TETH Review: 21Shares Ethereum Staking ETF Fees & Staking

TETH holds ether so that its shares follow ether’s price, less expenses, and it adds the staking rewards the trust receives. It holds the ether itself and uses no futures contracts.

The fund launched in July 2024 as the 21Shares Core Ethereum ETF under the ticker CETH. It was later renamed the 21Shares Ethereum ETF, and took its current name, with “Staking” added, in August 2026.

Shareholders own an interest in the trust. They can hold and trade that security, but they do not control the private keys to its ether.

Benchmark and How to Check Tracking

Since August 27, 2026, TETH has valued its ether using the FTSE Ethereum Index. Before that it used the CME CF Ether-Dollar Reference Rate – New York Variant. The benchmark sets the daily price used to calculate net asset value.

Net asset value, or NAV, is the value of the trust’s assets after liabilities, divided by the number of shares. Staking rewards are paid out in cash, so NAV alone understates what a shareholder earned. To judge tracking, compare the NAV return with the benchmark. To see what staking added, compare total return, including distributions, with the NAV return. The benchmark change in August 2026 affects any comparison that spans that date.