An etching tray for etching PCD cutting inserts is provided. The etching system includes a tray having a bottom and side walls extending upwardly from the tray bottom and a lid attachable to the top of the tray. The lid may include a funnel formed as an integral part of the lid which has an upper opening disposed above the lid and a lower neck which extends into the tray. The lid may also include an opening for a float to pass through and provide a visual indication of the liquid level in the tray. An etching fixture may be disposed in the tray for etching cutting inserts. The etching fixture has a body which holds a cutting insert to expose the cutting insert for etching.