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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
BF
326
bLong Financial
Tennessee
$294K +$276K +9,317 New
IA
327
Insight Advisors
Pennsylvania
$291K +$274K +9,247 New
DTL
328
Dynamic Technology Lab
Singapore
$289K +$272K +9,175 New
OFS
329
OneAscent Financial Services
Alabama
$289K +$272K +9,160 New
WGC
330
Watts Gwilliam & Co
Arizona
$285K +$3.89K +131 +1%
BFIM
331
Beese Fulmer Investment Management
Ohio
$284K +$268K +9,026 New
BA
332
Bristlecone Advisors
Washington
$284K +$267K +9,000 New
PCA
333
Prosperity Capital Advisors
Ohio
$274K +$258K +8,705 New
CWM
334
Copia Wealth Management
Oregon
$272K +$95.4K +3,215 +59%
BCP
335
Blackhawk Capital Partners
Wisconsin
$272K +$256K +8,644 New
RCM
336
Regency Capital Management
Hawaii
$272K +$256K +8,630 New
Wells Fargo
337
Wells Fargo
California
$272K +$254K +8,561 +13,377%
SG Americas Securities
338
SG Americas Securities
New York
$271K +$255K +8,587 New
GWP
339
Gateway Wealth Partners
Wisconsin
$270K +$254K +8,574 New
JSL
340
JT Stratford LLC
Georgia
$269K +$254K +8,544 New
JCM
341
J2 Capital Management
Michigan
$268K +$252K +8,499 New
IA
342
IAM Advisory
Pennsylvania
$268K +$252K +8,490 New
CWM
343
Cornerstone Wealth Management
Missouri
$266K +$251K +8,449 New
PP
344
Patten & Patten
Tennessee
$265K +$249K +8,395 New
FDCDDQ
345
Federation des caisses Desjardins du Quebec
Quebec, Canada
$262K +$150K +5,053 +155%
CAM
346
Carret Asset Management
New York
$262K +$246K +8,300 New
CMI
347
Clare Market Investments
Texas
$259K -$228K -7,685 -48%
BFWA
348
Benchmark Financial Wealth Advisors
Florida
$257K +$242K +8,167 New
KFGK
349
Keystone Financial Group (Kentucky)
Kentucky
$257K +$242K +8,156 New
NFSG
350
Newbridge Financial Services Group
Florida
$257K +$237K +7,980 +4,694%
12 13
14
15 16

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.