Bitcoin Price: ETHH-B.TO tracks Ethereum’s price; therefore, movements in Ethereum's value directly influence the ETF's price.

Supply and Demand: Increased demand for ETHH-B.TO relative to its supply pushes the price higher, while increased supply relative to demand pushes it lower.

Regulatory Environment: Changes in regulations concerning cryptocurrencies, particularly Ethereum, can significantly impact investor sentiment and ETHH-B.TO's price.

Market Sentiment: General investor sentiment towards cryptocurrencies and risk assets affects demand for ETHH-B.TO. Positive sentiment leads to higher demand and price, while negative sentiment leads to lower demand and price.

Competition: The emergence of other similar Ethereum ETFs or cryptocurrency investment products can impact demand for ETHH-B.TO and its price.

Management Fees: The expense ratio charged by the ETF manager can influence its attractiveness to investors and indirectly affect its price, though typically this impact is minor day to day.