Grayscale Ethereum Trust (ETH)

Grayscale's ether vehicle spent years as a closed-end trust before becoming a full ETF. Launched as a private trust in 2017, it let investors hold ether through a traded security, but with no way to create or redeem shares it swung to steep premiums and later deep discounts against the value of its coins. When the SEC approved spot ether ETFs in July 2024, Grayscale converted ETHE to an exchange-traded fund on NYSE Arca, which finally tied its price closely to the ether it holds. It carries a much higher fee than the newer competitors, a legacy of its first-mover position, and Grayscale bled assets to cheaper rivals after the conversion. The fund holds ether directly through a custodian. Investors use it for regulated exposure to the second-largest cryptocurrency, though many have shifted to lower-cost alternatives, including Grayscale's own mini version.

On MyRWA, ETHE trades tokenized across 1 on-chain venue - see the listings below.