Ethereal was sired by the 1989 U.S. Champion 2-Yr-Old Colt and Breeders' Cup Juvenile winner, Rhythm (USA).
Her dam was Romanee Conti, a Hong Kong Cup winner and a daughter of leading sire Sir Tristram (IRE).
An international campaign was considered to possibly include the Arc de Triomphe, but was abandoned due to the tough racing she had endured the previous season.
Immediately following her win in the 2002 BMW Stakes, Ethereal was retired from racing to serve as a broodmare for her owner's Pencarrow Stud at Hamilton, New Zealand.
In 2007 Ethereal's colt by Stravinsky, sold for NZ$1,300,000 at the Karaka Premier sale in 2007.