Comparison of VanEck and iShares Crypto ETFs
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy ETHA?
Source: Fool
- 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.
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Analyst Views on ETHA
Wall Street analysts forecast ETHA stock price to rise
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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
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
Apeiron Capital Fully Exits iShares Ethereum Trust ETF
- Exit Transaction: Apeiron Capital disclosed in a SEC filing that it sold all 285,400 shares of the iShares Ethereum Trust ETF in the fourth quarter of 2025 for approximately $8.99 million, indicating a cautious stance towards the crypto market.
- Position Change: Following this transaction, Apeiron's stake in the Ethereum ETF has been reduced to zero, reflecting a waning confidence in crypto assets, particularly as Ethereum's price has dropped over 30% in the past year.
- Portfolio Restructuring: The remaining investments of Apeiron Capital are concentrated in operating businesses such as On Holding and Summit Therapeutics, suggesting a strategic shift towards investments that prioritize fundamentals over market sentiment.
- Market Environment Impact: The net asset value of the Ethereum ETF fell by over 11% in 2025, and recent market volatility has led to a decreased risk appetite among investors for crypto assets, further influencing Apeiron's investment decisions.
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
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
Apeiron Capital Fully Exits iShares Ethereum Trust ETF
- Exit Transaction: Apeiron Capital disclosed in a SEC filing that it sold all 285,400 shares of the iShares Ethereum Trust ETF in the fourth quarter of 2025 for approximately $8.99 million, indicating a cautious stance towards the crypto market.
- Position Change: Following this transaction, Apeiron's stake in the Ethereum ETF has been reduced to zero, reflecting a waning confidence in crypto assets, particularly as Ethereum's price has dropped over 30% in the past year.
- Portfolio Restructuring: The remaining investments of Apeiron Capital are concentrated in operating businesses such as On Holding and Summit Therapeutics, suggesting a strategic shift towards investments that prioritize fundamentals over market sentiment.
- Market Environment Impact: The net asset value of the Ethereum ETF fell by over 11% in 2025, and recent market volatility has led to a decreased risk appetite among investors for crypto assets, further influencing Apeiron's investment decisions.
See More
