IQ

ETHW Bitwise Ethereum ETF

Share ▾
Share on XDownload as PDF
$16.95
+1.1% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

Over the year to Oct 28, 2026, ETHW lost 41.4%, against −41.3% for ether.

Why did ETHW return −41.4% against Ether’s −41.3%?How closely does ETHW track Ether?What does ETHW cost to hold and to trade?
A spot Ether trust. It holds the coin and trades like a share.Bitwise ↗Expense ratio 0.20%Fund assets $258m on Oct 28, 2026First traded Jul 23, 2024Benchmark EtherSEC filings ↗Every Bitwise fund ETFIQ covers

Promise check: DeliveredOver the year to Oct 28, 2026, ETHW returned −41.4% against −41.3% for Ether. Before its 0.20% fee, it finished 0.05 points ahead of Ether.

Compare with…Trading costsPut to the committeeaskIQ about ETHWAdd to portfolioFlowsAlerts

ETHW risk and return scorecard

vs Ether

Not measured: no price history kept for ETHW.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · Oct 22, 2026
In on 0 days, out on 1. 53 days missing.
askIQ: what do these flows mean? ↗

What you earned

ETHW −11.3%, Ether −11.3%: total return over one month to Oct 28, 2026.
ETHW−11.3%
Ether−11.3%
ETHW +25.6%, Ether +25.6%: total return over three months to Oct 28, 2026.
ETHW+25.6%
Ether+25.6%
ETHW +6.1%, Ether +6.1%: total return over six months to Oct 28, 2026.
ETHW+6.1%
Ether+6.1%
ETHW −20.3%, Ether −20.2%: total return over the year to Oct 28, 2026.
ETHW−20.3%
Ether−20.2%
ETHW −41.4%, Ether −41.3%: total return over one year to Oct 28, 2026.
ETHW−41.4%
Ether−41.3%
ETHW −31.8%, Ether −31.5%: total return since launch to Oct 28, 2026.
ETHW−31.8%
Ether−31.5%
askIQ: why did ETHW return −41.4% against Ether’s −41.3%? ↗

Did it track the coin?

Spot Ether
−41.4%
Total return, 1 year
Report
−41.3%
Ether over the same days
Report
−0.1 pts
Difference against Ether, in percentage points
Report
570
Days it has traded
Report
askIQ: how closely does ETHW track Ether? ↗

More on ETHW

Every number below is on this page. Open what you need.

ETHW flows, by email on Sundays.

One-click unsubscribe. See Privacy.

Price, 1 year

$16.95+1.1%1 day, priceClose, Oct 28, 2026

Price only. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Oct 28, 2026. Updated every trading night. Last checked Oct 28, 2026. Report a data error

ETHW returns by window: total return, cash paid and price change
WindowTotal returnEtherDifference, percentage points
1M Sep 28 – Oct 28, 2026−11.3%−11.3%0.0 pts
3M Jul 29 – Oct 28, 2026+25.6%+25.6%−0.1 pts
6M Apr 29 – Oct 28, 2026+6.1%+6.1%0.0 pts
YTD Dec 31, 2025 – Oct 28, 2026−20.3%−20.2%−0.1 pts
1Y Oct 28, 2025 – Oct 28, 2026−41.4%−41.3%−0.1 pts
Since launch Jul 23, 2024 – Oct 28, 2026−31.8%−31.5%−0.3 pts
Since launch, annualised Jul 23, 2024 – Oct 28, 2026−15.5%––

Total returns, distributions reinvested. Listed Jul 2024: no 3 years windows.

Source: Tiingo end-of-day prices, with distributions reinvested.

Where every fund in this set sits

How much of what holding the coin gave did a holder of the fund keep?

Share of the coin's growth it kept
LTCN 89.0%GBTC 98.6%ETHE 99.1%HBR 99.1%LTCC 99.1%ETHA 99.6%ETHV 99.6%QETH 99.6%BRRR 99.7%, and 10 more at this point: BTCO 99.7%, BTCW 99.7%, EZBC 99.7%, FBTC 99.7%, FETH 99.7%, ARKB 99.8%, BITB 99.8%, EZET 99.8%, IBIT 99.8%, BTC 99.9%HODL 100.0%TETH 100.5%ETH 101.7%OBTC 105.0%BSOL 105.9%GXLM 152.3%ETHW 99.9%ETHW 99.9%89.0%152.3%
89.0% to 152.3% across 26

That is the share of the 26 spot crypto trusts with a full year sitting at or below ETHW.

Share of the coin's own price growth a holder kept; funds on different coins are ranked together. Where the fund sits in this set, not a rating. Do not average it with another category's score.

71.2
IQ Crypto ScoreETFIQ Coin Capture Score8th of 26 · Oct 28, 2026
1.9 · lowest of 26 spot crypto trusts with a full year98.1 · highest

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

ETHW kept 99.9% of what holding Ether gave over the same days.

share of the coin's growth it kept99.9% · 71st pct
All 26 ranked by this score →

Money in and out

Daily data · as of Oct 22, 2026

ETHW: in the 12 trading days to Oct 22, 2026, net $6.2m went out, over 9 of 12 trading days.

