ETHE Grayscale Ethereum Trust

Spot Ethereum ETF · by Grayscale · Ethereum ETF flows · fee 2.50%

ETHE saw net outflows of −$21.5M on Fri 30 Oct. Outflows 2 trading days in a row. All Ethereum ETFs: −$155.7M.

Share price$17.95−0.83% · −$0.15last trade Fri 30 Oct 23:40 UTC

Net flow, last day−$21.5M14% of Ethereum ETF flowFri 30 Oct · T+1

Cumulative net flow−$5.54Bsince 23 Jul 2024

Avg entry vs close−32.7%avg entry $3,362 · ETH $2,264

Net assets$1.54B

Day volume1.9Mshares, last session

Clients' P&L in ETHE

At a loss

On average, ETHE clients bought ETH at $3,362. At the 30 Oct 2026 close of $2,264 they are at a loss: −$835.2M (−32.7%) on paper.

Unrealised P&L−$835.2M−32.7%avg entry $3,362ETH close $2,264

Avg entry · break-even: $3,362
ETH close: $2,264
Invested: $2.56B
Current value: $1.72B
ETH in the fund: 760,496

Avg entry vs ETH price

Daily · US$ · as of 30 Oct 2026

ETH priceAvg entryClients in profitUnder water

$2K$3K$4K

$2,264$3,362Oct 25Jan 26May 26Jul 26Oct 26

Avg entry is our estimate from daily creations and redemptions × the coin price that day · unrealised · not an issuer reportIn profit on 6 of 365 days

ETF cost basis

ETHE price and net flow

Daily close · price history since 15 Jun 2026 · Net flow: daily creations and redemptions, US$ m

Share price: exchange close · flow: T+1Share price +29.7% over the period

Fund facts

Price · 1D / 7D / 30D: $17.95 −0.83% / −6.46% / −17.24%
Day volume: 1.9M shares
Expense ratio: 2.50% What 2.50% costs per year
Launched: 23 Jul 2024
13F holders: 253 · Jun 30, 2026
Price history since: 15 Jun 2026

Price RangeNow $17.95 (55% of range)

all-time low $12.30Average price $17.65all-time high $22.52

Staking

Ethereum ETF staking

Status: Stakes
Share staked: 82% · 22 Oct
Staking yield: 2.02% · issuer
Rewards: Paid in cash, monthly
Last payout: $0.0320 per share on 5 Oct
Cap in prospectus: 100%

Filing: 10-Q · Fri 7 Aug

Coins held: 689,521 ETHestimated
Share of ETF coins: 11.4%
Issuer's fee revenue: $38.5M a year$105.4K a day at current assets

ETHE net flow by day

Last 20 trading days, US$ m · share = ETHE’s part of all Ethereum ETF flow when both move the same way

Date	Net flow	Share of ETH ETFs	All ETH ETFs	Close
Fri 30 Oct	−$21.5M	14%	−$155.7M	$17.95
Thu 29 Oct	−$15.5M	15%	−$105.5M	$17.99
Wed 28 Oct	0	—	−$21.4M	$18.85
Tue 27 Oct	0	—	−$60.2M	$18.80
Mon 26 Oct	0	—	−$88.6M	$18.52
Fri 23 Oct	0	—	+$4.4M	$19.19
Thu 22 Oct	−$9.6M	9%	−$110.5M	$19.11
Wed 21 Oct	0	—	+$14.9M	$19.88
Tue 20 Oct	0	—	−$26.2M	$19.64
Mon 19 Oct	−$1.9M	2%	−$103.3M	$19.28
Fri 16 Oct	0	—	−$69.7M	$19.43
Thu 15 Oct	−$18.3M	30%	−$60.3M	$19.60
Wed 14 Oct	0	—	−$129.5M	$19.37
Tue 13 Oct	0	—	+$24.8M	$20.13
Mon 12 Oct	0	—	−$85.4M	$19.60
Fri 9 Oct	0	—	−$56.1M	$20.00
Thu 8 Oct	−$6.1M	8%	−$72.6M	$19.88
Wed 7 Oct	−$25.8M	16%	−$160.7M	$20.60
Tue 6 Oct	0	—	−$201.9M	$21.68
Mon 5 Oct	0	—	−$50.8M	$21.80

Streaks and records

descriptive, not a signal

Current outflow run: 2 days · since 29 Oct
Largest inflow, all time: +$53.7M · 22 Dec 2025
Largest outflow, all time: −$484.1M · 23 Jul 2024
Inflow days in 2026: 24 of 209
Best month: +$1.5M · Aug 2026
Worst month: −$1.98B · Jul 2024

All records · 30D / 90D / 1Y

Window	Largest inflow	Largest outflow
Last 30 trading days	+$10.4M22 Sep 2026	−$25.8M7 Oct 2026
Last 90 trading days	+$10.4M22 Sep 2026	−$25.8M7 Oct 2026
Last 12 months	+$53.7M22 Dec 2025	−$67.9M13 Nov 2025

Trading days only. A day where a fund has not reported is skipped, not counted as zero.

