iShares Ethereum Trust ETF
ETHA
506 hedge funds and large institutions have $3.4B invested in iShares Ethereum Trust ETF in 2025 Q4 according to their latest regulatory filings, with 145 funds opening new positions, 177 increasing their positions, 117 reducing their positions, and 133 closing their positions.
51% more repeat investments, than reductions
Existing positions increased: 177 | Existing positions reduced: 117
19% more call options, than puts
Call options by funds: $1.09B | Put options by funds: $916M
9% more first-time investments, than exits
New positions opened: 145 | Existing positions closed: 133
0% less funds holding
Funds holding: 508 → 506 (-2)
40% less funds holding in top 10
Funds holding in top 10: 30 → 18 (-12)
48% less capital invested
Capital invested by funds: $6.5B → $3.4B (-$3.1B)
71.31% less ownership
Funds ownership: 269.17% → 197.86% (-71%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$166M |
| 2 |
HMC
Harvard Management Company
Boston,
Massachusetts
|
+$101M |
| 3 |
Citadel Advisors
Miami,
Florida
|
+$77.9M |
| 4 |
Macquarie Group
Sydney, NSW 2000,
Australia
|
+$61.4M |
| 5 |
MG
Marex Group
London,
|
+$41.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$414M |
| 2 |
Goldman Sachs
New York
|
-$390M |
| 3 |
D.E. Shaw & Co
New York
|
-$300M |
| 4 |
Millennium Management
New York
|
-$231M |
| 5 |
FCM
Farallon Capital Management
San Francisco,
California
|
-$156M |
ETHA Hedge Fund Activity: Q4 2025 in Review
506 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in iShares Ethereum Trust ETF (ETHA) for Q4 2025, worth a combined $3.4B — down 48% from $6.5B a quarter earlier.
Buyers outnumbered sellers: 145 funds opened new ETHA positions and 133 closed out — a net gain of 12 holders — while 177 added to existing stakes and 117 trimmed.
The largest buyer was Susquehanna International Group, adding an estimated $166M. The largest seller was Jane Street, cutting an estimated $414M.
- 506 institutional investors held iShares Ethereum Trust ETF (ETHA) as of Q4 2025, down from 508 in Q3 2025.
- Funds reported $3.4B of iShares Ethereum Trust ETF stock for Q4 2025, down 48% quarter-over-quarter.
- 145 funds opened new iShares Ethereum Trust ETF positions in Q4 2025 and 133 closed out, a net change of +12 holders.
- The largest iShares Ethereum Trust ETF buyer in Q4 2025 was Susquehanna International Group, an estimated $166M added.
- The largest iShares Ethereum Trust ETF seller in Q4 2025 was Jane Street, an estimated $414M sold.
Based on aggregated 13F filings for Q4 2025.