iShares vs Bitwise ETFs: Significant Differences in Costs and Returns
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 24 2026
0mins
Should l Buy ETHA?
Source: Fool
- Cost Comparison: iShares' ETHA ETF has a lower expense ratio of 0.25% compared to Bitwise's BITQ at 0.85%, indicating that holding ETHA over time may result in higher net returns for investors.
- Return Performance: As of January 24, 2026, BITQ's one-year return stands at 26.3%, while ETHA shows a negative return of -9.94%, highlighting BITQ's superior performance over the past year, making it suitable for investors seeking higher yields.
- Risk Analysis: ETHA's maximum drawdown is -58.52%, compared to BITQ's -45.51%, suggesting that ETHA carries higher risk, necessitating careful consideration of its single-asset concentration and associated volatility by investors.
- Portfolio Structure: BITQ invests in 33 companies related to the cryptocurrency sector, providing indirect market risk exposure, whereas ETHA relies solely on Ethereum's price fluctuations, lacking diversification and appealing to investors with higher risk tolerance.
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Analyst Views on ETHA
Wall Street analysts forecast ETHA stock price to rise
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 14.460
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Current: 14.460
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Long-Term Investment Potential of Bitcoin and Ethereum
- Bitcoin Market Dominance: Since its launch in 2009, Bitcoin has delivered a staggering 114,000% return, with its price expected to exceed $100,000 by the end of 2024 and potentially reach $1 million by 2030, highlighting its strong potential as a long-term investment.
- Ethereum's Rise: Launched in 2015, Ethereum has achieved a remarkable 75,000% return and has established itself as the dominant blockchain network, accounting for approximately 10% of the total crypto market value, thanks to its strength in decentralized finance.
- Investment Strategy Recommendation: Investors can buy Bitcoin and Ethereum directly through cryptocurrency exchanges or opt for the newly introduced spot crypto ETFs in 2024, which facilitate easier portfolio diversification and enhance investment efficiency.
- Future Growth Expectations: Should Bitcoin and Ethereum replicate their past decade's performance, a $500 investment could see significant appreciation over the next ten years, attracting more investors to the long-term potential of crypto assets.
See More
BMNR Analysts Project Over 100% Upside Amid Institutional Buying
- Institutional Investment Surge: BlackRock increased its stake in BMNR by 165.6% in Q4 2025, adding 5,642,590 shares to reach a total of 9,049,912 shares valued at approximately $245.7 million, indicating strong confidence in the company's prospects.
- ARK Invest Increases Holdings: On the same day, ARK Invest purchased 212,314 shares of BMNR across three ETFs in a $4.2 million transaction, raising its total holdings to 9,457,330 shares, further solidifying its investment position in the company.
- Analyst Rating Upgrade: Analysts have generally upgraded BMNR, with 75% rating it as a “strong buy” and projecting an upside of over 105%, reflecting optimistic expectations for its future performance in the market.
- Ethereum Price Impact: Despite Ethereum trading approximately 60% below its August 2025 peak, the strong performance of BMNR and increased institutional investments suggest a positive outlook for its Ethereum-linked business, potentially attracting more investor interest.
See More
Comparison of VanEck and iShares Crypto ETFs
- Cost and Scale Comparison: Both VanEck's HODL and iShares' ETHA have an expense ratio of 0.25%, with HODL managing $1.1 billion compared to ETHA's $6.29 billion, indicating that HODL's smaller size may impact investors prioritizing scale.
- Performance and Risk Analysis: HODL's maximum drawdown over the past year was 49.25%, while ETHA's was 61.57%, suggesting HODL has better risk control despite both facing high volatility.
- Market Performance Warning: Both Bitcoin and Ethereum posted negative returns in 2025, marking the first annual decline since 2022, serving as a reminder of the crypto market's volatility akin to the stock market, necessitating cautious investment.
- Long-term Performance Outlook: HODL has increased nearly 40% since inception, while ETHA has fallen 41%, indicating that while HODL currently shows better promise, its long-term performance remains to be seen, especially with ongoing institutional and governmental interest in Bitcoin.
See More
Comparison Analysis of Bitcoin and Ethereum ETFs
- Cost and Scale: Both iShares Bitcoin Trust ETF (IBIT) and iShares Ethereum Trust ETF (ETHA) charge a 0.25% expense ratio, yet IBIT boasts an AUM of $51.53 billion compared to ETHA's $6.29 billion, which may influence investor decisions based on scale.
