Are Ethereum ETFs available in Europe & the UK? Best alternatives

Interested in investing in Ethereum ETFs but not sure where to start? This article will guide you through the best Ethereum ETF alternatives, how they work, the best crypto exchanges, and other options available to investors in the UK and Europe. Let’s dive in!

Can I invest in Ethereum ETFs from Europe and the UK?

Due to regulatory barriers, investing directly in a true Ethereum ETF isn’t an option for those in Europe and the UK. What investors get instead is exposure through exchange-traded notes (ETNs), also marketed as exchange-traded products (ETPs).

Why not?

In Europe, UCITS rules (the EU framework for investment funds sold to retail investors) require ETFs to be diversified across multiple assets, and crypto is not an eligible asset for direct investment. Since an Ethereum-only ETF doesn’t meet these criteria, such products cannot be launched as UCITS ETFs. Spot Ethereum ETFs do exist in the US, such as the iShares Ethereum Trust (ETHA), but they are not available to European retail investors.

In the UK, the Financial Conduct Authority (FCA) also does not permit single-asset Ethereum ETFs. However, the rules around crypto ETNs have changed significantly.

What changed in the UK?

From 8 October 2025, the FCA allowed retail investors to buy crypto exchange-traded notes (ETNs) for the first time, as long as they are listed on an FCA-recognised exchange such as the London Stock Exchange (LSE). These ETNs, issued by providers such as 21Shares, WisdomTree, Bitwise and CoinShares, give investors exposure to Bitcoin and Ethereum.

Previously, these ETNs were only available to professional investors, leaving direct crypto purchases as the only route for retail clients. Since 20 October 2025, issuers including 21Shares, Bitwise, WisdomTree and CoinShares have opened their physically backed Bitcoin and Ethereum ETPs to UK retail investors on the LSE, accessible through standard brokerage accounts and, if your provider allows it, SIPPs.

One important caveat: crypto ETNs remain high-risk products and are not covered by the Financial Services Compensation Scheme (FSCS). And since 6 April 2026, new purchases can only go into an Innovative Finance ISA (IFISA), not a Stocks and Shares ISA. Crypto ETNs bought in a Stocks and Shares ISA before that date can stay there, according to HMRC.

So while a true Ethereum ETF remains off the table, there are still solid ways to gain exposure to Ethereum. The main routes are crypto ETNs, now available to UK retail investors and long established across the EU, or buying Ethereum directly through a trusted exchange. We cover both below.

Best Ethereum ETF alternatives in Europe & the UK

1. Ethereum ETNs & ETPs

While Ethereum ETFs aren’t available, European and UK investors can still access Ethereum ETNs (Exchange-Traded Notes) and ETPs (Exchange-Traded Products). These financial products allow you to invest in Ethereum’s performance without directly holding the cryptocurrency.

How do ETNs work?

When you invest in an ETN, you’re purchasing a debt security issued by a financial institution that tracks the value of an asset like Ethereum. Each note represents an obligation from the issuer, backed by the underlying asset, ensuring the ETN closely follows the asset’s price.

While ETNs offer this convenience, you’ll have less direct control over the asset, so choosing issuers with a strong reputation and robust security measures is essential.

Although ETNs charge an annual fee, these costs are often comparable to the expenses you’d incur managing a personal crypto wallet. Despite the potential for minor tracking discrepancies, ETNs remain a liquid and accessible method for you to invest in cryptocurrencies.

ETNs vs ETFs: key differences

Although both ETNs and ETFs provide asset exposure, there are key differences:

• Structure: ETFs hold a basket of assets, while ETNs are structured as debt securities, not equity.
• Diversification: ETFs spread risk across multiple assets, while ETNs can focus solely on Ethereum.
• Collateral: ETNs are often backed by physical Ethereum, while ETFs are backed by the assets within the fund.
• Credit risk: ETNs carry the issuer’s credit risk, unlike ETFs, which are directly tied to the underlying assets.

You can find more detailed information about the differences between ETFs and ETNs on the Investopedia website.

Best Ethereum ETNs/ETPs in Europe and the UK (ordered by AUM)

The table below lists the largest Ethereum ETPs available to European investors. All of them are physically backed, and all except VanEck’s also trade on the London Stock Exchange, so UK retail investors can buy them too.

1) CoinShares Physical Staked Ethereum

• ISIN: GB00BLD4ZM24
• Tickers: CETH (Xetra, Euronext, EUR), ETHP (LSE, GBP), ETHE (LSE and SIX, USD)
• AUM: about €390M ($445M)
• Annual fee (TER): 0.00%
• Key features:
  • The largest Ethereum ETP in Europe.
  • Stakes its Ethereum and passes a fixed staking reward of 1.25% a year to investors.
  • No management fee, physically backed with 100% collateral.

