQ Crypto Score9.6ETHE82.7TETH

How much of its coin's move it captured, after costs, ranked against 26 spot crypto trusts with a full year. 100 is best. How it is computed

1.9, the lowest in this set 98.1, the highest

A percentile among the 26 spot crypto trusts with a full year. Share of the coin's own price growth a holder kept; funds on different coins are ranked together. All crypto ETFs ranked by it →

Method

Side by side

ETHE Grayscale Ethereum Staking ETF · Holds Ether through a custodian TETH 21Shares Ethereum Staking ETF · Holds Ether through a custodian, first traded Jul 23, 2024
Holds Ether Ether
Net assets, as filed $1.2bn, balance sheet of Jun 30, 2026 $13m, balance sheet of Jun 30, 2026
Sponsor’s fee 2.50% 0.21%
Fee waiver none the whole fee, until October 8, 2026
Staking the filings say it does the filings say it does
First traded not stated Jul 23, 2024
Days since its first trade not stated 827 days
Days it has traded 1,715 570
Days it closed unchanged 13 5
Quoted on an exchange, every trading day on an exchange, every trading day
Fund returned, 1 year −41.9% −41.1%
The coin over the same days −41.3% −41.3%
Difference, percentage points −0.6 pts +0.3 pts
Fund returned since launch not available −31.3%
Difference since launch not available +0.2 pts
Price $18.99 $11.82
Net assets, ETHE as of Jun 30, 2026 and TETH as of Oct 28, 2026 $1.2bn $26m

As of Oct 28, 2026. Source: ETFIQ.

Window by window

Window by window: ETHE vs TETH: Tracking, Returns & Fees
Total returnThe coin over the same daysDifference, percentage points
WindowETHETETHETHETETHETHETETH
1 month−11.4%−11.3%−11.3%−11.3%−0.1 pts0.0 pts
3 months+25.3%+25.8%+25.6%+25.6%−0.3 pts+0.2 pts
6 months+5.7%+6.5%+6.1%+6.1%−0.5 pts+0.3 pts
1 year−41.9%−41.1%−41.3%−41.3%−0.6 pts+0.3 pts
3 years+51.7%–+33.5%–+13.6% of its growth–
Since each listed–−31.3%–−31.5%–+0.2 pts

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The same coin, two trusts

ETHE and TETH hold the same asset. Both are 1933 Act trusts holding Ether through a custodian, so neither has a portfolio to compare: the whole of each fund is one line. Over the same days, ETHE finished 0.55 of a percentage point behind Ether and TETH 0.29 of a percentage point ahead, so TETH kept more of what holding the coin gave, by 0.26 of a percentage point. That gap is the fee, the custody, the creation and redemption friction and the market’s pricing of the shares, compounded into one number.

Client brief · page 1 of 2 Report BR-010584D6CB

ETHE and TETH are built for the same job. How do they differ in cost, holdings and results?

  1. Cost. ETHE charges 2.50% of assets a year and TETH 0.21%, a gap of 2.29 points.
  2. What each follows (similar). Both follow Ether.
  3. One-year total return (similar). Over 1 year to Oct 28, 2026 ETHE returned −41.9% and TETH −41.1% with distributions reinvested, a gap of 0.8 points.

Data as of Oct 28, 2026.

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About each fund
ETHE

ETHE’s own filings say it does (424B3, Aug 7, 2026). It charges 2.50% and finished only 0.6% behind Ether, so staking covered about 1.9% of that fee over these days.

ETHE holds Ether through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the year to Oct 28, 2026, Ether moved −41.3% and ETHE returned −41.9%. That leaves it 0.55 of a percentage point behind. That difference is the fee, the custody cost, the friction of creating and redeeming shares in blocks, and whatever the market paid for the shares rather than for the coin, all of it together. It is the only number on this page the sponsor does not publish itself. ETHE charges 2.50% a year and finished 0.6% behind Ether, so the fee is more than the whole difference. Ether is a proof of stake chain, so a fund holding it can stake. A spot trust is not a registered investment company. It files a 10-K rather than an N-PORT, and its holding is one line: the Ether it custodies.

TETH

TETH’s own filings say it does (10-Q, Aug 14, 2026). It charges 0.21% and finished only −0.3% behind Ether, so staking covered about 0.5% of that fee over these days.

TETH holds Ether through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the year to Oct 28, 2026, Ether moved −41.3% and TETH returned −41.1%. That leaves it 0.29 of a percentage point ahead. TETH charges 0.21% a year and finished 0.3% ahead of Ether, which a fee cannot do on its own.

Questions people ask

Which tracked Ether more closely, ETHE or TETH?
Over the window to Oct 28, 2026, ETHE finished 0.55 of a percentage point behind Ether and TETH 0.29 of a percentage point ahead, so TETH tracked it more closely, by 0.26 of a percentage point. That difference is the fee, the custody cost, the friction of creating and redeeming shares in blocks and whatever the market paid for the shares rather than for the coin, all together.
Do ETHE or TETH pay a staking yield?
Ether is a proof of stake chain, so staking is possible. Whether either trust stakes, and what the sponsor keeps of it, is a term in its own filings and is read from those rather than assumed.
What is the difference between ETHE and TETH?
Both hold Ether through a custodian and both trade on an exchange, so what separates them is what each costs a holder over time. ETHE is sponsored by Grayscale; TETH by 21Shares, first traded Jul 23, 2024.
Which is cheaper, ETHE or TETH?
ETHE charges 2.50% a year and TETH charges 0.21%, so TETH is cheaper. Fees come from each fund's prospectus.
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Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, ETHE against TETH, data as of Oct 28, 2026. https://etfiq.com/compare/crypto/ethe-vs-teth

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