Net flow each trading day
Net flow into ETHW each trading day, Jul 28, 2026 to Oct 22, 2026−$6.2mmonthly, from SEC filingsdaily, from Bitwise+$6.2m−$6.2mJul 28, 2026Oct 22, 2026

ETHW, net flow each trading day over the 62 sessions from Jul 28, 2026 to Oct 22, 2026: money came in on 0 days and went out on 1 day, of the 9 days with daily data; the other 53 have none. Before Oct 6, 2026 ETFIQ has the fund’s monthly data only, from SEC filings: that span is shaded and draws no bars, and its months are in the month by month list.

In on 0 days, out on 1. 53 days missing.

Net flow into ETHW each trading day, Oct 28, 2025 to Oct 22, 2026−$6.2mmonthly, from SEC filingsdaily, from Bitwise+$6.2m−$6.2mOct 28, 2025Oct 22, 2026

ETHW, net flow each trading day over the 248 sessions from Oct 28, 2025 to Oct 22, 2026: money came in on 0 days and went out on 1 day, of the 9 days with daily data; the other 239 have none. Before Oct 6, 2026 ETFIQ has the fund’s monthly data only, from SEC filings: that span is shaded and draws no bars, and its months are in the month by month list.

In on 0 days, out on 1. 239 days missing.

Net flow into ETHW each trading day, Mar 21, 2025 to Oct 22, 2026−$6.2mmonthly, from SEC filingsdaily, from Bitwise+$6.2m−$6.2mMar 21, 2025Oct 22, 2026

ETHW, net flow each trading day over the 400 sessions from Mar 21, 2025 to Oct 22, 2026: money came in on 0 days and went out on 1 day, of the 9 days with daily data; the other 391 have none. Before Oct 6, 2026 ETFIQ has the fund’s monthly data only, from SEC filings: that span is shaded and draws no bars, and its months are in the month by month list.

In on 0 days, out on 1. 391 days missing.

Money in, netMoney out, netMonthly basis

Daily data starts Oct 22, 2026.

How this is computed

Computed by ETFIQ from Bitwise’s daily data: each day’s change in shares outstanding times the previous day’s net asset value. Numbers are net: money in less money out. Every day and month ETFIQ holds for ETHW, back to Oct 2026, is in its flows file. Flows across every fund · How these flows are computed · Compare ETHW with other funds in the flows tool

Every trading day, last 3 months12 days
Oct 22, 2026 $0
Oct 21, 2026 no flow: the earlier count has no NAV
Oct 20, 2026 $0
Oct 19, 2026 $0
Oct 16, 2026 no flow: the earlier count has no NAV
Oct 15, 2026 $0
Oct 14, 2026 $0
Oct 13, 2026 $0
Oct 12, 2026 $0
Oct 9, 2026 $0
Oct 8, 2026 no flow: the earlier count has no NAV
Oct 7, 2026 −$6.2m

Most recent first.

Week by week, last year3 weeks
Oct 22, 2026 $0 3 of 4 trading days
Oct 15, 2026 $0 4 days
Oct 9, 2026 −$6.2m 2 of 3 trading days

Net flow into ETHW each week, Oct 7, 2026 to Oct 22, 2026, most recent first, each week named by its last trading day with data. Computed by ETFIQ.

Month by month, money in and money outOct 2026

ETHW, net flow each month from Oct 2026 to Oct 2026: money came in in 0 months and went out in 1 month.

MonthInOutNet
Oct 2026 ETFIQ, the sum of its days, Oct 7 to Oct 22, 9 of 12 trading days$0−$6.2m−$6.2m

Most recent first.

How this is computed

Months summed from daily data: money in adds the days money came in; money out adds the days it went out.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s daily share counts and net asset values, and its SEC N-PORT filings. Data as of Oct 22, 2026. Last checked Oct 29, 2026.

ETHW key stats

52-week high, daily closes to Oct 28, 2026 (ETFIQ)$27.98 on Oct 29, 2025
52-week low, daily closes to Oct 28, 2026 (ETFIQ)$11.14 on Jun 25, 2026
Close on Oct 28, 2026, within that range (ETFIQ)$16.95, 35% of the way from the low to the high
Beta to its benchmark, 1 year (ETFIQ)1.00, against ether
R-squared, the same days (ETFIQ)1.00
Beta and R-squared measured over251 daily total returns, Oct 29, 2025 to Oct 28, 2026
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Oct 26, 2026
Trading · ETHWas of Oct 26, 2026
·
Not scored0 of 6 measured · Oct 26, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
Premium or discount to NAV, Oct 26 close+0.06%
−0.3%95% of days within ±0.23% · the 1% band is off this scale+0.3%
How to tradeSpread not read.
Full trading page: components, premium history, dealers →

