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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
FC
376
Franchise Capital
Cayman Islands
$222K +$209K +7,050 New
IWM
377
IHT Wealth Management
Illinois
$222K +$209K +7,044 New
SIAP
378
Sterling Investment Advisors (Pennsylvania)
Pennsylvania
$218K +$205K +6,925 New
SAW
379
Signal Advisors Wealth
Michigan
$218K +$205K +6,914 New
GWM
380
GK Wealth Management
Nevada
$217K +$204K +6,875 New
GVAG
381
Great Valley Advisor Group
Delaware
$217K +$204K +6,873 New
GF
382
Gimbal Financial
Indiana
$217K +$204K +6,873 New
PPWM
383
Perissos Private Wealth Management
Oklahoma
$216K +$203K +6,850 New
NSIM
384
North Star Investment Management
Illinois
$215K +$157K +5,285 +341%
TB
385
Terril Brothers
Missouri
$211K +$199K +6,695 New
AFW
386
Atlantic Family Wealth
Florida
$211K +$199K +6,693 New
SW
387
SteelPeak Wealth
California
$211K +$198K +6,684 New
PPC
388
Pennington Partners & Co
Maryland
$206K +$194K +6,538 New
EW
389
Evoke Wealth
California
$206K +$194K +6,525 New
PA
390
Procyon Advisors
Connecticut
$203K +$191K +6,432 New
CSB
391
City State Bank
Iowa
$191K +$180K +6,070 New
GWM
392
Geneos Wealth Management
Colorado
$190K -$153K -5,173 -46%
CWIG
393
Chung Wu Investment Group
Texas
$189K +$178K +6,000 New
LFG
394
Larson Financial Group
Missouri
$174K +$146K +4,922 +815%
DIP
395
DT Investment Partners
Pennsylvania
$158K +$148K +5,002 New
MIM
396
MTM Investment Management
South Carolina
$156K +$147K +4,949 New
HCM
397
Hollencrest Capital Management
California
$149K +$141K +4,741 New
CPG
398
Cornerstone Planning Group
New Jersey
$144K +$13.5K +455 +10%
AIM
399
ARK Investment Management
Florida
$140K -$55.5K -1,870 -30%
HI
400
Harbour Investments
Wisconsin
$139K +$2.76K +93 +2%
14 15
16
17 18

ETHA Hedge Fund Activity: Q3 2025 in Review

506 of the 7,619 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.