ETHA Grows Larger Than HODL With Higher Recent Returns

The article compares iShares Ethereum Trust (ETHA) and VanEck’s bitcoin ETF (HODL), finding ETHA materially outperformed HODL over the trailing 12 months (ETHA +28.16% vs HODL −18.6%) but also suffered a larger 1-year max drawdown (64.02% vs 49.25%). ETHA is significantly larger ($7.4B AUM) and charges a slightly higher expense ratio (0.25% vs 0.20%). The piece argues investors should pick exposure based on the underlying crypto thesis (Ether utility vs Bitcoin digital-gold) rather than treating ETFs as interchangeable, since recent returns, volatility, and scale differ materially and affect portfolio outcomes.