- Annual Return Performance: As of February 14, 2026, IBIT reported a one-year return of -29.35%, while ETHA recorded -23.90%, indicating that both funds faced negative returns over the past year, reflecting the high volatility of the crypto market.
- Risk Comparison: IBIT's maximum drawdown stands at -49.36%, whereas ETHA's is -61.57%, suggesting that ETHA exhibits poorer risk management, potentially leading risk-averse investors to favor IBIT.
- Long-term Performance Outlook: Although IBIT has increased nearly 40% since inception while ETHA has fallen 41%, the market's volatility makes it premature to assert that IBIT will consistently outperform ETHA in the long run, necessitating caution among investors.
See More
BitMine Faces Nearly $8 Billion in Unrealized Losses
- Unrealized Loss Overview: BitMine recorded nearly $8 billion in unrealized losses after Ethereum (ETH) fell below $2,000, indicating significant financial pressure as its 4.3 million ETH holdings lost substantial market value.
- Market Reaction and Stock Volatility: BitMine Immersion Technologies (BMNR) shares sharply declined during Ethereum's downturn, although they saw a slight 1.07% increase in after-hours trading, reflecting investor concerns over the market value of its ETH holdings and overall financial health.
- Operational and Financial Status: Despite facing massive losses, BitMine has no plans to liquidate its assets, holding approximately $600 million in cash with an annual yield of about 4%, and generating around $1 million in net income daily, showcasing its financial resilience in adversity.
- Ethereum Network Activity Growth: Despite the drop in ETH prices, Tom Lee highlighted a 117% year-over-year increase in active Ethereum addresses and an 80% rise in network usage over the past six months, suggesting that robust underlying network activity may lay the groundwork for future market recovery.
See More
Pilgrim Partners Asia Sells $16.21M in iShares Ethereum Trust ETF
- Transaction Overview: Pilgrim Partners Asia disclosed in a February 2 SEC filing that it sold 620,000 shares of the iShares Ethereum Trust ETF during Q4, amounting to an estimated $16.21 million, reflecting a cautious stance towards the Ethereum market.
- Value Decline: The sale resulted in a $19.63 million drop in the quarter-end value of its ETHA position, highlighting the direct impact of market volatility on its investment portfolio, with ETHA now representing only 0.11% of reportable AUM.
- Market Performance Comparison: As of February 2, ETHA shares were priced at $17.50, down 14.8% over the past year, significantly underperforming the S&P 500's approximately 15% gain, indicating poor performance of the ETF in the market.
- Investment Strategy Analysis: This sale is viewed as a risk management measure rather than a rejection of digital assets, as Pilgrim Partners continues to hold other high-volatility assets, demonstrating their investment discipline in liquidity and risk management.
See More
Long-Term Investment Potential of Bitcoin and Ethereum
- Bitcoin Market Dominance: Since its launch in 2009, Bitcoin has delivered a staggering 114,000% return, with its price expected to exceed $100,000 by the end of 2024 and potentially reach $1 million by 2030, highlighting its strong potential as a long-term investment.
- Ethereum's Rise: Launched in 2015, Ethereum has achieved a remarkable 75,000% return and has established itself as the dominant blockchain network, accounting for approximately 10% of the total crypto market value, thanks to its strength in decentralized finance.
- Investment Strategy Recommendation: Investors can buy Bitcoin and Ethereum directly through cryptocurrency exchanges or opt for the newly introduced spot crypto ETFs in 2024, which facilitate easier portfolio diversification and enhance investment efficiency.
- Future Growth Expectations: Should Bitcoin and Ethereum replicate their past decade's performance, a $500 investment could see significant appreciation over the next ten years, attracting more investors to the long-term potential of crypto assets.
See More
BMNR Analysts Project Over 100% Upside Amid Institutional Buying
- Institutional Investment Surge: BlackRock increased its stake in BMNR by 165.6% in Q4 2025, adding 5,642,590 shares to reach a total of 9,049,912 shares valued at approximately $245.7 million, indicating strong confidence in the company's prospects.
- ARK Invest Increases Holdings: On the same day, ARK Invest purchased 212,314 shares of BMNR across three ETFs in a $4.2 million transaction, raising its total holdings to 9,457,330 shares, further solidifying its investment position in the company.
