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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
BWL
501
Bogart Wealth LLC
Virginia
$977 +$920 +31 New
IWP
502
IAG Wealth Partners
Wisconsin
$977 +$920 +31 New
MLA
503
MB, Levis & Associates
Pennsylvania
$788 +$742 +25 New
SC
504
Swan Capital
Florida
$788 +$742 +25 New
LFA
505
LGT Financial Advisors
Texas
$605 +$148 +5 +36%
NMG
506
New Millennium Group
Utah
$63 – – –
WOC
507
West Oak Capital
California
$27 +$2.58K +87 New
MC
508
Maplelane Capital
New York
– -$6.2M -325,000 Closed
KF
509
Krilogy Financial
Missouri
– -$4.24M -222,165 Closed
HI
510
HBK Investments
Texas
– -$3.8M -199,020 Closed
QC
511
Quadrature Capital
United Kingdom
– -$3.46M -181,730 Closed
CCMG
512
Clark Capital Management Group
Pennsylvania
– -$2.45M -128,480 Closed
IMC Chicago
513
IMC Chicago
Illinois
– -$1M -52,685 Closed
MYIA
514
Mount Yale Investment Advisors
Colorado
– -$870K -45,632 Closed
OMC
515
Old Mission Capital
Illinois
– -$1.29M -43,317 Closed
SCA
516
Sassicaia Capital Advisers
New York
– -$707K -37,100 Closed
FF
517
Fluent Financial
Texas
– -$675K -35,374 Closed
PCM
518
Prelude Capital Management
New York
– -$589K -30,887 Closed
SC
519
Sapient Capital
Indiana
– -$471K -24,688 Closed
XT
520
XTX Topco
Cayman Islands
– -$394K -20,647 Closed
VI
521
VanderPol Investments
Michigan
– -$316K -16,554 Closed
DC
522
Diametric Capital
Massachusetts
– -$287K -15,046 Closed
PAS
523
Park Avenue Securities
New York
– -$261K -13,673 Closed
Belvedere Trading
524
Belvedere Trading
Illinois
– -$403K -13,585 Closed
GS
525
GTS Securities
New York
– -$226K -11,874 Closed
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.