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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
BRWA
251
B. Riley Wealth Advisors
Florida
$528K +$498K +16,769 New
FP
252
Fiduciary Planning
Florida
$524K +$494K +16,642 New
CWM
253
ClientFirst Wealth Management
Arkansas
$522K +$492K +16,568 New
ASN
254
Advisory Services Network
Georgia
$516K +$486K +16,366 New
LCWP
255
Legacy Capital Wealth Partners
Arkansas
$514K +$484K +16,311 New
DCM
256
DGS Capital Management
New Jersey
$513K +$483K +16,283 New
IA
257
IFP Advisors
Florida
$504K +$305K +10,268 +179%
PWS
258
Precision Wealth Strategies
Missouri
$502K -$712 -24 -0.2%
GIA
259
GHP Investment Advisors
Colorado
$501K +$471K +15,890 New
S
260
SignatureFD
Georgia
$487K +$459K +15,454 New
GIA
261
Gladstone Institutional Advisory
Florida
$487K +$458K +15,451 New
BJL
262
Brighton Jones LLC
Washington
$486K +$458K +15,423 New
FAM
263
Formidable Asset Management
Ohio
$481K +$137K +4,615 +22%
VA
264
Valmark Advisers
Ohio
$480K +$452K +15,244 New
EC
265
Elequin Capital
New York
$473K -$20.7M -697,479 -98%
AWM
266
Axxcess Wealth Management
California
$471K -$178K -6,015 -29%
HCM
267
Highbridge Capital Management
New York
$471K +$444K +14,952 New
AWM
268
Avior Wealth Management
Nebraska
$470K +$33.8K +1,140 +8%
MCM
269
MAI Capital Management
Ohio
$470K +$245K +8,259 +124%
TWM
270
Tradition Wealth Management
Minnesota
$467K +$440K +14,826 New
LW
271
Lauer Wealth
Indiana
$453K +$446K +15,037 New
WAP
272
Wealthcare Advisory Partners
Pennsylvania
$443K +$417K +14,068 New
MCM
273
Manchester Capital Management
Vermont
$440K +$107K +3,608 +35%
ICP
274
Interchange Capital Partners
Pennsylvania
$432K -$133K -4,491 -25%
PCA
275
Pallas Capital Advisors
Massachusetts
$431K +$406K +13,688 New
9 10
11
12 13

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.