ETHE ETF — Grayscale Ethereum Trust ETF

Grayscale Ethereum Trust ETF (ETHE)

ETHE is an ETF linked to Ethereum (ETH). As of September 4, 2026, its distribution rate is 1.57%, its trailing-12-month yield is 1.35%, its expense ratio is 2.50%. Dividend Vision Distribution Safety Score™ is 47/100 (Caution). Total return is 245.8% over the past 7.2 years, 48.3 points ahead of SPY at 197.5%.

At the current 1.57% distribution rate, a $10,000 investment would generate approximately $157 per year, or $13.08 per month on an equivalent basis.

Grayscale Ethereum Trust ETF is a fund that provides exposure to the price of ether (ETH), the cryptocurrency underlying the Ethereum blockchain, through a spot-based structure that holds ether directly. The fund distributes monthly and carries a moderate current distribution rate along with a 2.50% expense ratio. It appeals to investors seeking convenient cryptocurrency exposure within a traditional fund wrapper, rather than holding ether directly.

ETHE performance versus SPY

Data as of September 4, 2026.

Total return is 245.8% over the past 7.2 years, 48.3 points ahead of SPY at 197.5%. Its deepest 1-year drawdown was 67.3%.

ETHE key facts

Data as of September 4, 2026.

Distribution Safety Score™

47 · Caution

Safety-Adjusted Yield

0.74%

Issuer

Grayscale Investments

Asset type

ETF

Asset class

Crypto

Inception date

12/14/2017

Expense ratio

2.50%

Distribution rate

1.57%

Distribution frequency

Monthly

Trailing yield

1.35%

Last close

$19.76

NAV

$19.26

Premium / discount

2.60% premium

AUM

$1,841,616,957

Average volume

2103462.0

Next dividend

$0.0259

Last ex-dividend date

09/03/2026

Next payment date

09/04/2026

Beta

3.0387

How Dividend Vision calculates yield and returns

Distribution rate (1.57%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (1.35%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss. Figures below use Dividend Vision data as of September 4, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of September 4, 2026.

Primary sources: Grayscale Investments or company page; Index: Ethereum (ETH); prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

ETHE risks and drawbacks

ETHE's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. The deepest 1-year drawdown on record here is 67.3%.

Who may consider ETHE — and who may not

It is a weaker fit for investors hunting double-digit covered-call yields. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from Grayscale Investments.