WETP/ETHWWisdomTree Physical Ethereum
ISIN: GB00BJYDH3940.35%
Management Fee (MER)
As of 03/07/2026
27 April 2021
Inception Date
US$148,764,678
Fund AUM
As of 03/07/2026
USD
Base currency
Overview
Product Description
WisdomTree Physical Ethereum is a physically backed Exchange Traded Product (ETP) designed to offer shareholders a simple, secure and cost-efficient way to gain exposure to the price of Ethereum. The ETP also generates a staking yield based on the portion of the assets staked which helps to participate and secure the Ethereum network. The ETP provides for easy investor access, tradability, transparency and institutional custody solutions within a robust physically backed structure.
Why WETP/ETHW?
- Physically backed by Ethereum.
- The ETP generates a staking yield based on the portion of the assets staked which helps to participate and secure the Ethereum network.
- Each share has a corresponding Ethereum entitlement professionally secured in "cold storage".
- WisdomTree is a world leader at securing physical metals underlying ETPs and have used the same structure to protect ETP holdings.
- Institutional cryptocurrency custody solutions which are continuously evaluated and monitored by WisdomTree.
- ETP structure fits seamlessly within current portfolio management structures
Potential Risks
- An investment in an ETP involves a degree of risk. Any decision to invest should be based on the information contained in the relevant prospectus. Prospective investors should obtain independent accounting, tax and legal advice and should consult their professional advisers to ascertain the suitability of this ETP as an investment to their own circumstances.
- This ETP is structured as a debt security and not as shares (equity) and can be created and redeemed on demand by authorised participants and traded on exchange just like shares in a company. This ETP is not a UCITS product.
- Market Risk: The price of Ethereum may fluctuate and may be affected by numerous factors including supply and demand, the global financial markets and other political, financial or economic events. The value of securities in this ETP is directly affected by increases and decreases in the value of Ethereum. Accordingly, the value of a security may go up or down and a security holder may lose some or all of the amount invested but can not lose more than the amount invested.
- Digital Asset Exchange Risk: To the extent that a relevant stock exchange, where the ETP securities are listed, is closed while the markets for Ethereum remain open, significant price movements may take place. This may limit an investor's ability to react to price movements or volatility in the value of Ethereum until such relevant stock exchange is open for trading.
- Staking Risk: Proof-of-stake blockchain may have a reward and penalty mechanisms. The penalties are designed to incentivise validator responsibility and network collaboration. Where penalties are applied, this would cause a reduction in the Coin Entitlement. Staking features are not fixed over the time and may cause some liquidity risk or delay the standard settlement period.
- Technical Risk: Digital asset networks are a relatively new asset class where the underlying technology is under active development. This can lead to technical failures, network outages or cybersecurity incidents that may subsequently affect the price of Ethereum and/or lead to unavailability of the network for transactions.
- Liquidity risk: There can be no certainty that securities can always be bought or sold on a stock exchange or that the market price at which the securities may be traded on a stock exchange will always accurately reflect the price of Ethereum.
- Currency Risk: The price of Ethereum is generally quoted in US Dollars. To the extent that a security holder values their holdings in another currency, the value will be affected by changes in the exchange rate.
- Custodian Risk: There is a risk that any Ethereum held by the custodian may be lost, stolen or damaged and the Issuer may not be able to satisfy its obligations in respect of the securities in the event that the custodian's insurance is insufficient to cover such liabilities.
- Please see the risks factors section of the Prospectus for a more detailed discussion of the potential risks
Articles and Research Papers
Dovile Silenskyte
Successful blockchains resemble thriving islands
Successful blockchains are built on thriving ecosystems, not technology alone. Using the analogy of prosperous islands, this article explores how developer activity, liquidity, user engagement and interoperability create lasting network effects, and why investors should focus on ecosystem health and connectivity when evaluating the next generation of blockchain winners.
- Cryptocurrency and Blockchain
Tobias Lazar
Diversification is the only free lunch, even in crypto
Diversification matters in crypto just as much as in traditional investing. While predicting the next winning token is difficult, a diversified crypto basket can help investors participate in the broader growth of blockchain networks and decentralised finance while reducing exposure to the risks of individual coins.