“—” in Share: ETHE moved against the market, or more than the market totalAll days on Ethereum ETF flows ›

Who holds ETHE: institutional holders from 13F

253 institutions reported holding ETHE on June 30, 2026, with $95.4M at quarter-end prices (7.5M shares). The largest holder was State of Michigan Retirement System (pension & sovereign) with $5.9M; the top 10 held 36% of the reported value. By value, wealth advisers held 46.3% and market makers 9.2%.

13F filings for the quarter ended Jun 30, 2026 · next update after Nov 14, 2026 · What is a 13F?

Institutions holding253−7 vs Q1 26

Reported value$95.4Mat Jun 30 prices

Shares reported7.5M≈7.8% of the fund

Net change in shares−0.78M−9.5% vs Q1 26 · −$10.0M at Jun 30 prices

ETHE holders by type

Holder mix by value · our classificationshare of the $95.4M

Bank & broker 5.0%
Market maker 9.2%
Hedge fund 7.3%
Asset manager 0.1%
Pension & sovereign 6.2%
Wealth adviser 46.3%
Other managers 26.0%

Top 10 ETHE holders on Jun 30, 2026

Top 10 ETHE holders on Jun 30, 2026
#	Holder	Type · our classification	Value	Shares	Change in shares, q/q	Holding since
1	State of Michigan Retirement SystemEast Lansing · Pension & sovereign	Pension & sovereign	$5.9M	460K	unchanged	Q3 24
2	Virtu FinancialNew York · Market maker	Market maker	$4.0M	313K	+0.31M new	Q2 26 · re-entered
3	Citadel AdvisorsMiami · Hedge fund	Hedge fund	$3.7M	293K	−33K −10%	Q1 26
4	Integrated Advisors NetworkDallas · Wealth adviser	Wealth adviser	$3.6M	283K	−76K −21%	Q3 24
5	Robertson Opportunity CapitalDallas · Other managers	Other managers	$3.2M	252K	unchanged	Q3 24
6	LPL FinancialFort Mill · Bank & broker	Bank & broker	$3.0M	236K	−27K −10%	Q3 24
7	Wealthfront AdvisersPalo Alto · Wealth adviser	Wealth adviser	$3.0M	237K	−35K −13%	Q3 24
8	Jane StreetNew York · Market maker	Market maker	$2.7M	215K	+11K +5%	Q3 24
9	Titleist Asset ManagementSan Antonio · Other managers	Other managers	$2.7M	211K	−3K −1%	Q3 25
10	RBF CapitalReno · Other managers	Other managers	$2.6M	200K	unchanged	Q3 24

Top 10 of 253 · sorted by value · type is our classificationAll 253 ETHE holders

Institutions in Ethereum ETFs ›Institutional holders of all crypto ETFs ›

Long positions on the last day of the quarter, as filed by managers over $100M. Shorts, futures and retail investors are not in 13F. Changes are in shares, so the coin price does not move them.

Other spot Ethereum ETFs

ETHE is one of several US-listed spot Ethereum ETFs. Compare it with the other funds tracking Ethereum:

All 11 on Ethereum ETF flows ›

Fund	Issuer	Flow · Fri 30 Oct	Cumulative	Fee	Price	1D
ETHAiShares Ethereum Trust	BlackRock	−$76.6M	+$11.87B	0.25%	$50.68	+0.06%
FETHFidelity Ethereum Fund	Fidelity	−$3.3M	+$2.44B	0.25%	$22.30	−0.27%
ETHGrayscale Ethereum Mini Trust	Grayscale	−$34.1M	+$2.00B	0.15%	$21.35	−0.47%
ETHBiShares Staked Ethereum Trust	BlackRock	−$19.5M	+$833.0M	0.25%	$28.90	−2.32%
ETHWBitwise Ethereum ETF	Bitwise	0	+$393.5M	0.20%	$15.97	−4.29%
ETHVVanEck Ethereum ETF	VanEck	0	+$154.5M	0.20%	$32.63	−4.24%
EZETFranklin Ethereum ETF	Franklin Templeton	0	+$64.8M	0.19%	$16.92	−4.33%
MSSEMorgan Stanley Ethereum Trust	Morgan Stanley	−$0.7M	+$45.0M	0.14%	$24.16	−0.25%
TETH21Shares Core Ethereum ETF	21Shares	0	+$25.5M	0.21%	$11.12	−4.62%
QETHInvesco Galaxy Ethereum	Invesco	0	+$22.0M	0.25%	$22.21	−4.31%
ETHEGrayscale Ethereum Trustthis fund	Grayscale	−$21.5M	−$5.54B	2.50%	$17.95	−0.83%

Grayscale at the SEC

ETHE went from first filing to trading in 1,447 days. Grayscale has 13 crypto ETFs trading, 4 waiting, 4 withdrawn.

