CoinShares vs iShares ETFs: Performance and Risk Comparison
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 25 2026
0mins
Should l Buy ETHA?
Source: Fool
- Expense Ratio Difference: iShares Ethereum Trust ETF (ETHA) has an expense ratio of 0.25%, while CoinShares Bitcoin Mining ETF (WGMI) stands at 0.75%; despite the higher cost, WGMI's one-year return of 92.48% indicates stronger profitability.
- Portfolio Composition: WGMI currently invests in 25 companies primarily in the technology sector, with top holdings including IREN Ltd. and Cipher Mining, reflecting a diversified investment strategy in Bitcoin mining and related infrastructure.
- Risk and Return Comparison: ETHA's maximum drawdown is 58.52%, compared to WGMI's 56.18%; while both face high volatility, WGMI's growth of $1,948 over the past year outperforms ETHA's $939, demonstrating relative stability.
- Market Outlook and Transition: WGMI is gradually transitioning as many mining companies shift towards high-performance computing and AI data center operations, a strategic adjustment that may influence its future investment direction while still providing investors with indirect exposure to cryptocurrencies.
Discover Tomorrow's Bullish Stocks Today
Analyst Views on ETHA
Wall Street analysts forecast ETHA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ETHA is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 20.170
Low
Averages
High
Current: 20.170
Low
Averages
High
No data
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.
CLARITY Act May De-Risk Ethereum Exposure for Institutions
- Legislative Impact: Analysts believe the CLARITY Act could serve as a 'de-risking' stimulus for Ethereum, significantly impacting BitMine Immersion (BMNR), which holds approximately 4.24 million ETH valued at $12.37 billion, potentially improving market sentiment.
- Asset Value Discount: With a market capitalization of $10.68 billion, BMNR shows a discount to its asset value, which may narrow if regulatory clarity improves, thereby enhancing investor confidence and driving stock price increases.
- Institutional Participation Barriers: Many institutional investors are still prohibited from directly holding crypto tokens but can purchase publicly traded shares, positioning BMNR as a proxy for Ethereum that may attract more institutional investment.
- Risk Warnings: Despite market optimism regarding the CLARITY Act, analysts caution that if the legislation is watered down or delayed, it could negatively impact BMNR's stock price, leading to decreased investor confidence.
See More
Comparison of Fidelity and iShares Crypto Funds
- Identical Fee Structure: Both Fidelity Wise Origin Bitcoin Fund (FBTC) and iShares Ethereum Trust ETF (ETHA) offer investment opportunities in single crypto assets at a 0.25% expense ratio, providing no clear cost advantage for investors.
- Return and Risk Discrepancies: As of January 23, 2026, FBTC reported a one-year return of -13.70% compared to ETHA's -9.72%, with FBTC experiencing a maximum drawdown of 32.64%, indicating higher risk during market volatility.
- Asset Allocation Characteristics: FBTC is nearly entirely invested in Bitcoin (99.98%), while ETHA is 100% allocated to Ethereum, making FBTC more sensitive to Bitcoin price movements, appealing to investors seeking direct Bitcoin exposure.
- Market Behavior Impact: While both funds provide single-asset crypto exposure, FBTC is directly tied to Bitcoin prices, whereas ETHA is influenced by Ethereum network activity, requiring investors to choose based on their risk tolerance.
See More
CoinShares vs iShares ETFs: Performance and Risk Comparison
- Expense Ratio Difference: iShares Ethereum Trust ETF (ETHA) has an expense ratio of 0.25%, while CoinShares Bitcoin Mining ETF (WGMI) stands at 0.75%; despite the higher cost, WGMI's one-year return of 92.48% indicates stronger profitability.
- Portfolio Composition: WGMI currently invests in 25 companies primarily in the technology sector, with top holdings including IREN Ltd. and Cipher Mining, reflecting a diversified investment strategy in Bitcoin mining and related infrastructure.
- Risk and Return Comparison: ETHA's maximum drawdown is 58.52%, compared to WGMI's 56.18%; while both face high volatility, WGMI's growth of $1,948 over the past year outperforms ETHA's $939, demonstrating relative stability.
- Market Outlook and Transition: WGMI is gradually transitioning as many mining companies shift towards high-performance computing and AI data center operations, a strategic adjustment that may influence its future investment direction while still providing investors with indirect exposure to cryptocurrencies.
See More
iShares vs Bitwise ETFs: Significant Differences in Costs and Returns
- 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.
See More
Ethereum Co-founder Warns of Decentralized Stablecoin Design Flaws
- Design Flaw Warning: Ethereum co-founder Vitalik Buterin highlighted fundamental design flaws in decentralized stablecoins, which could lead to long-term risks and structural weaknesses, undermining user trust and market stability.
- Governance Risk Analysis: Buterin cautioned that financialized governance systems lack defensive asymmetry, potentially incentivizing protocols to engage in high-value extraction for self-protection, which he described as “quite bad for users.”
- Yield Issues: He noted that staking-based stablecoins face low yield rates, with users stuck on “a few percent APY suboptimal return rates” without structural changes, limiting investment appeal.
- Macro Risk Focus: Buterin emphasized the industry's over-reliance on USD tracking and lack of resilience to long-term macro risks, calling for more fundamental architectural innovations to enhance stablecoins' independence and risk mitigation capabilities.
See More
Ethereum Gains Morgan Stanley Support as ETF Filing Sparks Interest
- Institutional Endorsement: Morgan Stanley's filing for a spot Ethereum ETF signifies strong institutional validation for Ethereum, potentially driving future investment inflows and solidifying its position in the financial sector.
