Grayscale Ethereum Staking Mini ETF Shares
298 hedge funds and large institutions have $423M invested in Grayscale Ethereum Staking Mini ETF Shares in 2025 Q4 according to their latest regulatory filings, with 68 funds opening new positions, 102 increasing their positions, 56 reducing their positions, and 63 closing their positions.
357% more call options, than puts
Call options by funds: $112M | Put options by funds: $24.5M
82% more repeat investments, than reductions
Existing positions increased: 102 | Existing positions reduced: 56
1% more funds holding
Funds holding: 294 → 298 (+4)
8% more first-time investments, than exits
New positions opened: 68 | Existing positions closed: 63
0% more funds holding in top 10
Funds holding in top 10: 6 → 6 (0)
0.77% less ownership
Funds ownership: 19.97% → 19.2% (-0.77%)
28% less capital invested
Capital invested by funds: $590M → $423M (-$168M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$132M |
| 2 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
+$30.7M |
| 3 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
+$24M |
| 4 |
PL
Parkwood LLC
Cleveland,
Ohio
|
+$13.3M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$13.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$178M |
| 2 |
Jane Street
New York
|
-$39.2M |
| 3 |
Envestnet Asset Management
Chicago,
Illinois
|
-$22.2M |
| 4 |
KCM
Kedalion Capital Management
London,
United Kingdom
|
-$18M |
| 5 |
Marshall Wace
London,
United Kingdom
|
-$15.7M |
ETH Hedge Fund Activity: Q4 2025 in Review
298 of the 8,261 institutional investors tracked by Wall St. Rank reported a position in Grayscale Ethereum Staking Mini ETF Shares (ETH) for Q4 2025, worth a combined $423M — down 28% from $590M a quarter earlier.
Buyers outnumbered sellers: 68 funds opened new ETH positions and 63 closed out — a net gain of 5 holders — while 102 added to existing stakes and 56 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $132M. The largest seller was Millennium Management, exiting entirely with an estimated $178M sold.
- 298 institutional investors held Grayscale Ethereum Staking Mini ETF Shares (ETH) as of Q4 2025, up from 294 in Q3 2025.
- Funds reported $423M of Grayscale Ethereum Staking Mini ETF Shares stock for Q4 2025, down 28% quarter-over-quarter.
- 68 funds opened new Grayscale Ethereum Staking Mini ETF Shares positions in Q4 2025 and 63 closed out, a net change of +5 holders.
- The largest Grayscale Ethereum Staking Mini ETF Shares buyer in Q4 2025 was Morgan Stanley, an estimated $132M added.
- The largest Grayscale Ethereum Staking Mini ETF Shares seller in Q4 2025 was Millennium Management, an estimated $178M sold.
Based on aggregated 13F filings for Q4 2025.