- Cryptocurrency and Blockchain
Dovile Silenskyte
Solana’s advantage: institutional liquidity with structural volatility
Solana is emerging as crypto’s institutional middle ground: liquid enough for large-scale participation, yet still volatile enough to create meaningful trading opportunities. As bitcoin matures into a macro asset, Solana increasingly offers the combination of liquidity, reflexivity and market activity that active investors seek.
- Cryptocurrency and Blockchain
Dovile Silenskyte
Price is not enough: the hidden driver of crypto returns
Most crypto investors may be measuring returns too narrowly. Price is no longer the only driver. Yield is becoming increasingly important. Staking now sits closer to the core of performance, and overlooking it can lead to structural underperformance. As crypto evolves towards a total return framework, the real edge lies in execution: how effectively you capture yield, not just what you hold.
- Cryptocurrency and Blockchain
Fund Overview
| Product Overview | As of 03/07/2026 |
|---|---|
| Base Currency | USD |
| Coin Lending | No |
| Index Bloomberg Ticker | CETHRVLN |
| Index Name | CoinDesk Ethereum Benchmark London Settlement Rate |
| ISIN | GB00BJYDH394 |
| Physical Redemption | Yes Click here for details |
| Staking Enabled | Yes |
| Net Asset Value | As of 03/07/2026 |
|---|---|
| NAV | US$17.134 |
| Daily Change | US$0.286 |
| Daily return | 1.697% |
| Total AUM of fund | US$148,764,678 |
| Issuer AUM | US$1,548,709,861 |
| Investor Entitlement | ETH 85446.27932 |
| Coin Entitlement | ETH 0.00988 |
| Shares Outstanding | 8,648,528 |
Structure
| Structure | As of 03/07/2026 |
|---|---|
| Domicile | Jersey |
| Replication method | Physical - backed by Ether |
| Legal form | Debt security |
| Legal structure | ETC |
| Further Legal and Tax Information | As of 03/07/2026 |
|---|---|
| ISA | Eligible |
| SIPP | Eligible |
| UCITS Eligible | Please refer to footnote 1 |
| UK Reporting Status | Yes |
Key Service Providers
| Key Service Providers | As of 03/07/2026 |
|---|---|
| Custodian | Swissquote Bank Ltd, Coinbase Custody Trust Company, LLC, BitGo Trust Company, Inc. |
| Administrator | JTC Fund Solutions (Jersey) Limited |
| Trustee | The Law Debenture Trust Corporation p.l.c. |
| Auditor | EY Jersey |
| Issuer | WisdomTree Issuer X limited |
| Registrar | Computershare Investor Services (Jersey) Ltd |
| Fees | As of 03/07/2026 |
|---|---|
| Management Fee (MER) | 0.35% |
| Product Return Generated by Staking (%) | |
|---|---|
| Rolling 1Y (Annualised) | 0.97% |
| Rolling 3M (Annualised) | 0.92% |
| Last Calendar Year (Annualised) | 1.13% |
| Last Calendar Quarter (Annualised) | 0.77% |
| Since Inception (Annualised) | 0.42% |
Share of Staking reward passed onto investors 75% (target)
Passported Countries
Listings & Codes
| Country | Exchange | Trading Currency | Exchange Ticker | Bloomberg Ticker | RIC | SEDOL | ISIN | WKN | Listing Date |
|---|---|---|---|---|---|---|---|---|---|
| LSE | USD | ETHW | ETHW LN | ETHW.L | BMG9CV9 | GB00BJYDH394 | A3GQ45 | 28/05/2024 | |
| LSE | GBx | WETP | WETP LN | WETP.L | BSH01Q1 | GB00BJYDH394 | A3GQ45 | 28/05/2024 | |
| Borsa Italiana | EUR | WETH | WETH IM | WETH.MI | BVVK834 | GB00BJYDH394 | A3GQ45 | 09/02/2026 | |
| Xetra | EUR | WETH | WETH GY | WETH.DE | BNXHJ78 | GB00BJYDH394 | A3GQ45 | 29/04/2021 | |
| Euronext (FR) | USD | ETHW | ETHW NA | ETHW.AS | BN6SR41 | GB00BJYDH394 | A3GQ45 | 01/06/2021 | |
| Euronext (FR) | EUR | WETH | WETH FP | ETHW.PA | BN6SR30 | GB00BJYDH394 | A3GQ45 | 01/06/2021 | |
| SIX | USD | ETHW | ETHW SW | ETHW.S | BJYDH39 | GB00BJYDH394 | A3GQ45 | 29/04/2021 | |
| SIX | EUR | ETHW | ETHWEUR SW | ETHWEUR.S | BJ06BX0 | GB00BJYDH394 | A3GQ45 | 29/04/2021 | |
| SIX | CHF | ETHW | ETHWCHF SW | ETHWCHF.S | BMZQ255 | GB00BJYDH394 | A3GQ45 | 24/03/2022 |
Please note that the Borsa Italiana listings are only available for professional investors.
