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Bitwise Ethereum ETF (ETHW) vs Grayscale Bitcoin Mini Trust ETF (BTC)

How Bitwise Ethereum ETF (ETHW) vs Grayscale Bitcoin Mini Trust ETF (BTC) compare on our ratings, crypto etf specs, funding, pros and cons.

Bitwise Ethereum ETF (ETHW)3.7/5
VS
Grayscale Bitcoin Mini Trust ETF (BTC)4.2/5
Feature
Bitwise Ethereum ETF (ETHW)Visit
Grayscale Bitcoin Mini Trust ETF (BTC)Visit
Ratings
Our score3.7/54.2/5
User ratingNo reviews yetNo reviews yet
Fees3.54.5
Size & liquidity4.04.5
Issuer & custody4.54.5
Structure & tracking4.54.5
Extras (staking, options)2.02.5
Specs
TickerETHWBTC
IssuerBitwiseGrayscale
HoldsEtherBitcoin
StructureSpot ETFSpot ETF
Expense ratio0.2%0.15%
Fee waiver0.00% on first $500M assets for first 6 months through January 22, 2025Not disclosed
Assets under management$260,410,172$4.24B (December 2025)
Listed onNYSE ArcaNYSE Arca
Launch date2024-07-232024-07-31
CustodianCoinbase Custody Trust Co., LLCAnchorage Digital Bank, Coinbase Custody
Stakes its holdings No No
MarketUnited StatesUnited States
Company
Founded20242024
HeadquartersUnited StatesUnited States
InvestorsNot disclosedNot disclosed
Strengths and weaknesses
Pros
  • Trades on NYSE Arca through brokerage accounts
  • 0.20% sponsor fee structure
  • Daily independent proof-of-reserve examinations by The Network Firm
  • 100% physically backed spot ether holdings with no futures exposure
  • Competitive 0.15% annual expense ratio
  • Direct underlying custody through Anchorage Digital Bank and Coinbase Custody
  • Exceeded $4.24B in assets under management by December 2025
  • Holds spot Bitcoin rather than futures or debt instruments
Cons
  • Total expense ratio reaches 0.85% when factoring administrative costs
  • Does not stake ether, foregoing network proof-of-stake yields
  • Custody relies on a single provider, Coinbase Custody Trust Company
  • Standard brokerage accounts cannot withdraw or take delivery of physical Bitcoin
  • Holdings do not generate yield or support staking
  • Restricted to investors with access to United States brokerage platforms
  • Subject to tracking error and secondary market discounts or premiums
Best forUS brokerage account holders, IRA and 401(k) crypto allocations, Investors avoiding private key managementUS brokerage account holders, Retirement and IRA crypto allocations, Cost-sensitive spot Bitcoin investors

Highlighted cells show the stronger value in each row. Data comes from each provider's site and public sources; check details before you sign up.