Bitwise Ethereum ETF (ETHW) Cost Basis
What did ETHW pay for its coins?
The average price ETHW paid for the Ethereum it holds, set against Ethereum's price.
What ETHW paid, and Ethereum's price
The average price ETHW paid for the Ethereum it still holds, beside Ethereum's own price. The price line is Ethereum's closing price each day, the same price the money held is valued at. 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 ETHW had paid for Ethereum with Ethereum's price on each.
| Measure | Change | Relative change | ||
|---|---|---|---|---|
| Average buy price | $3,115 | $3,113 | −$2.00 | −0.1% |
| Ethereum price | $2,697 | $2,235 | −$462 | −17.1% |
Right now
On average ETHW paid about $3,113 a coin for the Ethereum it holds. At $2,235, Ethereum is about 28% below that.
Is ETHW in profit?
As of 6 Nov 2026.
Coins in profit
Of the Ethereum the fund holds, the share worth more today than it cost.
19% of the Ethereum in ETHW is worth more today than it cost. Taken together, the fund is behind on what it paid.
How much of this can we see?
We can see a buy price for 94% of the coins ETHW holds.
What has Ethereum's price done lately?
As of 6 Nov 2026.
Price now
Past week
Flat
Past month
Down
Over the past month barely any money moved either way, and Ethereum's price fell 17%. 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
Bitwise Ethereum ETF (ETHW) Cost Basis
Where it stands today
Bitwise Ethereum ETF (ETHW) paid an average of about $3,113 a coin for the Ethereum it holds as of .
At $2,235, Ethereum's price was about 28% below that as of .
19% of the Ethereum in ETHW was worth more than it cost as of .
Cost basis is the average price ETHW paid for the coins it holds. It works like your own average buy price: when Ethereum's price is above it, the fund is ahead on paper, and when it is below, it is behind.
The Worth vs. paid tab divides Ethereum's price by that average. Above 1.0 the coins are worth more than the fund 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 fund holds that are worth more today than they cost, as a share of all of them.
The numbers
behind the chart
What does the current reading show?
Average buy price: the latest reading is $3,113, on . The highest reading since is $3,756 on ; the lowest is $2,900 on .
Ethereum price: the latest reading is $2,235, on . The highest reading since is $4,832 on ; the lowest is $1,473 on .
Worth vs. paid: the latest reading is 0.72x, on . The highest reading since is 1.51x on ; the lowest is 0.47x on .
The average price ETHW paid for the Ethereum it held on each day, the Worth vs. paid figure, and Ethereum's closing price that day.
What are the latest, highest and lowest readings?
| Measure | Latest | Highest | Lowest |
|---|---|---|---|
| Average buy price | $3,113 | $3,756 | $2,900 |
| Ethereum price | $2,235 | $4,832 | $1,473 |
| Worth vs. paid | 0.72x | 1.51x | 0.47x |
How do the readings compare with earlier dates?
| Reference date | Average buy price | Ethereum price | Worth vs. paid |
|---|---|---|---|
| 1 month ago | $3,115 | $2,697 | 0.87x |
| 3 months ago | $3,238 | $1,904 | 0.59x |
| 6 months ago | $3,348 | $2,351 | 0.70x |
| 1 year ago | $3,752 | $3,315 | 0.88x |
| 2 years ago | $2,982 | $2,722 | 0.91x |
What was the reading at each month’s end?
| Reading date | Average buy price | Ethereum price | Worth vs. paid |
|---|---|---|---|
| $3,113 | $2,241 | 0.72x | |
| $3,115 | $2,685 | 0.86x | |
| $3,190 | $2,468 | 0.77x | |
| $3,258 | $1,863 | 0.57x | |
| $3,286 | $1,572 | 0.48x | |
| $3,321 | $2,014 | 0.61x | |
| $3,354 | $2,258 | 0.67x | |
| $3,397 | $2,104 | 0.62x | |
| $3,479 | $1,930 | 0.55x | |
| $3,587 | $2,706 | 0.75x | |
| $3,661 | $2,972 | 0.81x | |
| $3,685 | $3,032 | 0.82x | |
| $3,756 | $3,848 | 1.02x | |
| $3,583 | $4,145 | 1.16x | |
| $3,307 | $4,360 | 1.32x | |
| $3,031 | $3,698 | 1.22x | |
| $2,922 | $2,486 | 0.85x | |
| $2,968 | $2,531 | 0.85x | |
| $2,990 | $1,794 | 0.60x | |
| $3,159 | $1,822 | 0.58x | |
| $3,192 | $2,238 | 0.70x | |
| $3,204 | $3,301 | 1.03x | |
| $3,196 | $3,337 | 1.04x | |
| $3,077 | $3,594 | 1.17x |
Source: The money going into and out of ETHW 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 .