What Are the Top Ethereum ETFs in the World?
XBT Ethereum Tracker One (COINETH) is the global top Ethereum exchange-traded fund (ETF), with by far the biggest asset size of $3.34 billion. Another product from the same provider, XBT Ethereum Tracker Euro (COINETHE), is the second biggest Ethereum ETF with $510.93 million in total assets. Both COINETH and COINETHE are Ethereum futures ETFs traded in Europe.
COINETH and COINETHE were launched together in October 2017 as the world’s first Ethereum ETFs, just ahead of Grayscale’s Ethereum unit trust launch in December.
The top spot Ethereum ETF is Canada’s CI Galaxy Ethereum ETF (ETHX), which has $478.35 million in total assets. Europe’s 21Shares Ethereum Staking ETP (AETH) ranks as the second biggest spot Ethereum ETF. AETH holds $329.42 million in total assets, and launched in 2019 as the first spot Ethereum ETF worldwide.
All of the global top 10 Ethereum ETFs are traded in either Canada or Europe. In comparison, the US Ethereum ETFs ranked 14th or lower. This comes as the US SEC continues to delay its decision on spot Ethereum ETF applications, and it remains to be seen if the US can catch up to Canada and Europe.
How Many Ethereum ETFs Are There?
There are currently 27 active Ethereum ETFs worldwide, with a combined $5.70 billion in total assets. Their combined asset size is still smaller than Grayscale Ethereum Trust (ETHE) alone, which has $6.76 billion in total assets.
Notably, the top 10 biggest Ethereum ETFs account for a disproportionate $5.49 billion or 96.4% of assets. This suggests that a few players dominate the Ethereum ETF market, despite more products and providers entering the market.
Out of the 27 Ethereum ETFs globally, 20 are spot Ethereum ETFs and 7 are Ethereum futures ETFs. However, Ethereum futures ETFs represent a combined $3.91 billion in asset size (68.5%), or more than twice the $1.80 billion (31.5%) held in spot Ethereum ETFs. If the US SEC approves spot Ethereum ETFs and Grayscale’s Ethereum Trust conversion, it is possible that spot Ethereum ETFs may flip Ethereum futures ETFs.
2021, 2022 Most Popular Years for Ethereum ETF Launches
After the first Ethereum ETFs were launched in 2017, none followed in 2018 as the overall crypto market peaked and declined. 2019 and 2020 saw one Ethereum ETF launch each, in Europe and Canada respectively.
Amid the 2021 crypto bull market, Ethereum ETFs gained popularity and 12 were launched across Europe, Canada and Brazil. The momentum of TradFi adoption continued but at a slower pace, with 6 Ethereum ETFs in 2022 and 4 in 2023.
| Year | No. Ethereum ETFs Launched | New ETFs' Geographical Market |
|---|---|---|
| 2017 | 2 | Europe |
| 2018 | 0 | - |
| 2019 | 1 | Europe |
| 2020 | 1 | Canada |
| 2021 | 12 | Europe, Canada, Brazil |
| 2022 | 6 | Europe, Canada, Australia, Hong Kong |
| 2023 | 4 | Europe, US |
Which Countries Have Ethereum ETFs?
Ethereum ETFs are incorporated in 13 countries worldwide and traded in 7 geographical markets. Specifically, spot Ethereum ETFs are incorporated in 10 countries and traded in 5 markets, while Ethereum futures ETFs are incorporated in just 4 countries and traded in 3 markets.
Europe and Canada are leading the Ethereum ETF market: Europe has 3 Ethereum futures ETFs and 10 spot Ethereum ETFs, with a combined $4.65 billion asset size or 81.45% global market share. Canada has 6 spot Ethereum ETFs with $949.25 million in combined assets, representing 16.64% global market share.
Brazil ranks as the third largest Ethereum ETF market, with 2 spot Ethereum ETFs holding $47.30 million assets (0.83%), followed by US’ $43.04 million total assets across 3 Ethereum futures ETFs (0.75%).
The smaller markets for Ethereum ETFs are Hong Kong (0.21%) and Australia (0.10%).
Notably, the US and Hong Kong only have Ethereum futures ETFs, whereas Canada, Brazil and Australia only have spot Ethereum ETFs. Europe is the sole market where both futures and spot ETFs are offered.
