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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
KHCM
201
Kirtland Hills Capital Management
Ohio
$816K +$769K +25,906 New
OPL
202
Orland Properties Ltd
British Virgin Islands
$812K +$765K +25,780 New
TA
203
Tactive Advisors
Florida
$791K +$745K +25,110 New
MI
204
MMCAP International
Cayman Islands
$788K +$742K +25,000 New
Truist Financial
205
Truist Financial
North Carolina
$786K +$121K +4,072 +20%
STA
206
Summit Trail Advisors
New York
$784K +$739K +24,894 New
BCM
207
Brookstone Capital Management
Illinois
$774K +$185K +6,252 +34%
BBHC
208
Brown Brothers Harriman & Co
New York
$768K +$53.6K +1,805 +8%
JGC
209
J. Goldman & Co
New York
$756K -$1.74M -58,502 -71%
MFG
210
Magnus Financial Group
New York
$751K +$707K +23,838 New
SG
211
StoneX Group
New York
$744K +$701K +23,610 New
MGIA
212
Moneta Group Investment Advisors
Missouri
$733K +$690K +23,271 New
ST
213
Smithfield Trust
Pennsylvania
$733K +$629K +21,183 +994%
JIC
214
Joel Isaacson & Co
New York
$732K +$87.5K +2,949 +15%
TF
215
Trek Financial
Arizona
$727K +$373K +12,564 +120%
LAM
216
L2 Asset Management
Massachusetts
$721K -$30 -1 -0%
FIG
217
FSA Investment Group
Florida
$705K +$638K +21,506 New
SMA
218
Sage Mountain Advisors
Georgia
$701K +$660K +22,246 New
Raymond James Financial
219
Raymond James Financial
Florida
$695K +$257K +8,667 +65%
GKWIM
220
Gerber Kawasaki Wealth & Investment Management
California
$686K +$646K +21,786 New
WIA
221
World Investment Advisors
California
$684K +$644K +21,699 New
PNC Financial Services Group
222
PNC Financial Services Group
Pennsylvania
$673K +$597K +20,136 +1,650%
MOS
223
MGO One Seven
Ohio
$660K -$113K -3,794 -15%
CC
224
Copperleaf Capital
North Carolina
$648K +$610K +20,565 New
PA
225
Parallel Advisors
California
$639K +$175K +5,912 +41%
7 8
9
10 11

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.