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ETH

Grayscale Ethereum Staking Mini ETF Shares
ETH

185 hedge funds and large institutions have $88.6M invested in Grayscale Ethereum Staking Mini ETF Shares in 2025 Q1 according to their latest regulatory filings, with 31 funds opening new positions, 47 increasing their positions, 39 reducing their positions, and 36 closing their positions.

New
Increased
Maintained
Reduced
Closed

21% more repeat investments, than reductions

Existing positions increased: 47 | Existing positions reduced: 39

6% less funds holding

Funds holding: 197 → 185 (-12)

8.69% less ownership

Funds ownership: 19.31% → 10.62% (-8.7%)

14% less first-time investments, than exits

New positions opened: 31 | Existing positions closed: 36

71% less capital invested

Capital invested by funds: $306M → $88.6M (-$218M)

80% less funds holding in top 10

Funds holding in top 10: 5 → 1 (-4)

Holders
185
Holders Change
-12
Holders Change %
-6.09%
% of All Funds
2.48%
Holding in Top 10
1
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-80%
% of All Funds
0.01%
New
31
Increased
47
Reduced
39
Closed
36
Calls
$420K
Puts
–
Net Calls
+$420K
Net Calls Change
-$348K

Top Buyers

Rank Fund Capital Flow
1
DS
DRW Securities
Illinois
+$4.57M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$2.5M
3
SW
Simplicity Wealth
New Jersey
+$2.17M
4
CAPTRUST Financial Advisors
CAPTRUST Financial Advisors
North Carolina
+$2.11M
5
VCM
Verde Capital Management
Michigan
+$1.22M

Top Sellers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
-$41.5M
2
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$31.8M
3
EC
Elequin Capital
New York
-$23.6M
4
AC
Almitas Capital
California
-$16.2M
5
Millennium Management
Millennium Management
New York
-$11.9M
Name Holding Trade Value Shares
Change 		Change in
Stake
RBC
26
Rye Brook Capital
Connecticut
$582K +$144K +5,800 +21%
RW
27
Rede Wealth
Virginia
$557K +$401K +16,170 +100%
FFP
28
Freedom Financial Partners
Minnesota
$529K +$25.8K +1,041 +4%
WSA
29
Warm Springs Advisors
California
$517K – – –
BCM
30
Brookstone Capital Management
Illinois
$516K +$145K +5,855 +24%
VFA
31
Valeo Financial Advisors
Indiana
$516K +$744K +29,983 New
Wealth Enhancement Advisory Services
32
Wealth Enhancement Advisory Services
Minnesota
$502K +$91.5K +3,689 +14%
HC
33
Hamilton Capital
Ohio
$498K – – –
JEST
34
JTC Employer Solutions Trustee
Jersey
$430K – – –
IIM
35
Illumine Investment Management
Washington
$430K +$39.5K +1,594 +7%
FAM
36
Formidable Asset Management
Ohio
$413K +$301K +12,155 +103%
SM
37
Scoggin Management
New York
$396K – – –
VHAM
38
Van Hulzen Asset Management
California
$382K +$117K +4,706 +27%
Kovitz Investment Group Partners
39
Kovitz Investment Group Partners
Illinois
$381K +$548K +22,112 New
GVAG
40
Great Valley Advisor Group
Delaware
$380K -$6.75K -272 -1%
EW
41
Evoke Wealth
California
$376K +$250K +10,077 +86%
JWWM
42
Johnson & White Wealth Management
Pennsylvania
$364K +$42.9K +1,728 +9%
QFMHK
43
Q Fund Management (Hong Kong)
$362K +$437K +17,600 +518%
AF
44
Advisornet Financial
Minnesota
$351K +$374K +15,078 +286%
RC
45
RBF Capital
California
$344K – – –
OMC
46
Old Mission Capital
Illinois
$296K -$3.23M -130,223 -88%
PI
47
Pachira Investments
California
$279K -$42.4K -1,709 -10%
WIP
48
WealthCare Investment Partners
Rhode Island
$279K +$67.9K +2,739 +17%
SA
49
Strategic Advocates
Utah
$263K +$379K +15,297 New
Focus Partners Wealth
50
Focus Partners Wealth
Massachusetts
$251K -$67.7K -2,729 -16%
1
2
3 4 5

ETH Hedge Fund Activity: Q1 2025 in Review

185 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Grayscale Ethereum Staking Mini ETF Shares (ETH) for Q1 2025, worth a combined $88.6M — down 71% from $306M a quarter earlier.

Sellers outnumbered buyers: 36 funds closed out of ETH and 31 opened new positions — a net loss of 5 holders — while 39 trimmed existing stakes and 47 added.

The largest buyer was DRW Securities, opening a new position worth an estimated $4.57M. The largest seller was Jane Street, cutting an estimated $41.5M.

  • 185 institutional investors held Grayscale Ethereum Staking Mini ETF Shares (ETH) as of Q1 2025, down from 197 in Q4 2024.
  • Funds reported $88.6M of Grayscale Ethereum Staking Mini ETF Shares stock for Q1 2025, down 71% quarter-over-quarter.
  • 31 funds opened new Grayscale Ethereum Staking Mini ETF Shares positions in Q1 2025 and 36 closed out, a net change of -5 holders.
  • The largest Grayscale Ethereum Staking Mini ETF Shares buyer in Q1 2025 was DRW Securities, an estimated $4.57M added.
  • The largest Grayscale Ethereum Staking Mini ETF Shares seller in Q1 2025 was Jane Street, an estimated $41.5M sold.

Based on aggregated 13F filings for Q1 2025.