- Market Dynamics: Despite the backing, the iShares Ethereum Trust ETF is nearing a death cross, indicating waning short-term demand which could undermine investor confidence in Ethereum's momentum.
- Long-Term Outlook: FundStrat's analysts project that by 2026, Ethereum will outperform Bitcoin in the realms of tokenization and stablecoins, highlighting its potential and application value in the future of finance.
- Risks and Opportunities: While Ethereum enjoys institutional support, market reactions to price movements remain dominant, and short-term price fluctuations could significantly influence investor decisions and market sentiment.
See More
CLARITY Act May De-Risk Ethereum Exposure for Institutions
- Legislative Impact: Analysts believe the CLARITY Act could serve as a 'de-risking' stimulus for Ethereum, significantly impacting BitMine Immersion (BMNR), which holds approximately 4.24 million ETH valued at $12.37 billion, potentially improving market sentiment.
- Asset Value Discount: With a market capitalization of $10.68 billion, BMNR shows a discount to its asset value, which may narrow if regulatory clarity improves, thereby enhancing investor confidence and driving stock price increases.
- Institutional Participation Barriers: Many institutional investors are still prohibited from directly holding crypto tokens but can purchase publicly traded shares, positioning BMNR as a proxy for Ethereum that may attract more institutional investment.
- Risk Warnings: Despite market optimism regarding the CLARITY Act, analysts caution that if the legislation is watered down or delayed, it could negatively impact BMNR's stock price, leading to decreased investor confidence.
See More
Comparison of Fidelity and iShares Crypto Funds
- Identical Fee Structure: Both Fidelity Wise Origin Bitcoin Fund (FBTC) and iShares Ethereum Trust ETF (ETHA) offer investment opportunities in single crypto assets at a 0.25% expense ratio, providing no clear cost advantage for investors.
- Return and Risk Discrepancies: As of January 23, 2026, FBTC reported a one-year return of -13.70% compared to ETHA's -9.72%, with FBTC experiencing a maximum drawdown of 32.64%, indicating higher risk during market volatility.
- Asset Allocation Characteristics: FBTC is nearly entirely invested in Bitcoin (99.98%), while ETHA is 100% allocated to Ethereum, making FBTC more sensitive to Bitcoin price movements, appealing to investors seeking direct Bitcoin exposure.
- Market Behavior Impact: While both funds provide single-asset crypto exposure, FBTC is directly tied to Bitcoin prices, whereas ETHA is influenced by Ethereum network activity, requiring investors to choose based on their risk tolerance.
See More
CoinShares vs iShares ETFs: Performance and Risk Comparison
- Expense Ratio Difference: iShares Ethereum Trust ETF (ETHA) has an expense ratio of 0.25%, while CoinShares Bitcoin Mining ETF (WGMI) stands at 0.75%; despite the higher cost, WGMI's one-year return of 92.48% indicates stronger profitability.
- Portfolio Composition: WGMI currently invests in 25 companies primarily in the technology sector, with top holdings including IREN Ltd. and Cipher Mining, reflecting a diversified investment strategy in Bitcoin mining and related infrastructure.
- Risk and Return Comparison: ETHA's maximum drawdown is 58.52%, compared to WGMI's 56.18%; while both face high volatility, WGMI's growth of $1,948 over the past year outperforms ETHA's $939, demonstrating relative stability.
- Market Outlook and Transition: WGMI is gradually transitioning as many mining companies shift towards high-performance computing and AI data center operations, a strategic adjustment that may influence its future investment direction while still providing investors with indirect exposure to cryptocurrencies.
See More
iShares vs Bitwise ETFs: Significant Differences in Costs and Returns
- 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.
See More
Ethereum Co-founder Warns of Decentralized Stablecoin Design Flaws
- Design Flaw Warning: Ethereum co-founder Vitalik Buterin highlighted fundamental design flaws in decentralized stablecoins, which could lead to long-term risks and structural weaknesses, undermining user trust and market stability.
- Governance Risk Analysis: Buterin cautioned that financialized governance systems lack defensive asymmetry, potentially incentivizing protocols to engage in high-value extraction for self-protection, which he described as “quite bad for users.”
- Yield Issues: He noted that staking-based stablecoins face low yield rates, with users stuck on “a few percent APY suboptimal return rates” without structural changes, limiting investment appeal.
- Macro Risk Focus: Buterin emphasized the industry's over-reliance on USD tracking and lack of resilience to long-term macro risks, calling for more fundamental architectural innovations to enhance stablecoins' independence and risk mitigation capabilities.
See More
Ethereum Gains Morgan Stanley Support as ETF Filing Sparks Interest
- Institutional Endorsement: Morgan Stanley's filing for a spot Ethereum ETF signifies strong institutional validation for Ethereum, potentially driving future investment inflows and solidifying its position in the financial sector.
- Market Dynamics: Despite the backing, the iShares Ethereum Trust ETF is nearing a death cross, indicating waning short-term demand which could undermine investor confidence in Ethereum's momentum.
- Long-Term Outlook: FundStrat's analysts project that by 2026, Ethereum will outperform Bitcoin in the realms of tokenization and stablecoins, highlighting its potential and application value in the future of finance.
- Risks and Opportunities: While Ethereum enjoys institutional support, market reactions to price movements remain dominant, and short-term price fluctuations could significantly influence investor decisions and market sentiment.
See More
