HODL vs ETHA: A Comparative Analysis of Single-Crypto ETFs

The financial landscape is constantly evolving, with new investment options emerging on a regular basis. One such option that has gained significant attention in recent times is the single-crypto ETF, which allows investors to gain exposure to a specific cryptocurrency without directly holding it.

Two of the most prominent single-crypto ETFs are VanEck's HODL and iShares' ETHA, which track the performance of Bitcoin. A comparison of these two ETFs reveals some striking differences in terms of their performance.

The data shows that as of April 24, 2026, HODL reported a one-year return of -18.6%, while ETHA achieved a positive return of 28.16%. This significant performance discrepancy is a crucial factor for investors to consider when making choices.

Another key aspect to consider is the maximum drawdown analysis. According to this metric, HODL's one-year drawdown stands at 49.25%, compared to ETHA's 64.02%. While ETHA offers higher returns, it comes with significantly increased risk, necessitating careful risk assessment by investors.

In terms of assets under management, ETHA boasts $7.4 billion in AUM, which is significantly larger than HODL's $1.3 billion. This scale difference may impact liquidity and market acceptance, factors that investors should weigh in their decision-making process.