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ETHE

Grayscale Ethereum Staking ETF Shares
ETHE

335 hedge funds and large institutions have $345M invested in Grayscale Ethereum Staking ETF Shares in 2025 Q3 according to their latest regulatory filings, with 85 funds opening new positions, 62 increasing their positions, 90 reducing their positions, and 32 closing their positions.

New
Increased
Maintained
Reduced
Closed

166% more first-time investments, than exits

New positions opened: 85 | Existing positions closed: 32

122% more call options, than puts

Call options by funds: $150M | Put options by funds: $67.5M

106% more capital invested

Capital invested by funds: $167M → $345M (+$178M)

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

16% more funds holding

Funds holding: 288 → 335 (+47)

5.82% less ownership

Funds ownership: 5.82% → 0% (-5.8%)

31% less repeat investments, than reductions

Existing positions increased: 62 | Existing positions reduced: 90

Holders
335
Holders Change
+47
Holders Change %
+16.32%
% of All Funds
4.4%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.03%
New
85
Increased
62
Reduced
90
Closed
32
Calls
$150M
Puts
$67.5M
Net Calls
+$82.3M
Net Calls Change
+$70.7M

Top Buyers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
+$24M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$12.5M
3
IMC Chicago
IMC Chicago
Illinois
+$6.12M
4
TAM
Titleist Asset Management
Texas
+$5.43M
5
JF
Jump Financial
Illinois
+$5.12M

Top Sellers

Rank Fund Capital Flow
1
Citadel Advisors
Citadel Advisors
Florida
-$6.75M
2
Wealthfront Advisers
Wealthfront Advisers
California
-$4.59M
3
SG
StoneX Group
New York
-$3.5M
4
RBC
Rye Brook Capital
Connecticut
-$3.42M
5
Group One Trading
Group One Trading
Illinois
-$1.27M
Name Holding Trade Value Shares
Change 		Change in
Stake
VCM
201
Viewpoint Capital Management
Washington
$240K +$227K +7,000 New
BTI
202
Blue Trust Inc
Georgia
$239K – – –
CCM
203
Condor Capital Management
New Jersey
$238K +$225K +6,956 New
Osaic Holdings
204
Osaic Holdings
Arizona
$238K +$52.8K +1,631 +31%
VCM
205
Vivaldi Capital Management
Illinois
$237K +$224K +6,921 New
RMC
206
Ring Mountain Capital
California
$237K – – –
VCP
207
Verus Capital Partners
Arizona
$237K +$224K +6,907 New
Pathstone Holdings
208
Pathstone Holdings
New Jersey
$236K +$223K +6,891 New
TAM
209
TCP Asset Management
Ohio
$235K +$222K +6,850 New
HCM
210
Horrell Capital Management
Arkansas
$232K – – –
C
211
Certuity
Florida
$231K +$218K +6,749 New
CCC
212
Compass Capital Corp
Massachusetts
$227K -$24.8K -767 -9%
SJGA
213
Stephen J. Garry & Associates
New York
$222K +$209K +6,469 New
BOSSRA
214
B.O.S.S. Retirement Advisors
Utah
$220K +$208K +6,430 New
GSEP
215
Golden State Equity Partners
California
$218K +$206K +6,362 New
ACMA
216
Arbor Capital Management (Alaska)
Alaska
$218K +$203K +6,279 New
FM
217
Family Management
New York
$216K +$204K +6,316 New
AWM
218
Avaii Wealth Management
Wisconsin
$210K -$244K -7,540 -55%
BWP
219
Bernardo Wealth Planning
Pennsylvania
$209K +$197K +6,100 New
CWM
220
Concentrum Wealth Management
California
$208K +$196K +6,070 New
SWP
221
Stratos Wealth Partners
Ohio
$204K +$193K +5,959 New
M
222
MYeCFO
California
$202K +$191K +5,900 New
Carson Wealth (CWM LLC)
223
Carson Wealth (CWM LLC)
Nebraska
$202K +$61.4K +1,898 +47%
RI
224
Rinkey Investments
California
$201K +$166K +5,135 New
WQ
225
Wealth Quarterback
New Jersey
$200K +$189K +5,842 New
7 8
9
10 11

ETHE Hedge Fund Activity: Q3 2025 in Review

335 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Grayscale Ethereum Staking ETF Shares (ETHE) for Q3 2025, worth a combined $345M — up 106% from $167M a quarter earlier.

Buyers outnumbered sellers: 85 funds opened new ETHE positions and 32 closed out — a net gain of 53 holders — while 62 added to existing stakes and 90 trimmed.

The largest buyer was Jane Street, adding an estimated $24M. The largest seller was Citadel Advisors, exiting entirely with an estimated $6.75M sold.

  • 335 institutional investors held Grayscale Ethereum Staking ETF Shares (ETHE) as of Q3 2025, up from 288 in Q2 2025.
  • Funds reported $345M of Grayscale Ethereum Staking ETF Shares stock for Q3 2025, up 106% quarter-over-quarter.
  • 85 funds opened new Grayscale Ethereum Staking ETF Shares positions in Q3 2025 and 32 closed out, a net change of +53 holders.
  • The largest Grayscale Ethereum Staking ETF Shares buyer in Q3 2025 was Jane Street, an estimated $24M added.
  • The largest Grayscale Ethereum Staking ETF Shares seller in Q3 2025 was Citadel Advisors, an estimated $6.75M sold.

Based on aggregated 13F filings for Q3 2025.