2) 21Shares Ethereum Staking ETP (AETH)

• ISIN: CH0454664027
• Tickers: AETH (SIX, Euronext, LSE), ETHA and ETHB (Xetra)
• AUM: about €289M
• Annual fee (TER): 1.49%
• Key features:
  • Exposure to Ethereum with the added benefit of staking rewards.
  • Physically backed, with Ethereum held in cold storage.
  • One of the oldest Ethereum ETPs in Europe, but also one of the most expensive.

3) Bitwise Ethereum Staking ETP

• ISIN: DE000A3G90G9
• Tickers: ET32 (Xetra, EUR), ET33 (LSE, GBP)
• AUM: about €220M ($253M)
• Annual fee (TER): 0.65%
• Key features:
  • Stakes its Ethereum, with an average net staking reward of around 1.85% a year.
  • Fee cut from 0.85% to 0.65%.
  • Bitwise, formerly ETC Group, also offers a non-staking Bitwise Physical Ethereum ETP (ZETH) at 1.49%.

4) WisdomTree Physical Ethereum

• ISIN: GB00BJYDH394
• Tickers: WETH (Xetra, EUR), WETP (LSE, GBP), ETHW (USD)
• AUM: about €217M ($250M)
• Annual fee (TER): 0.35%
• Key features:
  • Physically backed, with Ethereum held in regulated cold storage.
  • Generates a staking yield on the portion of assets staked.
  • Part of WisdomTree’s broader range of digital asset ETPs.

5) VanEck Ethereum ETN (VETH)

• ISIN: DE000A3GPSP7
• Tickers: VETH (Xetra, Euronext, EUR)
• AUM: about €175M ($199M)
• Annual fee (TER): 1.00%
• Key features:
  • Physically backed, held in cold storage.
  • VanEck has enabled staking on the underlying Ethereum.
  • Not listed on the London Stock Exchange.

6) 21Shares Ethereum Core Staking ETP (ETHC)

• ISIN: CH1209763130
• Tickers: ETHC (Xetra, Euronext, LSE)
• AUM: about €105M ($123M)
• Annual fee (TER): 0.10%
• Key features:
  • One of the cheapest Ethereum ETPs in Europe after a fee cut from 0.21%.
  • Now includes staking.
  • Fully collateralised, with institutional-grade custody (BitGo and Coinbase Custody).

2. Buying Ethereum directly

Purchasing cryptocurrency through a reputable exchange is your best option if you prefer to own Ethereum directly rather than investing in ETNs or ETPs. Direct ownership gives you complete control over the asset, but it also requires you to manage its security and storage.

You can store your Ethereum in hot wallets, which are always connected to the internet for easier access. For enhanced security, you might opt for cold wallets, which store your private keys offline, making them less vulnerable to online threats. By choosing a reliable platform, you ensure both the accessibility and security of your investment.

Best brokers/exchanges to buy Ethereum from Europe & the UK

1. eToro

2. Coinbase

3. Crypto.com

All three platforms hold a MiCA licence, the EU authorisation that every crypto service provider needs since the transitional period ended on 1 July 2026. Uphold, which we previously listed, paused deposits for EU clients on that date because it had not yet obtained MiCA authorisation, although it still serves UK clients.

Will I be able to invest in Ethereum ETFs soon?

Not in the near future. In the EU, the European Securities and Markets Authority (ESMA) delivered its technical advice on UCITS eligible assets in June 2025, and it did not recommend allowing direct crypto investments in UCITS funds. The European Commission is still reviewing the rules, and nothing has been adopted yet. In the UK, retail investors can now buy Ethereum ETNs (not ETFs) since 8 October 2025.

Meanwhile, the EU crypto market itself is now fully regulated: the Markets in Crypto-Assets Regulation (MiCA) has applied since 30 December 2024, and its transitional period ended on 1 July 2026.

In the US, spot Ethereum ETFs have traded since July 2024, and since October 2025 some of them can also stake their Ethereum. The largest, the iShares Ethereum Trust (ETHA), held about $9.8 billion on 2 October 2026. These US funds are not available to retail investors in the EU or the UK.

Bottom line

In summary, while the current rules in Europe and the UK do not allow Ethereum ETFs, there are still viable alternatives for investors who want to gain exposure to Ethereum. The most straightforward options include investing in Ethereum ETNs or ETPs, which provide a regulated and secure way to participate in the cryptocurrency’s performance.

For those seeking low fees, the CoinShares Physical Staked Ethereum (0% fee, with a fixed staking reward) and the 21Shares Ethereum Core Staking ETP (0.10%) stand out. If you want staking rewards at a moderate cost, the Bitwise Ethereum Staking ETP (0.65%) is another option, while the 21Shares Ethereum Staking ETP is the most expensive of the group.

However, if you prefer to own Ethereum directly and are prepared to manage its security and storage, purchasing Ethereum through a trusted exchange like eToro, Coinbase or Crypto.com provides full control over your asset, with varying levels of fees and security to suit your needs.

Remember, investing in cryptocurrencies carries significant risk due to market volatility and the absence of traditional investor protections. Always align your investment decisions with your financial goals and risk tolerance.

If you have any questions or need further guidance, feel free to reach out!