Ethereum ETF Cost Basis
What did the Ethereum funds pay for their coins?
The average price the funds paid for the Ethereum they hold, set against Ethereum's price.
What the funds paid, and Ethereum's price
The average price the funds paid for the Ethereum they still hold, beside Ethereum's own price. The price line is worked out each day from the buy price and the Worth vs. paid figure, so it can sit a little off a price quoted elsewhere. Estimates. No fund publishes what it paid. This is worked out from the money going in and the price on the day it arrived, so treat it as close rather than exact.
Inspect and compare dates
Pick two dates to compare what the funds had paid for Ethereum with Ethereum's price on each.
| Measure | Change | Relative change | ||
|---|---|---|---|---|
| Average buy price | $2,998.00 | $2,913.00 | −$85.00 | −2.8% |
| Ethereum price | $2,516.00 | $2,684.00 | +$168.00 | +6.7% |
Right now
On average the funds paid about $2,932 a coin for the Ethereum they hold. At $2,753, Ethereum is about 6.1% below that.
How many of their coins are in profit?
As of Sep 22, 2026.
Coins in profit
Of the Ethereum the funds hold, the share worth more today than it cost.
Funds in profit
Funds whose coins are worth more, all together, than they paid.
52% of the Ethereum in the funds is worth more today than it cost. 5 of the 11 funds we can price are ahead on what they paid.
How much of this can we see?
We can see a buy price for 88% of the coins the Ethereum fund group holds.
What has Ethereum's price done lately?
As of Sep 23, 2026.
Price now
Past week
Up
Past month
Up
Against 200-day average
Above
Over the past month a net $1.53 billion went into the Ethereum ETFs, and Ethereum's price rose 8.1%. Ethereum is trading 29% above its average price for the past 200 days. Fund money is one part of what moves a price, so read those as two facts side by side rather than one causing the other.
Understanding
Ethereum ETF Cost Basis
Where it stands today
The US Ethereum ETFs paid an average of about $2,932 a coin for the Ethereum they hold as of .
At $2,753, Ethereum's price was about 6.1% below that as of .
52% of the Ethereum in the funds was worth more than it cost as of .
Cost basis is the average price the funds paid for the coins they hold. It works like your own average buy price: when Ethereum's price is above it, the funds are ahead on paper, and when it is below, they are behind.
The Worth vs. paid tab divides Ethereum's price by that average. Above 1.0 the coins are worth more than the funds paid for them, and below 1.0 they are worth less. It is the same comparison as the two lines on the Buy price tab, as one number.
Coins in profit counts the Ethereum the funds hold that are worth more today than they cost, as a share of all of them. Funds in profit counts the funds whose coins, taken together, are worth more than they paid.
The price line on the Buy price tab is worked out from the two figures the chart already has, so it can sit a little off the price quoted elsewhere for the same day.
The numbers
behind the chart
What does the current reading show?
Average buy price: the latest reading is $2,913, on . The highest reading since is $3,604 on ; the lowest is $2,836 on .
Ethereum price: the latest reading is $2,684, on . The highest reading since is $4,832 on ; the lowest is $1,473 on .
Worth vs. paid: the latest reading is 0.92x, on . The highest reading since is 1.45x on ; the lowest is 0.46x on .
The average price the funds paid for the Ethereum they held on each day, the Worth vs. paid figure, and Ethereum's price worked out from the two, which can sit a little off the price quoted above.
What are the latest, highest and lowest readings?
| Measure | Latest | Highest | Lowest |
|---|---|---|---|
| Average buy price | $2,913 | $3,604 | $2,836 |
| Ethereum price | $2,684 | $4,832 | $1,473 |
| Worth vs. paid | 0.92x | 1.45x | 0.46x |
How do the readings compare with earlier dates?
| Reference date | Average buy price | Ethereum price | Worth vs. paid |
|---|---|---|---|
| 1 month ago | $2,998 | $2,516 | 0.84x |
| 3 months ago | $3,174 | $1,666 | 0.53x |
| 6 months ago | $3,362 | $2,152 | 0.64x |
| 1 year ago | $3,511 | $4,165 | 1.19x |
| 2 years ago | $2,944 | $2,647 | 0.90x |
What was the reading at each month’s end?
| Reading date | Average buy price | Ethereum price | Worth vs. paid |
|---|---|---|---|
| $2,962 | $2,467 | 0.83x | |
| $3,081 | $1,862 | 0.60x | |
| $3,173 | $1,571 | 0.50x | |
| $3,211 | $2,013 | 0.63x | |
| $3,242 | $2,257 | 0.70x | |
| $3,332 | $2,105 | 0.63x | |
| $3,451 | $1,930 | 0.56x | |
| $3,531 | $2,705 | 0.77x | |
| $3,559 | $2,969 | 0.83x | |
| $3,579 | $3,031 | 0.85x | |
| $3,603 | $3,847 | 1.07x | |
| $3,531 | $4,145 | 1.17x | |
| $3,428 | $4,360 | 1.27x | |
| $3,102 | $3,698 | 1.19x | |
| $2,936 | $2,486 | 0.85x | |
| $3,018 | $2,532 | 0.84x | |
| $3,088 | $1,794 | 0.58x | |
| $3,226 | $1,822 | 0.56x | |
| $3,246 | $2,237 | 0.69x | |
| $3,295 | $3,300 | 1.00x | |
| $3,285 | $3,334 | 1.02x | |
| $3,024 | $3,593 | 1.19x | |
| $2,843 | $2,517 | 0.89x | |
| $2,904 | $2,602 | 0.90x |
Source: The money going into the Ethereum funds each trading day, and Ethereum's price. No fund publishes what it paid. This is worked out from the money going in and the price on the day it arrived, so treat it as close rather than exact. Reading for .