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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
AFG
126
Albion Financial Group
Utah
$8.3K – – –
CLOS
127
Compagnie Lombard Odier SCmA
Switzerland
$8.3K – – –
SWM
128
Spire Wealth Management
Virginia
$8.09K -$1.53K -74 -18%
NFSG
129
Newbridge Financial Services Group
Florida
$8.09K – – –
BWL
130
Bogart Wealth LLC
Virginia
$7.8K – – –
SS
131
Sunbelt Securities
Texas
$7.62K -$207 -10 -4%
ACA
132
American Capital Advisory
Idaho
$7.16K – – –
CA
133
Clearstead Advisors
Ohio
$6.69K – – –
NSIM
134
North Star Investment Management
Illinois
$6.67K – – –
US Bancorp
135
US Bancorp
Minnesota
$6.55K -$517 -25 -8%
GWM
136
Geneos Wealth Management
Colorado
$6.03K -$9.97K -482 -65%
WT
137
Whittier Trust
California
$4.91K – – –
HT
138
Headlands Technologies
Illinois
$4.74K -$8.87K -429 -68%
HC
139
Hurley Capital
New York
$4.51K – – –
GC
140
Garde Capital
Washington
$4.27K – – –
SVCP
141
Silicon Valley Capital Partners
California
$4.01K – – –
NWM
142
Nova Wealth Management
Florida
$3.96K – – –
LWMI
143
Legacy Wealth Management (Idaho)
Idaho
$3.87K – – –
LIS
144
Legacy Investment Solutions
Idaho
$3.87K +$3.37K +163 New
HCM
145
Hollencrest Capital Management
California
$3.63K – – –
HNB
146
Huntington National Bank
Ohio
$3.08K – – –
CSC
147
Caldwell Sutter Capital
California
$2.96K +$2.59K +125 New
WCM
148
Westend Capital Management
California
$2.96K +$2.59K +125 New
JFA
149
JNBA Financial Advisors
Minnesota
$2.59K – – –
SIS
150
Strategic Investment Solutions
Illinois
$2.56K – – –
4 5
6
7 8

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.