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ETHA

iShares Ethereum Trust ETF
ETHA

506 hedge funds and large institutions have $6.5B invested in iShares Ethereum Trust ETF in 2025 Q3 according to their latest regulatory filings, with 301 funds opening new positions, 134 increasing their positions, 42 reducing their positions, and 30 closing their positions.

New
Increased
Maintained
Reduced
Closed

903% more first-time investments, than exits

New positions opened: 301 | Existing positions closed: 30

338% more capital invested

Capital invested by funds: $1.48B → $6.5B (+$5.01B)

233% more funds holding in top 10

Funds holding in top 10: 9 → 30 (+21)

219% more repeat investments, than reductions

Existing positions increased: 134 | Existing positions reduced: 42

167.9% more ownership

Funds ownership: 101.19% → 269.09% (+168%)

114% more funds holding

Funds holding: 237 → 506 (+269)

8% more call options, than puts

Call options by funds: $1.79B | Put options by funds: $1.65B

Holders
506
Holders Change
+269
Holders Change %
+113.5%
% of All Funds
6.64%
Holding in Top 10
30
Holding in Top 10 Change
+21
Holding in Top 10 Change %
+233.33%
% of All Funds
0.39%
New
301
Increased
134
Reduced
42
Closed
30
Calls
$1.79B
Puts
$1.65B
Net Calls
+$133M
Net Calls Change
+$10.9M

Top Buyers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
+$834M
2
Goldman Sachs
Goldman Sachs
New York
+$515M
3
Jane Street
Jane Street
New York
+$443M
4
D.E. Shaw & Co
D.E. Shaw & Co
New York
+$260M
5
FCM
Farallon Capital Management
California
+$221M

Top Sellers

Rank Fund Capital Flow
1
BCM
BlueCrest Capital Management
Jersey
-$42.3M
2
Citadel Advisors
Citadel Advisors
Florida
-$28.5M
3
LSC
Logan Stone Capital
Illinois
-$23.2M
4
EC
Elequin Capital
New York
-$20.7M
5
WAM
Wolverine Asset Management
Illinois
-$8.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
EWA
226
Evolution Wealth Advisors
Florida
$638K +$600K +20,235 New
KP
227
Keel Point
Alabama
$630K +$593K +20,000 New
NL
228
NKCFO LLC
Illinois
$630K +$593K +20,000 New
FWP
229
Forefront Wealth Partners
Texas
$628K +$591K +19,923 New
LA
230
LM Advisors
California
$622K +$160K +5,408 +38%
STAS
231
Strong Tower Advisory Services
Minnesota
$621K – – –
BP
232
BBR Partners
New York
$620K +$583K +19,662 New
FWM
233
Forefront Wealth Management
Pennsylvania
$619K +$583K +19,648 New
SIA
234
SkyView Investment Advisors
New Jersey
$614K +$579K +19,500 New
NAM
235
NTV Asset Management
West Virginia
$599K +$564K +19,015 New
RAM
236
Revere Asset Management
Texas
$597K +$562K +18,954 New
OIA
237
OneDigital Investment Advisors
Kansas
$587K +$552K +18,616 New
GSIAS
238
Garden State Investment Advisory Services
New Jersey
$581K +$547K +18,434 New
FF
239
Foronjy Financial
California
$571K +$538K +18,133 New
BAM
240
Belpointe Asset Management
Nevada
$567K +$534K +17,982 New
RPC
241
Rossmore Private Capital
Connecticut
$561K – – –
USCWA
242
U.S. Capital Wealth Advisors
Texas
$558K -$48.3K -1,628 -8%
WMA
243
Wealth Management Associates
New Jersey
$558K +$525K +17,702 New
Northern Trust
244
Northern Trust
Illinois
$558K +$525K +17,699 New
EH
245
Equitable Holdings
New York
$556K +$524K +17,646 New
Osaic Holdings
246
Osaic Holdings
Arizona
$555K -$217K -7,314 -30%
HCMG
247
Howard Capital Management Group
California
$547K – – –
VVP
248
Venture Visionary Partners
Ohio
$539K +$508K +17,112 New
LIM
249
Leavell Investment Management
Alabama
$539K +$507K +17,100 New
ES
250
ETF Store
Kansas
$536K +$505K +17,022 New
8 9
10
11 12

ETHA Hedge Fund Activity: Q3 2025 in Review

506 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in iShares Ethereum Trust ETF (ETHA) for Q3 2025, worth a combined $6.5B — up 338% from $1.48B a quarter earlier.

Buyers outnumbered sellers: 301 funds opened new ETHA positions and 30 closed out — a net gain of 271 holders — while 134 added to existing stakes and 42 trimmed.

The largest buyer was Millennium Management, adding an estimated $834M. The largest seller was BlueCrest Capital Management, cutting an estimated $42.3M.

  • 506 institutional investors held iShares Ethereum Trust ETF (ETHA) as of Q3 2025, up from 237 in Q2 2025.
  • Funds reported $6.5B of iShares Ethereum Trust ETF stock for Q3 2025, up 338% quarter-over-quarter.
  • 301 funds opened new iShares Ethereum Trust ETF positions in Q3 2025 and 30 closed out, a net change of +271 holders.
  • The largest iShares Ethereum Trust ETF buyer in Q3 2025 was Millennium Management, an estimated $834M added.
  • The largest iShares Ethereum Trust ETF seller in Q3 2025 was BlueCrest Capital Management, an estimated $42.3M sold.

Based on aggregated 13F filings for Q3 2025.