Growth of Hypothetical $10,000 (since inception)
The cumulative return of the Net Asset Value of ETHE. Chart reflects a hypothetical $10,000 investment net of fund expenses, management fees, and other expenses.
Chart Description
The line chart illustrates the growth of a hypothetical $10,000 investment from inception (December 2017) to June 2025. The blue line represents the Net Asset Value (NAV) of ETHE, while the orange line represents the CoinDesk Ether Price Index (ETX). The chart shows significant volatility, with both metrics experiencing substantial growth over the period, alongside notable downturns. The Y-axis displays the value in USD, ranging from $0 to $80,000, and the X-axis represents time.
Performance Data
Chart performance as of 06/30/2025. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted.
Returns*
| Period | Market Price (%) | NAV (%) | CoinDesk Ether Price Index (ETX) (%) |
|---|
| 1M | -2.34% | -2.19% | 37.87% |
| 3M | 37.06% | 36.99% | -24.69% |
| 6M | -25.55% | -25.64% | -24.69% |
| YTD | -25.55% | -25.64% | -25.31% |
| 1Y | X | X | 35.21% |
| 3Y | X | X | 31.88% |
| 5Y | X | X | 57.90% |
| 10Y | X | X | 15.20% |
| Since Inception | -28.93% | -28.84% | 62.07% |
Annualized Returns*
| Period | Market Price (%) | NAV (%) | CoinDesk Ether Price Index (ETX) (%) |
|---|
| 1Y | X | X | 35.21% |
| 3Y | X | X | 31.88% |
| 5Y | X | X | 57.90% |
| 10Y | X | X | 15.20% |
| Since Inception | -28.93% | -28.84% | 62.07% |
*The performance table shows the Trust's performance for the time periods shown from inception through 6/30/2025. ETHE was a private placement until 7/23/2024, when it uplisted to an ETP. The Trust's performance prior to 7/23/2024 is based on market-determined prices on the OTCQX marketplace and on the Trust's performance without an ongoing share creation and redemption program. As of 7/23/2024, the Trust established an ongoing share creation and redemption program and the shares of the Trust were listed to NYSE Arca. Hence, the Trust's returns for periods prior to 7/23/2024 are not directly comparable to, and should not be used to make conclusions in conjunction with, the Trust's performance for periods subsequent to 7/23/2024. Shares of ETHE are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may only be acquired or redeemed from the fund in creation units. NAV is the dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day using the 4PM ET index price. Market Price is the current price at which shares are bought and sold. Market returns are based upon the last trade price. Expenses shown from inception on December 14, 2017 to July 23, 2024 reflects fees of the Trust when the Trust was structured as a private placement while returns after this date reflect the expenses of the Trust after registration as an ETP as reported in the current prospectus. ** Updated as additional returns data becomes available.
Important Information and Risks
Investing involves risk, including possible loss of principal. An investment in the Trust is subject to a high degree of risk and heightened volatility. ETHE is not suitable for an investor that cannot afford the loss of the entire investment. Shares of ETPs may trade at a premium or discount to their net asset value.
Grayscale Ethereum Trust ETF ("ETHE" or the "Trust") has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Trust has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any authorized participant will arrange to send you the prospectus (when available) if you request it by calling (833) 903-2211 or by contacting Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101.
Foreside Fund Services, LLC is the Marketing Agent for ETHE. Grayscale Investments Sponsors, LLC ("Grayscale") is the sponsor of ETHE.
The Trust holds Ether; however, an investment in the Trust is not a direct investment in Ether. As a non-diversified and single industry fund, the value of the shares may fluctuate more than shares invested in a broader range of industries.
Smart contracts are a new technology and ongoing development may magnify initial problems, cause volatility on the networks that use smart contracts and reduce interest in them, which could have an adverse impact on the value of the Trust.
There is no guarantee that a market for the shares will be available which will adversely impact the liquidity of the Trust. The value of the Trust relates directly to the value of the underlying digital asset, the value of which may be highly volatile and subject to fluctuations due to a number of factors.
The Trust relies on third-party service providers to perform certain functions essential to the affairs of the Trust. The replacement of such service providers could pose a challenge to the safekeeping of the digital asset and to the operations of the Trust.
Extreme volatility of trading prices that many digital assets, including Ether, have experienced in recent periods and may continue to experience, could have a material adverse effect on the value of the Trust and the shares could lose all or substantially all of their value. Digital assets represent a new and rapidly evolving industry. The value of the Trust depends on the acceptance of the digital assets, the capabilities and development of blockchain technologies, and the fundamental investment characteristics of the digital asset.
Digital asset networks are developed by a diverse set of contributors, and the perception that certain high-profile contributors will no longer contribute to the network could have an adverse effect on the market price of the related digital assets. Digital assets may have concentrated ownership, and large sales or distributions by holders of such digital assets could have an adverse effect on the market price of such digital assets.
Grayscale does not store, hold, or maintain custody or control of the Trust's digital assets but instead has entered into the Custodian Agreement with a third party to facilitate the security of its digital assets. The Custodian controls and secures the Trust's digital asset accounts, including a segregated custody account to store private keys, which allow for the transfer of ownership or control of the digital asset, on the Trust's behalf. If the Custodian resigns or is removed by the Sponsor or otherwise, without replacement, it could trigger early termination of the Trust.
The Trust will not generate any income and regularly sells/distributes digital assets to pay for its ongoing expenses. Therefore, the amount of digital assets represented by each share will gradually decline over time.
The Trust is subject to significant risk, heightened volatility, and possible loss of the entire principal. Therefore, the Trust is not suitable for all investors.
Website: www.grayscale.com
Contact: info@grayscale.com | 866-775-0313