About ETHW

SponsorBitwise
HoldsEtherReport
Sponsor’s fee (10-Q)0.20%
Fee waiverthe whole fee, but it ended on Jan 22, 2025. The sponsor's fee above is what the trust charges now.
Net assets (issuer page, as of Oct 28, 2026)$258mReport
Stakingthe filings say the trust does not stake
First tradedJul 23, 2024
Days traded570
Days it closed unchanged0
Quotedon an exchange, every trading day
Price$16.95
Against Ether, same days0.1% behind
Reports to the SEC on10-K, not N-PORT
How we measure
Over the year to Oct 28, 2026, Ether moved −41.3% and ETHW returned −41.4%. That leaves it 0.09 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. ETHW charges 0.20% a year and finished 0.1% behind Ether, so the fee is almost the whole of the difference. Ether is a proof of stake chain, so a fund holding it can stake. ETHW’s own filings say it does not (10-K, Mar 12, 2026). 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.
Fund closes and coin closes from Tiingo, read at the same two dates. ETFIQ calculation. Method
IQ Investment Committee on ETHW

12 seats on ETHW, as of Oct 28, 2026: 1 Mixed, 4 Challenges, 6 Not enough data, 1 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyNot enough data
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianDoes not apply
In the tradition ofRay DalioDalio-style All-WeatherNot enough data
In the tradition ofHoward MarksMarks-style Cycles & RiskNot enough data
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityChallenges
In the tradition ofDavid SwensenSwensen-style DiversificationChallenges
In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data
In the tradition ofJesse LivermoreLivermore-style Trend FollowingChallenges
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatMixed
Put ETHW to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about ETHW

Does ETHW track Ether?
Over the year to Oct 28, 2026 it returned −41.4% against Ether’s −41.3%, which leaves it 0.09 of a percentage point behind. That difference carries the fee, the custody cost and the market’s pricing of the shares, and ETFIQ computes it from the fund’s own closes and the coin’s own closes over the same two dates.
Does ETHW stake?
Ether is a proof of stake chain, so staking is possible. Whether this fund 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 ETHW?
Bitwise Ethereum ETF, a spot Ether trust sponsored by Bitwise, first traded Jul 23, 2024. It holds the coin through a custodian rather than futures on it or shares in companies that own it.
Sources and dates
Prices, ETHW and EtherPrices, Tiingo end of day ↗
Fee, 0.20%Sponsor’s fee, read from the 10-Q filed Aug 7, 2026 ↗
Net assets, $258mIssuer page · Oct 28, 2026
All fund filingsFilings on SEC EDGAR ↗
SourceStaking, read from the 10-K filed Mar 12, 2026 ↗
IssuerBitwise website ↗
Sponsor’s fee, read from the 10-Q filed Aug 7, 2026 ↗
Staking, read from the 10-K filed Mar 12, 2026 ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
Cite this pageCitation, APA and Markdown

ETFIQ, ETHW, crypto ETFs, data as of Oct 28, 2026. https://etfiq.com/funds/ethw

The tracking bar for ETHW, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Tracking difference
The fund’s total return minus the coin’s over exactly the same days, in percentage points. The fee, the custody cost, the creation and redemption friction and whatever the market paid for the shares, all of it, in one number.
Spot
The fund holds the coin itself, through a custodian, rather than futures on it or shares in companies that own it. Only spot funds are in this category; the others are measured where they belong.
Sponsor
Who runs the fund. Most spot crypto ETFs are 1933 Act trusts rather than registered investment companies, so they have a sponsor rather than an adviser, and file a 10-K rather than an N-PORT.
Thinly quoted
A fund whose price sat unchanged on more than one trading day in twenty. Its quoted return is what somebody paid on the days anyone traded, which is not the same thing as what the fund did, so ETFIQ shows it and does not rank it against funds that trade.
Staking
Only proof of stake coins can be staked, so it exists for ether and Solana funds and cannot exist for a bitcoin one. Where a fund stakes, the yield and the sponsor’s share of it are terms in its own filings.
Full definitions: crypto ETFs vocabulary page. →
Embed this chart

Free to use with the credit link. Paste this where the chart should go; it updates every trading night.

ETHW: ETHW over 1 year: fund −41.43%, Ether −41.34%, 0.09 pts behind Ether. Data to Oct 28, 2026.
<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/funds/ethw"><img src="https://etfiq.com/assistant/api/embed/crypto/ethw.svg" alt="ETHW: ETHW over 1 year: fund −41.43%, Ether −41.34%, 0.09 pts behind Ether. Data to Oct 28, 2026." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">ETHW: ETHW over 1 year: fund −41.43%, Ether −41.34%, 0.09 pts behind Ether. Data to Oct 28, 2026. Data: <a href="https://etfiq.com/funds/ethw">ETFIQ</a></figcaption>
</figure>

How to embed ETFIQ charts

Get the ETFIQ Daily

The day's ETF flows, a comparison and one number. Every trading morning. About the Daily

The ETFIQ Daily and our other emails. Unsubscribe from any one in a click. See Privacy.

Snapshot, Oct 28, 2026. More on the tabs above.