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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
RBC
476
Roble Belko & Company
Pennsylvania
$7K +$6.97K +235 New
HWA
477
HHM Wealth Advisors
Tennessee
$6.93K +$6.53K +220 New
Northwestern Mutual Wealth Management
478
Northwestern Mutual Wealth Management
Wisconsin
$6.84K – – –
AFG
479
Albion Financial Group
Utah
$6.78K +$6.38K +215 New
DPW
480
DiNuzzo Private Wealth
Pennsylvania
$6.56K – – –
AGWCA
481
Annis Gardner Whiting Capital Advisors
Florida
$6.55K -$1.4K -47 -18%
CJ
482
Caitlin John
Michigan
$6.3K +$5.93K +200 New
T
483
Tidemark
California
$6.24K – – –
HFM
484
Hartford Financial Management
Connecticut
$4.88K +$2.67K +90 +138%
CT
485
Clearstead Trust
Maine
$4.88K +$4.6K +155 New
HIA
486
Harbor Investment Advisory
Maryland
$3.15K – – –
POIA
487
Pin Oak Investment Advisors
Texas
$3.15K +$2.97K +100 New
SCH
488
Shengqi Capital (HK)
Hong Kong
$3.15K +$2.97K +100 New
ACM
489
Anfield Capital Management
California
$3.12K +$2.94K +99 New
CCMI
490
Creative Capital Management Investments
California
$2.9K +$2.73K +92 New
PWA
491
Physician Wealth Advisors
Utah
$2.84K – – –
PTC
492
Private Trust Company
Ohio
$2.71K – – –
TCOT
493
Trust Company of Toledo
Ohio
$2.21K +$2.08K +70 New
VWM
494
Vermillion Wealth Management
Minnesota
$2.11K +$1.99K +67 New
JP Morgan Chase
495
JP Morgan Chase
New York
$2.08K -$1.33K -45 -41%
QWM
496
Quaker Wealth Management
New Jersey
$1.95K +$1.84K +62 New
AIM
497
Anchor Investment Management
South Carolina
$1.73K +$1.63K +55 New
AssetMark Inc
498
AssetMark Inc
California
$1.51K +$1.42K +48 New
NC
499
North Capital
Utah
$1.45K +$623 +21 +84%
HFS
500
Hughes Financial Services
Virginia
$1.4K – – –
18 19
20
21 22

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.