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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
+$834M |
| 2 |
Goldman Sachs
New York
|
+$515M |
| 3 |
Jane Street
New York
|
+$443M |
| 4 |
D.E. Shaw & Co
New York
|
+$260M |
| 5 |
FCM
Farallon Capital Management
San Francisco,
California
|
+$221M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BCM
BlueCrest Capital Management
St Helier,
Jersey
|
-$42.3M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$28.5M |
| 3 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
-$23.2M |
| 4 |
EC
Elequin Capital
New York
|
-$20.7M |
| 5 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$8.5M |
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.