Underlying Holdings
Index Reference | |
|---|---|
| Index Reference Name | CoinDesk Ethereum Benchmark London Settlement Rate |
| Index Reference Provider | CoinDesk |
| Currency | USD |
| Bloomberg Ticker | H394$ASPLX |
| Index Reference Website | |
| Security | 3 July 2026 |
|---|---|
| 1. Ether (ETH) | 100.00% |
Documents
Product
KID
Prospectus
Reports and Regulatory
1 Currently there are no definitive regulatory policies available to determine eligibility for UCITS investment. WisdomTree has completed an analysis applying the framework for UCITS eligibility to Exchange Traded Notes with cryptoassets as the underlying asset. If you would like to find out the details from this analysis, please contact us.
DISCLAIMERS
The products discussed in this document are issued by WisdomTree Issuer X Limited (the “Issuer”). Investors should read the prospectus of the Issuer before investing and should refer to the section of the prospectus entitled “Risk Factors” for further details of risks associated with an investment in the securities offered by the Issuer.
Securities issued by the Issuer are direct, limited recourse obligations of the Issuer alone and are not obligations of or guaranteed by any of Swissquote Bank Ltd (“Swissquote”), Coinbase Custody Trust Company LLC (“Coinbase”), BitGo Trust Company, Inc (“BitGo”) any of their affiliates or anyone else or any of their affiliates. Each of Swissquote, Coinbase and BitGo disclaims all and any liability whether arising in tort, contract or otherwise which it might have in respect of this document or its contents otherwise arising in connection herewith.
The product discussed in this document is an unregulated ETP, approved to trade on certain regulated exchanges within Europe and the UK. Cryptocurrencies are a high-risk investment and may not be suitable for all types of investors. Prospective investors should be aware that the price of the underlying asset(s) by which the securities are secured can demonstrate higher volatility than other asset classes and consequently the value of the securities may be extremely volatile. You must ensure that the nature, complexity and risks associated with cryptocurrencies are suitable for your objectives in light of your circumstances and financial position.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
The digital assets underlying WisdomTree’s exchange traded products are held using secure, institutional-grade custody solutions that prevent unauthorised access or movement. Digital assets are primarily stored offline in cold wallets and their transfer requires authorisation from multiple independent parties with a redundancy of locations, communication methods and authentication devices.
Our operational processes are regularly updated to protect against evolving threats and are kept confidential for security reasons.
COINDESK® and CoinDesk Ethereum Benchmark London Settlement Rate (the “Index”) are trade or service marks of CoinDesk Indices, Inc. (“CDI”), the administrator of the Index, and/or its licensors. CDI or CDI's licensors own all proprietary rights in the Index.
CDI is not affiliated with WisdomTree Issuer X Limited (the “Issuer”) and does not approve, endorse, review, or recommend WisdomTree Physical Ethereum (the “Product”). CDI does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Index and shall not be liable in any way to the Issuer, investors in or holders of the Product or other third parties in respect of the use or accuracy of the Index or any data included therein.