Key Highlights

  • The trust seeks to reflect the price of ether, the native token of the Ethereum network.
  • Net Assets were about $6.0 billion on November 11, 2026.
  • The sponsor fee is 0.25 percent, and the trust holds no distributions schedule.
  • The fund carries notable price Volatility and custody risks described in its prospectus.

The iShares Ethereum Trust ETF (NASDAQ:ETHA) closed at $46.49 on November 10, 2026, with net assets of about $6.0 billion as of November 11. The trust seeks to reflect generally the performance of the price of ether, the native token of the Ethereum network. It offers exposure to ether through traditional brokerage accounts, which removes the need for direct crypto custody by the investor.

Ticker and exchange

ETHA, NASDAQ

Benchmark index

CME CF Ether Dollar Reference Rate - New York Variant

Net asset value

$47.02 (Nov 11, 2026)

Daily NAV change

Up $0.67 (1.44%)

Net assets

$5,994,856,158

Shares outstanding

127,493,284

Sponsor fee

0.25%

Ether held by the trust

2,883,937.52280

Fund inception

June 24, 2024

Distribution frequency

None

How the Trust Is Structured

The trust is not an Investment company registered under the Investment Company Act of 1940, and it is not a Commodity pool for purposes of the Commodity Exchange Act. Its shares are intended to reflect, at any given time, the Market Price of the ether it owns, less the trust's expenses and liabilities.

The trust holds a single asset. Its net asset value is determined by measuring its ether against the CME CF Ether Dollar Reference Rate, a benchmark that the prospectus notes has a limited history. The trust also has no distributions, so returns to shareholders depend entirely on changes in the price of ether and on the shares' market price.

Trading and Market Activity

Shares of the trust traded about 11.8 million times on November 10, 2026, compared with a 30-day Average Daily Volume of roughly 9.1 million shares. The 30-day median bid-ask spread was 0.02 percent. The shares were trading at a premium of 0.30 percent to net asset value on that date.

Shares can be bought and sold through any brokerage account on the secondary market. Only authorized participants can create or redeem baskets of shares directly with the trust, which keeps the market price closely linked to the value of the underlying ether.

Risk Factors Described in the Prospectus

The fund documentation highlights several risks, including extreme price volatility, the potential for loss or theft of private keys, and changes in the governance of the Ethereum network. Regulatory developments and the security of the network can also affect the value of ether and the shares.

The trust's ether holdings decline over time as the sponsor fee and trust expenses are paid through sales of ether. Investors should weigh these risks carefully before considering the shares, and the prospectus contains a full discussion of them.

Final Word

ETHA offers a single-asset structure that links its share price to ether through a regulated listing in brokerage accounts. The 0.25 percent sponsor fee, the absence of distributions and the trust's exposure to digital asset price swings define its main features. The trust's value will continue to track the market price of ether, which the prospectus describes as highly volatile.