For investors bullish on the cryptocurrency ether, the cryptocurrency of the Ethereum network, the iShares Ethereum Trust ETF (ETHA) provides a way to gain exposure to the second-largest cryptocurrency by market capitalisation. Managed by BlackRock, this ETF provides a more accessible, regulated, and secure method to invest in Ethereum without needing to directly purchase, store, or manage digital assets.
iShares Ethereum Trust ETF (ETHA) Price and Chart
Ethereum is recognised for its smart contract functionality. Furthermore, developers can utilise Ethereum to run decentralised applications (dApps) and offer new crypto assets.
The iShares Ethereum Trust ETF was launched in June 2024 and trades under the ticker ETHA. As of early 2025, the ETF's net assets of fund (total assets of a fund minus its liabilities) were approximately $3.6 billion.
iShares Ethereum Trust ETF (ETHA)Performance
The iShares Ethereum Trust ETF's performance directly correlates with the price of Ethereum, which has historically been highly volatile but has also delivered significant returns over the years.
| Year | Performance |
|---|---|
| 2024 (YTD as of December 20) | -1.88% |
| 2023 | – |
| 2022 | – |
| 2021 | – |
| 2020 | – |
Ethereum Forecast
Bull Argument: In November, Standard Chartered head of research, Geoffrey Kendrick, said, “the Trump-ublican sweep means Digital Assets are finally going to come of age,” and that he looks for the entire crypto asset class to “4X by the time of the US mid-terms in late 2026.” Kendrick and Standard Chartered sees Ethereum reaching $10,000 by the end of 2025, noting potential regulatory changes once the new administration takes office in the US.
They also expect the SEC to have a softer regulatory stance on digital assets, which the firm expects will further open pathways for mainstream use.
Elsewhere, according to data gathered by CoinGecko, analysts expect the Ethereum price to be between $4,000 and $7,528 by 2025. The forecasts, which were made in 2024, show that the consensus expectation for Ethereum is around $6,404 by the end of 2024 or early 2025.
Bear Argument: Given the recent run in cryptocurrencies over recent weeks, bearish analysts are difficult to find. However, bearish investors may point to aspects such as the high volatility, as Ethereum, like other crypt assets, is notoriously volatile, posing risks for risk-averse investors. Furthermore, regulatory uncertainty may also be a concern, although Standard Chartered, as you can see above, expects that to ease in the US when the new Trump administration is in place.
Other factors that bearish investors may look to include competition, with competing blockchains like Solana, Cardano, and Avalanche continuing to innovate, threatening Ethereum’s market dominance, while macro pressures may also impact the Ethereum price.
Our View:
The iShares Ethereum Trust ETF simplifies access to Ethereum for mainstream investors with a bullish stance on the crypto. As ETFs are regulated investments, ETHA addresses many of the concerns around direct cryptocurrency ownership, such as custody and security risks.
However, as with any type of investment, it is essential for investors to recognise the inherent risks, especially when it comes to crypto volatility and the uncertain regulatory environment. For those bullish on the future of crypto and Ethereum’s role in DeFi, this ETF represents a potentially solid investment option.
Who Should Buy the iShares Ethereum Trust ETF?
Clearly, the IEFA ETF is well-suited for investors seeking geographic diversification, given that it provides exposure to markets outside North America, offering a balanced portfolio of companies across Europe, Australasia, and the Far East.
Furthermore, long-term investors looking for steady growth will note that developed markets tend to offer stability compared to emerging markets, making IEFA a viable option for patient investors.
With generally lower valuations than in the US, cost-conscious investors may want to look at other equity markets. In addition, the ETF has a low expense ratio, making it a potentially more affordable choice for broad international exposure.
However, IEFA may not be suitable for investors averse to currency risks as returns can be impacted by fluctuations in local currencies against the US dollar. Meanwhile, those prioritising high-growth opportunities may find more attractive options elsewhere as the IEFA focuses on developed markets outside of the US, which typically offers slower growth.
