What is the expense ratio of ETHA vs GBTC?

ETHA has an expense ratio of 0.25%, while GBTC has an expense ratio of 1.50%.

ETHA vs GBTC

iShares Ethereum Trust ETF vs Grayscale Bitcoin Trust ETF

Last updated: 2026-04-08

iShares Ethereum Trust ETF (ETHA) is an exchange-traded fund that provides exposure to cryptocurrency securities. It charges a moderate expense ratio of 0.25%. Launched in 2024, the fund has a 2-year track record.

AUM: $6.4B ER: 0.25% Yield: N/A Since: Jul 24, 2024

GBTC

Grayscale Bitcoin Trust ETF (GBTC) is an exchange-traded fund that provides exposure to cryptocurrency securities. It charges a high expense ratio of 1.50%. Launched in 2024, the fund has a 2-year track record.

AUM: $10.8B ER: 1.50% Yield: N/A Since: Jan 11, 2024

Quick Verdict

ETHA is significantly cheaper at 0.25% vs 1.50% expense ratio, saving you approximately $2,323 per $10,000 invested over 10 years. Over the past year, ETHA has significantly outperformed with a 51.1% return vs -8.4%.

Key Metrics

Metric	ETHA	GBTC
Expense Ratio	0.25%	1.50%
Dividend Yield	N/A	N/A
Fund Family	N/A	N/A
Category	Cryptocurrency	Cryptocurrency

Performance Chart

Indexed to 100 at start (5-year comparison)

ETHA -36.3%

GBTC +25.2%

Performance Comparison

Period	ETHA	GBTC	Difference
1 Month	+8.82%	+3.16%	+5.66%
3 Months	-28.68%	-21.80%	-6.88%
6 Months	-44.62%	-39.30%	-5.32%
YTD	-29.07%	-20.89%	-8.18%
1 Year	+51.08%	-8.45%	+59.53%
3 Years	-36.26%	+258.39%	-294.65%
5 Years	-36.26%	+23.72%	-59.98%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment	Period	ETHA Fees	GBTC Fees	You Save
$10,000	10 years	$495	$2,818	$2,323
$10,000	20 years	$2,111	$11,373	$9,262
$10,000	30 years	$6,758	$34,483	$27,725
$50,000	10 years	$2,473	$14,089	$11,616
$50,000	30 years	$33,792	$172,415	$138,623
$100,000	30 years	$67,584	$344,829	$277,245

Risk Metrics

Based on 5 years of daily returns

Metric	ETHA	GBTC
Annualized Volatility	74.8%	63.9%
Max Drawdown	-64.0%	-85.8%
Sharpe Ratio	-0.04	0.32

Dividend Comparison

Metric	ETHA	GBTC
Annual Dividend (per share)	$0.00	$0.00
Dividend Yield	0.00%	0.00%
Distribution Frequency	None	None

Top Holdings

ETHA Top Holdings

Name	Weight
Grayscale Ethereum Staking Mini ETF#ETH	100.00%
USD CASHUSD	0.00%

Which One Should You Choose?

Choose ETHA if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose ETHA if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Either works if...

you just need broad cryptocurrency exposure. Both are solid options — pick whichever your brokerage offers commission-free.

Related Comparisons

BITO vs ETHA BITO vs GBTC ETHA vs FBTC ETHA vs IBIT FBTC vs GBTC GBTC vs IBIT