iShares Ethereum Trust ETF

iShares Ethereum Trust ETF is a Delaware statutory trust that issues exchange-traded shares designed to provide investors with exposure to ether, the native asset of the Ethereum network. The Trust holds ether through third-party custodians and its shares trade on Nasdaq under the ticker ETHA.

— iShares Ethereum Trust ETF
%
Exchange-traded ether exposure100% Shares designed to track the price of ether through direct holdings of the asset.
Creation and redemption services0% Basket-based issuance and redemption mechanics used by authorized participants.
Trust administration and custody structure0% Operational support, custody, execution, and administration around the trust.

The Trust is bought by investors who want ether exposure without directly holding crypto assets or managing wallets and...

  • Retail brokerage investorsprimary

    Buy shares through traditional brokerage accounts to gain ether exposure without handling crypto directly.

  • Institutional allocatorsprimary

    Use the ETF wrapper for portfolio exposure, operational simplicity, and custody convenience.

  • Authorized participantssecondary

    Create and redeem baskets to keep shares aligned with underlying ether value.

  • Secondary-market traderssecondary

    Trade ETHA on Nasdaq for intraday liquidity and price exposure.

The Trust is organized in the United States as a Delaware statutory trust and its shares are listed on Nasdaq in the U...

  • •United States domicile as a Delaware statutory trust
  • •Shares listed and traded on Nasdaq in the U.S.
  • •Underlying exposure is to ether, a global digital asset
  • •Custody, execution, and administration are U.S.-centered
  • •Performance depends on U.S. market access and trading hours

The Trust’s core strategy is to provide simple, listed exposure to ether through a familiar ETF structure rather than...

01
Grow assets and secondary-market liquidityshort-term

Scale improves trading depth, market acceptance, and product viability versus competing ether ETFs.

02
Maintain efficient ether trackingshort-term

The product is designed to mirror ether price performance, so pricing and valuation integrity are central.

03
Preserve operational resiliencemedium-term

The trust depends on custodians, execution agents, and market infrastructure to function normally.

The Trust is exposed to ether price volatility, competition from other exchange-traded ether products, and operational...

high

Ether price volatility

Share value is intended to reflect ether, so changes in the underlying asset flow directly into the ETF.

Scope
Underlying asset exposure
Materiality
high
high

Competition from other ether ETFs

Competing products can attract assets with lower fees or better liquidity, reducing market acceptance.

Scope
Product adoption and trading liquidity
Materiality
high
high

Third-party custody and execution dependence

The trust relies on Coinbase Custody, Coinbase Inc., and other providers to hold and transact ether.

Scope
Operational continuity
Materiality
high
high

Cybersecurity and technology failure

Digital asset custody and blockchain-related operations are vulnerable to hacks, outages, and technical errors.

Scope
Service providers and Ethereum network
Materiality
high
medium

Tracking and valuation risk

NAV depends on benchmark pricing and fair value processes that may differ from market prices.

Scope
NAV calculation and secondary-market pricing
Materiality
medium
Fair value measurement of ether
Can create differences between reported NAV and market perceptions of value
Benchmark pricing and fair value hierarchy
May cause reported NAV to diverge from other pricing sources
Sponsor fee and expense allocation
Affects per-share asset backing over time
Creations and redemptions
Impacts share count, asset base, and comparability across periods

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: 29/04/2026