All Grayscale filings ›

ETHE’s path to listing

First filing6 Aug 2020
No amendments
Effective22 Jul 2024
Trading on NYSE23 Jul 2024

1447 days at the SEC

Filing history

Other Grayscale filings waiting
Waiting fund	Stage	Last document	At the SEC
Grayscale BNB ETFBNB	Amending	3 Jun 2026	281 days
Grayscale Aave Trust (AAVE)Aave	Amending	12 May 2026	260 days
Grayscale Canton ETFCanton	Filed	5 Jun 2026	148 days
Grayscale Worldcoin ETFWorldcoin	Filed	20 Jul 2026	103 days

Open the filings tracker

About Grayscale Ethereum Trust (ETHE)

What the data says

ETHE did not start from zero. It existed as a Grayscale trust and became an ETF on 23 Jul 2024. Since then investors have taken out $5.54B more than they put in, the largest net outflow of any Ethereum ETF. Our flow record starts on the listing day: coins the trust already held are not counted as inflow. Grayscale reports net assets of $1.54B, 11% of the Ethereum ETF total and the 3rd largest of 11 by size.

ETHE is a staking fund: it stakes Ethereum it holds to earn network rewards. Among Ethereum ETFs, ETHB, FETH, TETH, MSSE and ETH also stake. Grayscale also runs another Ethereum ETF, ETH.

Redemptions are the norm here: 234 outflow days against 71 inflow days since 23 Jul 2024. The heaviest day took out $484.1M on 23 Jul 2024, while the best inflow day managed $53.7M on 22 Dec 2025. As of 30 Oct 2026, ETHE is on a 2-day outflow run worth $37.0M. Its best calendar month was Aug 2026 ($1.5M in); its worst, Jul 2024 ($1.98B out).

In the last 30 trading days to 30 Oct 2026 it lost $107.0M, 10th of 11 Ethereum ETFs over that stretch; the whole Ethereum group lost $962.2M.

ETHE charges 2.50% a year, the highest fee among 11 Ethereum ETFs and 11.9 times the median of 0.21%. On a $10,000 holding that is $250 a year, against $21 at a median-priced fund.

ETHE has the highest average entry of the 11 Ethereum ETFs we estimate: $3,362, against a 30 Oct 2026 close of $2,264. Its holders are −32.7% (−$835.2M) under water, because most of the money arrived above today's price.

Figures as of 30 Oct 2026 (flows, T+1); holders' average entry at the 30 Oct 2026 close. Not investment advice.

ETHE ETF — FAQ

When did ETHE start trading?

ETHE began trading as an ETF on 23 Jul 2024. Before that it existed as a Grayscale trust.

Is ETHE cheaper than other Ethereum ETFs?

No. ETHE charges 2.50% a year. Across 11 Ethereum ETFs the fee runs from 0.14% to 2.50%, with a median of 0.21%; ETHE is 11th from the cheapest.

How much has flowed into ETHE since launch?

Net outflow of $5.54B from 23 Jul 2024 to 30 Oct 2026. Net flow is the dollar value of shares created minus shares redeemed.

Are ETHE holders in profit?

No, on paper they are at a loss. Our estimate of their average entry is $3,362 per ETH; the 30 Oct 2026 close was $2,264, a result of −32.7% (−$835.2M). The estimate comes from daily creations and redemptions valued at that day's coin price, not from an issuer report.

What was the biggest day for ETHE?

The largest net inflow was $53.7M on 22 Dec 2025. The largest net outflow was $484.1M on 23 Jul 2024. Counted over 559 trading days through 30 Oct 2026.

Was ETHE a trust before it became an ETF?

Yes. ETHE existed as a Grayscale trust before it listed as an ETF on 23 Jul 2024. Flows on this page start at the listing: coins the trust held before that are not counted as inflow.

Does ETHE stake its Ethereum?

Yes. ETHE is one of the staking Ethereum ETFs on our list, together with ETHB, FETH, TETH, MSSE and ETH. Rewards are earned inside the fund; Grayscale's fund page has the current staking share and reward terms.

Who owns the most ETHE?

Grayscale issues ETHE; the shares are owned by investors. Among institutions filing Form 13F, the largest ETHE holder on June 30, 2026 was State of Michigan Retirement System with 460K shares worth $5.9M, followed by Virtu Financial ($4.0M) and Citadel Advisors ($3.7M). In total 253 institutions reported ETHE, worth $95.4M.

Prices and statistics on this page are derived from market data tracked by CryptoETF.today and are for informational purposes only. This is not investment advice. Verify fund details, fees and holdings on the issuer's official page before investing.