Bitwise Ethereum ETF (ETHW) provides investors with direct exposure to the price performance of ether (ETH), the native cryptocurrency of the Ethereum blockchain and the world's second-largest crypto asset by market capitalization, through shares traded on the NYSE Arca exchange. The ETF, which is passively managed by Bitwise Investment Advisers, LLC and launched on July 22, 2024, holds physical ether in cold storage custody provided by Coinbase Custody Trust Company, LLC; employs Bank of New York Mellon as administrator; utilizes KPMG as auditor; and tracks the CME CF Ether-Dollar Reference Rate - New York Variant benchmark. ETHW features a low 0.20% management fee, waived to 0% for the first six months on the initial $500 million in assets, with public disclosure of its Ethereum wallet addresses for transparency; additionally, Bitwise donates 10% of the fund's profits to Ethereum open-source developers via Protocol Guild and PBS Foundation.
Bitwise Asset Management, headquartered in San Francisco, California with additional offices in New York and London, founded the ETF as part of its broader suite of over 20 cryptocurrency-focused products including the world's largest crypto index fund, spot Bitcoin ETFs, DeFi strategies, and separately managed accounts targeting financial advisors, family offices, and institutional investors primarily in the U.S. and Europe.
In recent developments, Bitwise expanded internationally by acquiring London-based ETC Group in August 2024, adding nine physically backed European-listed ETPs covering Bitcoin, Ethereum staking, Solana, XRP, and others to its portfolio and boosting total assets under management above $5 billion; the firm also acquired Ethereum staking provider Attestant Limited in 2025, enhancing its staking capabilities amid ETHW's growth to over $380 million in assets as of late 2025.