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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
NL
401
NVWM LLC
Pennsylvania
$133K +$125K +4,206 New
SA
402
Strategic Advocates
Utah
$132K +$125K +4,200 New
TIM
403
Tortoise Investment Management
New York
$126K – – –
FIA
404
FNY Investment Advisers
New York
$126K -$246K -8,289 -67%
EWA
405
EverSource Wealth Advisors
Alabama
$122K +$113K +3,795 +5,750%
MAM
406
Morse Asset Management
Connecticut
$117K +$110K +3,700 New
PWM
407
Proathlete Wealth Management
Florida
$116K +$59.5K +2,005 +120%
WWM
408
Wolff Wiese Magana
California
$115K +$70.6K +2,379 +186%
DJSG
409
D.J. St. Germain
Massachusetts
$112K +$105K +3,550 New
SIC
410
Salem Investment Counselors
North Carolina
$106K +$100K +3,375 New
NRG
411
Nemes Rush Group
Michigan
$106K +$99.5K +3,352 New
BCWM
412
Ball & Co Wealth Management
Tennessee
$104K +$98.4K +3,317 New
AWM
413
Accredited Wealth Management
Kentucky
$102K +$529K +17,844 New
RFA
414
Reyes Financial Architecture
California
$99.2K +$93.4K +3,148 New
MWPCG
415
Measured Wealth Private Client Group
New Hampshire
$95.8K +$90.2K +3,040 New
RWPA
416
Richard W. Paul & Associates
Michigan
$93K -$8.07K -272 -8%
NS
417
NBC Securities
Alabama
$92.2K +$75.8K +2,556 +691%
AF
418
Advisornet Financial
Minnesota
$90.4K +$85.2K +2,870 New
FIM
419
FWL Investment Management
Texas
$88.2K +$83.1K +2,800 New
CIBC Private Wealth Group
420
CIBC Private Wealth Group
Georgia
$82.5K +$60.8K +2,048 +359%
SWM
421
Spire Wealth Management
Virginia
$70.8K +$19.4K +655 +41%
BSB
422
Bangor Savings Bank
Maine
$70.1K +$66K +2,225 New
WT
423
Whittier Trust
California
$66.8K – – –
SIC
424
SJS Investment Consulting
Ohio
$66.7K +$51.2K +1,727 +444%
SFFS
425
Stonehage Fleming Financial Services
Jersey
$64.1K +$23.8K +801 +65%
15 16
17
18 19

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.