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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
PAA
126
Peregrine Asset Advisers
Oregon
$2.14M +$2.01M +67,892 New
IPW
127
Impact Partnership Wealth
Georgia
$2.08M +$496K +16,706 +34%
MP
128
Mangrove Partners
Connecticut
$2.08M +$1.96M +66,009 New
CAIMH
129
Central Asset Investments & Management Holdings
Hong Kong
$2.02M +$131K +4,401 +7%
SCP
130
Silverleafe Capital Partners
Tennessee
$2.01M +$1.89M +63,714 New
MWM
131
Maridea Wealth Management
New York
$1.98M +$1.29M +43,373 +195%
GDCM
132
Galaxy Digital Capital Management
New York
$1.98M +$1.86M +62,699 New
TIM
133
Total Investment Management
Arizona
$1.96M +$197K +6,623 +12%
TCA
134
Transcend Capital Advisors
New Jersey
$1.94M +$1.83M +61,538 New
Wealth Enhancement Advisory Services
135
Wealth Enhancement Advisory Services
Minnesota
$1.92M +$642K +21,652 +62%
LSIA
136
LaSalle St. Investment Advisors
Illinois
$1.89M -$1.19M -40,000 -40%
CAPTRUST Financial Advisors
137
CAPTRUST Financial Advisors
North Carolina
$1.8M +$1.11M +37,494 +190%
FCH
138
Freestone Capital Holdings
Washington
$1.77M +$576K +19,401 +53%
WANY
139
Wealthspire Advisors (New York)
New York
$1.77M +$1.11M +37,479 +201%
CAMG
140
CWA Asset Management Group
Florida
$1.76M +$1.66M +55,975 New
AWA
141
Arete Wealth Advisors
Illinois
$1.76M +$1.65M +55,597 New
CV
142
Counterweight Ventures
North Carolina
$1.75M +$1.65M +55,668 New
AFWM
143
Abich Financial Wealth Management
Virginia
$1.75M +$1.65M +55,506 New
TC
144
Torno Capital
Massachusetts
$1.73M +$1.63M +55,000 New
RG
145
Rakuten Group
Japan
$1.68M +$1.58M +53,351 New
MCP
146
Militia Capital Partners
Nevada
$1.68M +$1.58M +53,300 New
Carson Wealth (CWM LLC)
147
Carson Wealth (CWM LLC)
Nebraska
$1.65M +$524K +17,675 +51%
IP
148
Investment Partners
Ohio
$1.65M +$1.56M +52,425 New
MA
149
Mutual Advisors
Nebraska
$1.65M +$487K +16,410 +41%
AAS
150
Asset Allocation Strategies
Michigan
$1.63M +$1.06M +35,724 +221%
4 5
6
7 8

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.