ETHA’s Descent: Will It Outpace FBTC?

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Let me be brutally honest: the Fidelity Wise Origin Bitcoin Fund (FBTC) and iShares Ethereum Trust ETF (ETHA) are like those friends who promise you’ll get rich quick. You know the ones-the ones who always seem to crash their cars on the way to the bank. Both offer crypto exposure, but one’s a Tesla on fire, the other a Prius with a flat tire. Same gas prices, different outcomes. Because of course.

These funds let you play with Bitcoin and Ether like they’re Monopoly money, but don’t let the “high-risk tolerance” line fool you. If you’re not prepared to lose sleep over a 30% drop, maybe stick to investing in your Netflix subscription. After all, at least that won’t make you want to scream into a pillow.

Snapshot (cost & size)

Metric FBTC ETHA
Issuer Fidelity iShares
Expense ratio 0.25% 0.25%
1-yr return (as of Dec. 18, 2025) (16.1%) (24.9%)
AUM $18.2 billion $10.0 billion

Beta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.

Same expense ratio, same lack of dividends. It’s like dating two people who both claim to love you equally but never show up to your birthday. Cost? A non-factor. Yield? A non-factor. Volatility? Oh, that’s the main event.

Performance & risk comparison

Metric FBTC ETHA
Max drawdown (5 y) (32.64%) (64.02%)
Growth of $1,000 over 5 years $1,804 $800

What’s inside

iShares Ethereum Trust ETF is a pure play on Ether, like a love letter written in all caps. 100% Ether, 0% nuance. Fidelity’s Bitcoin Fund? It’s 99.98% Bitcoin and a smidge of whatever they found in the back of the fridge. Both are single-asset bets, but one’s a blockbuster, the other a B-movie with higher stakes and lower returns.

Neither fund does anything fancy-no leverage, no hedging. Just you, your portfolio, and the ghost of Satoshi Nakamoto judging your life choices. Again.

What this means for investors

Crypto ETFs are the equivalent of hiring a babysitter for your money. You don’t have to manage a wallet, but you still get to watch your savings evaporate like it’s a Netflix series with no ending. ETHA’s down 39.5% from its peak? That’s not a drawdown-it’s a divorce. FBTC’s 30.3% drop? A messy breakup. Both are just asking you to stay a little longer at the table.

And here’s the kicker: these ETFs track rates set by Fidelity and CME. Like, good luck trying to explain that to your broker when you’re down 60%. “Oh, it’s not us, it’s the reference rate.” Of course.

Glossary

ETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding assets like stocks, bonds, or commodities. Because who wants to actually understand what they’re investing in?
Expense ratio: The annual fee, as a percentage of assets, that a fund charges its investors. Because charging you 0.25% is generous, really.
Drawdown: The percentage decline from a fund’s peak value to its lowest point over a specific period. Like watching your dreams of early retirement go up in smoke.
Beta: A measure of an investment’s volatility compared to the overall market. Because nothing says “safe” like being twice as volatile as the S&P 500.
AUM (Assets Under Management): The total market value of assets that a fund or investment company manages on behalf of investors. Because bigger isn’t always better, but it sure feels impressive.
Max drawdown: The largest observed loss from a fund’s peak to its trough over a given period. Like the plot of your life, but worse.
Growth of $1,000: The ending value of a $1,000 investment over a specified time, showing cumulative performance. Because $800 is just a nice round number.
Pure play: An investment focused exclusively on a single asset, sector, or market. Because diversification is for people who don’t trust the universe.
Leverage: The use of borrowed money to increase the potential return of an investment. Because why not bet your house if you’re already broke?
Currency hedging: Strategies used to reduce the impact of currency fluctuations on investment returns. Because nothing says “I’ve got this” like ignoring the dollar’s death spiral.
Dividend: A payment made by a company or fund to its shareholders, usually from profits. Because nothing says “thank you” like a check you’ll never see.

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For more guidance on ETF investing, check out the full guide at this link. Or don’t. You’ve already made your biggest mistake.

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2025-12-28 20:53