For those looking to invest in ETH ETFs, here’s some in-depth research

TL;DR: ETHA (BlackRock ETH ETF) is the best one to invest in

Canadians have a TFSA (Tax-Free Savings Account) where realized gains are untaxed. I wanted to take advantage of these tax-free gains. In the US, there are also Roth-IRA's that function similarly.

I've searched on Reddit and other places to figure out which ETF to invest in, as there are multiple options. I saw ETHE, ETHA, ETH (which is Mini Ethe or Grayscale Ethereum Mini), etc.. and couldn't find a straight answer.

I decided to use ChatGPT 4.5 + In-Depth Research mode to figure this out for me.

Here are the results:

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Best Ethereum ETF for $100K Investment with 4x Upside Exit Strategy

**Context:** I wanted to invest $100,000 into an Ethereum ETF and potentially sell at $400,000 if ETH 4x’s. I compared tracking accuracy, liquidity, spreads, and exit feasibility across the major Ethereum ETFs and trusts.

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ETFs/Trusts Considered:

• CI Galaxy Ethereum ETF (**ETHX.B.TO**)
• Purpose Ether ETF (**ETHH.TO**)
• Fidelity Ethereum ETF (**FETH**)
• iShares Ethereum Trust (**ETHA**)
• Grayscale Ethereum Trust (**ETHE**)
• Grayscale Ethereum Mini Trust (**ETH**)

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1. Price Tracking Accuracy:

• All six funds have ~0.98–0.99 correlation with ETH.
• Best tracking: FETH, ETHA, ETHX.B.TO, ETHH.TO (spot-backed ETFs)
• Moderate tracking: ETH (Mini), ETHE (Trust structure causes occasional NAV discounts)

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2. Liquidity (Average Daily Volume & Spread):

| ETF/Trust | Avg Volume (USD/day) | Spread | Notes |

| ————- | ——————– | ——- | ———————————— |

| **ETHA** | ~$190M | ~0.08% | Deep order book, BlackRock product |

| **ETHE** | ~$80M | ~0.07% | High liquidity, trust structure risk |

| **ETH** | ~$25–30M | ~0.06% | Tightest spread, lower volume |

| **FETH** | ~$30–35M | ~0.08% | Strong volume, stable execution |

| **ETHX.B.TO** | ~$2–3M | ~1% | CAD-based, modest volume |

| **ETHH.TO** | ~$0.7M | ~2.5% | Thin liquidity, wide spread |

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3. My Main Question:

If I invest $100K and ETH 4x’s, which ETF lets me sell $400K **with the least slippage and best execution**?

Answer:

• Despite ETH (Grayscale Mini) having the tightest **spread** (0.06%), **ETHA** (iShares) wins overall.
• ETHA has ~7x more volume than ETH and much deeper order books.
• Selling $400K of ETHA is **much safer and scalable**.

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4. Spread Cost Difference (Theoretical):

| ETF | Spread | Cost to Sell $400K |

| —- | —— | ——————- |

| ETH | 0.06% | $240 |

| ETHA | 0.08% | $320 |

Difference = $80 more for ETHA, which is negligible compared to its execution advantages.

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Final Conclusion:

• Best ETF for a $100K+ investment with large exit plans: [ETHA] iShares Ethereum Trust
• Tracks ETH closely, very high liquidity, minimal execution risk
• ETH (Mini) is a strong second if you're trading smaller amounts
• Avoid ETHE and the Canadian ones (ETHH, ETHX.B) if you plan to exit $400K quickly and cleanly

Hope this helps anyone else wondering the same!