- Analyst Rating Upgrade: Analysts have generally upgraded BMNR, with 75% rating it as a “strong buy” and projecting an upside of over 105%, reflecting optimistic expectations for its future performance in the market.
- Ethereum Price Impact: Despite Ethereum trading approximately 60% below its August 2025 peak, the strong performance of BMNR and increased institutional investments suggest a positive outlook for its Ethereum-linked business, potentially attracting more investor interest.
See More
Comparison of VanEck and iShares Crypto ETFs
- Cost and Scale Comparison: Both VanEck's HODL and iShares' ETHA have an expense ratio of 0.25%, with HODL managing $1.1 billion compared to ETHA's $6.29 billion, indicating that HODL's smaller size may impact investors prioritizing scale.
- Performance and Risk Analysis: HODL's maximum drawdown over the past year was 49.25%, while ETHA's was 61.57%, suggesting HODL has better risk control despite both facing high volatility.
- Market Performance Warning: Both Bitcoin and Ethereum posted negative returns in 2025, marking the first annual decline since 2022, serving as a reminder of the crypto market's volatility akin to the stock market, necessitating cautious investment.
- Long-term Performance Outlook: HODL has increased nearly 40% since inception, while ETHA has fallen 41%, indicating that while HODL currently shows better promise, its long-term performance remains to be seen, especially with ongoing institutional and governmental interest in Bitcoin.
See More
Comparison Analysis of Bitcoin and Ethereum ETFs
- Cost and Scale: Both iShares Bitcoin Trust ETF (IBIT) and iShares Ethereum Trust ETF (ETHA) charge a 0.25% expense ratio, yet IBIT boasts an AUM of $51.53 billion compared to ETHA's $6.29 billion, which may influence investor decisions based on scale.
- Annual Return Performance: As of February 14, 2026, IBIT reported a one-year return of -29.35%, while ETHA recorded -23.90%, indicating that both funds faced negative returns over the past year, reflecting the high volatility of the crypto market.
- Risk Comparison: IBIT's maximum drawdown stands at -49.36%, whereas ETHA's is -61.57%, suggesting that ETHA exhibits poorer risk management, potentially leading risk-averse investors to favor IBIT.
- Long-term Performance Outlook: Although IBIT has increased nearly 40% since inception while ETHA has fallen 41%, the market's volatility makes it premature to assert that IBIT will consistently outperform ETHA in the long run, necessitating caution among investors.
See More
BitMine Faces Nearly $8 Billion in Unrealized Losses
- Unrealized Loss Overview: BitMine recorded nearly $8 billion in unrealized losses after Ethereum (ETH) fell below $2,000, indicating significant financial pressure as its 4.3 million ETH holdings lost substantial market value.
- Market Reaction and Stock Volatility: BitMine Immersion Technologies (BMNR) shares sharply declined during Ethereum's downturn, although they saw a slight 1.07% increase in after-hours trading, reflecting investor concerns over the market value of its ETH holdings and overall financial health.
- Operational and Financial Status: Despite facing massive losses, BitMine has no plans to liquidate its assets, holding approximately $600 million in cash with an annual yield of about 4%, and generating around $1 million in net income daily, showcasing its financial resilience in adversity.
- Ethereum Network Activity Growth: Despite the drop in ETH prices, Tom Lee highlighted a 117% year-over-year increase in active Ethereum addresses and an 80% rise in network usage over the past six months, suggesting that robust underlying network activity may lay the groundwork for future market recovery.
See More
Pilgrim Partners Asia Sells $16.21M in iShares Ethereum Trust ETF
- Transaction Overview: Pilgrim Partners Asia disclosed in a February 2 SEC filing that it sold 620,000 shares of the iShares Ethereum Trust ETF during Q4, amounting to an estimated $16.21 million, reflecting a cautious stance towards the Ethereum market.
- Value Decline: The sale resulted in a $19.63 million drop in the quarter-end value of its ETHA position, highlighting the direct impact of market volatility on its investment portfolio, with ETHA now representing only 0.11% of reportable AUM.
- Market Performance Comparison: As of February 2, ETHA shares were priced at $17.50, down 14.8% over the past year, significantly underperforming the S&P 500's approximately 15% gain, indicating poor performance of the ETF in the market.
- Investment Strategy Analysis: This sale is viewed as a risk management measure rather than a rejection of digital assets, as Pilgrim Partners continues to hold other high-volatility assets, demonstrating their investment discipline in liquidity and risk management.
See More