Countries Where Ethereum ETFs Are Incorporated
| Country of Incorporation | No. Ethereum ETFs | Total Assets (USD) |
|---|---|---|
| Sweden | 2 | $3,851.53 million |
| Canada | 6 | $949.25 million |
| Switzerland | 2 | $335.63 million |
| Jersey | 5 | $257.61 million |
| Liechtenstein | 2 | $105.03 million |
| Germany | 1 | $84.72 million |
| United States | 3 | $43.04 million |
| Bermuda | 1 | $30.12 million |
| Brazil | 1 | $17.18 million |
| Hong Kong | 1 | $12.05 million |
| Guernsey | 1 | $10.71 million |
| Australia | 1 | $5.98 million |
Global Ethereum Futures & Spot ETFs Ranked
All Ethereum-only futures and spot ETFs, ranked by total assets in USD as of February 2, 2024:
| Rank | Ethereum ETF | Total Assets (USD) |
|---|---|---|
| 1 | XBT Provider Ethereum Tracker One (COINETH) | $3,340.60 million |
| 2 | XBT Provider Ethereum Tracker Euro (COINETHE) | $510.93 million |
| 3 | CI Galaxy Ethereum ETF (ETHX) | $478.35 million |
| 4 | 21Shares Ethereum Staking ETP (AETH) | $329.42 million |
| 5 | Purpose Ether ETF (ETHH) | $231.50 million |
| 6 | CoinShares Physical Staked Ethereum (ETHE) | $196.60 million |
| 7 | 3iQ The Ether Fund (QETH) | $162.27 million |
| 8 | VanEck Ethereum ETN (VETH) | $103.28 million |
| 9 | ETC Group Physical Ethereum (ZETH) | $84.72 million |
| 10 | WisdomTree Physical Ethereum (ETHW) | $57.25 million |
| 11 | Evolve Ether ETF (ETHR) | $43.96 million |
| 12 | Hashdex Nasdaq Ethereum ETF (HETH.BH) | $30.12 million |
| 13 | 3iQ Ether Staking ETF (ETHQ) | $28.54 million |
| 14 | ProShares Ether Strategy ETF (EETH) | $22.29 million |
| 15 | QR CME CF Ether Reference Rate FDI (QETH11) | $17.18 million |
| 16 | VanEck Ethereum Strategy ETF (EFUT) | $16.81 million |
| 17 | CSOP Ether Futures ETF (3068) | $12.05 million |
| 18 | AMINA Ethereum ETP (SETH) | $10.71 million |
| 19 | 21Shares Ethereum Core ETP (ETHC) | $6.21 million |
| 20 | Global X 21 Shares Ethereum ETF (EETH) | $5.98 million |
| 21 | Fidelity Advantage Ether ETF (FETH) | $4.63 million |
| 22 | Bitwise Ethereum Strategy ETF (AETH) | $3.93 million |
| 23 | Global X Ethereum ETP (ET0X) | $3.44 million |
| 24 | DDA Physical Ethereum ETP (IETH) | $1.74 million |
| 25 | Valour Ethereum Zero (ETH0) | $0.24 million |
| 26 | 1Valour Ethereum Physical Staking (1VET) | $0.09 million |
Methodology
The study examined Ethereum futures and spot exchange-traded funds (ETFs) or exchange-traded products (ETPs) based on Bloomberg and public data as of February 2, 2024. For the purpose of this study, ‘ETFs’ and ‘ETPs’ were used interchangeably; Grayscale Ethereum Trust was not included as an ETF due to its close-ended structure. If you notice any active Ethereum ETFs or ETPs missing from this list, please drop a note to the author via Twitter/X.
This study is for illustrative and informational purposes only, and is not financial advice. Always do your own research and be careful when putting your money into any crypto or financial asset.
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Curious to find out more about our previous research studies & statistics? Check out this one we did about the top Bitcoin ETFs.
Yuqian is a cryptocurrency writer and marketer who specializes in mainstream cryptocurrency insights. She's especially fascinated by the philosophical and socioeconomic aspects of crypto and also goes by the name of Q. She holds a Bachelor of Social Sciences with Honors from the National University of Singapore. Follow the author on Twitter @solosbrqt
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