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ETH

Grayscale Ethereum Staking Mini ETF Shares
ETH

200 hedge funds and large institutions have $245M invested in Grayscale Ethereum Staking Mini ETF Shares in 2025 Q2 according to their latest regulatory filings, with 39 funds opening new positions, 43 increasing their positions, 42 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

207% more call options, than puts

Call options by funds: $14.3M | Put options by funds: $4.65M

177% more capital invested

Capital invested by funds: $88.6M → $245M (+$157M)

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

86% more first-time investments, than exits

New positions opened: 39 | Existing positions closed: 21

8.72% more ownership

Funds ownership: 10.62% → 19.35% (+8.7%)

8% more funds holding

Funds holding: 185 → 200 (+15)

2% more repeat investments, than reductions

Existing positions increased: 43 | Existing positions reduced: 42

Holders
200
Holders Change
+15
Holders Change %
+8.11%
% of All Funds
2.63%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.03%
New
39
Increased
43
Reduced
42
Closed
21
Calls
$14.3M
Puts
$4.65M
Net Calls
+$9.63M
Net Calls Change
+$9.21M

Top Buyers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
+$26.1M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$25.6M
3
HI
HBK Investments
Texas
+$22.1M
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$17.3M
5
LSC
Logan Stone Capital
Illinois
+$10.5M

Top Sellers

Rank Fund Capital Flow
1
FCG
Fielder Capital Group
Tennessee
-$4.17M
2
DS
DRW Securities
Illinois
-$3.17M
3
SW
Simplicity Wealth
New Jersey
-$1.51M
4
Renaissance Technologies
Renaissance Technologies
New York
-$661K
5
PPW
Pasadena Private Wealth
California
-$459K
Name Holding Trade Value Shares
Change 		Change in
Stake
RC
51
RBF Capital
California
$474K – – –
FAM
52
Formidable Asset Management
Ohio
$413K – – –
VFA
53
Valeo Financial Advisors
Indiana
$378K -$290K -14,039 -47%
SA
54
Strategic Advocates
Utah
$375K +$10.3K +498 +3%
PI
55
Pachira Investments
California
$356K -$17.3K -838 -5%
Focus Partners Wealth
56
Focus Partners Wealth
Massachusetts
$353K +$6.72K +325 +2%
IMC Chicago
57
IMC Chicago
Illinois
$346K +$302K +14,606 New
PWS
58
Precision Wealth Strategies
Missouri
$332K +$65.9K +3,188 +29%
BFA
59
Beaumont Financial Advisors
Massachusetts
$328K +$19.1K +924 +7%
JWWM
60
Johnson & White Wealth Management
Pennsylvania
$319K -$159K -7,663 -36%
MML Investors Services
61
MML Investors Services
Massachusetts
$314K +$274K +13,248 New
IA
62
IFC Advisors
California
$314K – – –
AWM
63
Avaii Wealth Management
Wisconsin
$314K +$273K +13,218 New
CA
64
Claro Advisors
Massachusetts
$295K +$257K +12,439 New
PAG
65
Private Advisor Group
New Jersey
$280K -$2.67K -129 -1%
DA
66
Doliver Advisors
Texas
$274K -$2.48K -120 -1%
CWM
67
Copia Wealth Management
Oregon
$267K +$91.7K +4,434 +65%
LWL
68
Leo Wealth LLC
Texas
$253K -$2.23K -108 -1%
ICP
69
Interchange Capital Partners
Pennsylvania
$244K +$198K +9,565 New
USCWA
70
U.S. Capital Wealth Advisors
Texas
$228K +$199K +9,629 New
IAS
71
Insigneo Advisory Services
Florida
$228K +$199K +9,612 New
VCA
72
Verdence Capital Advisors
Maryland
$226K +$197K +9,527 New
ST
73
Smithfield Trust
Pennsylvania
$214K – – –
DAS
74
Diversify Advisory Services
Utah
$210K +$102K +4,929 New
KPWS
75
Kestra Private Wealth Services
Texas
$206K +$180K +8,680 New
1 2
3
4 5

ETH Hedge Fund Activity: Q2 2025 in Review

200 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Grayscale Ethereum Staking Mini ETF Shares (ETH) for Q2 2025, worth a combined $245M — up 177% from $88.6M a quarter earlier.

Buyers outnumbered sellers: 39 funds opened new ETH positions and 21 closed out — a net gain of 18 holders — while 43 added to existing stakes and 42 trimmed.

The largest buyer was Millennium Management, adding an estimated $26.1M. The largest seller was Fielder Capital Group, cutting an estimated $4.17M.

  • 200 institutional investors held Grayscale Ethereum Staking Mini ETF Shares (ETH) as of Q2 2025, up from 185 in Q1 2025.
  • Funds reported $245M of Grayscale Ethereum Staking Mini ETF Shares stock for Q2 2025, up 177% quarter-over-quarter.
  • 39 funds opened new Grayscale Ethereum Staking Mini ETF Shares positions in Q2 2025 and 21 closed out, a net change of +18 holders.
  • The largest Grayscale Ethereum Staking Mini ETF Shares buyer in Q2 2025 was Millennium Management, an estimated $26.1M added.
  • The largest Grayscale Ethereum Staking Mini ETF Shares seller in Q2 2025 was Fielder Capital Group, an estimated $4.17M sold.

Based on aggregated 13F filings for Q2 2025.