Grayscale Ethereum Staking ETF Shares
ETHE
301 hedge funds and large institutions have $238M invested in Grayscale Ethereum Staking ETF Shares in 2025 Q4 according to their latest regulatory filings, with 41 funds opening new positions, 65 increasing their positions, 84 reducing their positions, and 68 closing their positions.
204% more call options, than puts
Call options by funds: $70.8M | Put options by funds: $23.2M
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
10% less funds holding
Funds holding: 335 → 301 (-34)
23% less repeat investments, than reductions
Existing positions increased: 65 | Existing positions reduced: 84
31% less capital invested
Capital invested by funds: $345M → $238M (-$107M)
40% less first-time investments, than exits
New positions opened: 41 | Existing positions closed: 68
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DS
DRW Securities
Chicago,
Illinois
|
+$14.4M |
| 2 |
BCM
Barometer Capital Management
Toronto,
Ontario, Canada
|
+$3.18M |
| 3 |
HFF
Halter Ferguson Financial
Carmel,
Indiana
|
+$2.14M |
| 4 |
AC
Aristides Capital
Louisville,
Kentucky
|
+$1.28M |
| 5 |
TAM
Titleist Asset Management
San Antonio,
Texas
|
+$1.07M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$23.9M |
| 2 |
SM
Scoggin Management
New York
|
-$7.88M |
| 3 |
Simplex Trading
Chicago,
Illinois
|
-$5.75M |
| 4 |
IMC Chicago
Chicago,
Illinois
|
-$5.74M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$4.66M |
ETHE Hedge Fund Activity: Q4 2025 in Review
301 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Grayscale Ethereum Staking ETF Shares (ETHE) for Q4 2025, worth a combined $238M — down 31% from $345M a quarter earlier.
Sellers outnumbered buyers: 68 funds closed out of ETHE and 41 opened new positions — a net loss of 27 holders — while 84 trimmed existing stakes and 65 added.
The largest buyer was DRW Securities, opening a new position worth an estimated $14.4M. The largest seller was Jane Street, cutting an estimated $23.9M.
- 301 institutional investors held Grayscale Ethereum Staking ETF Shares (ETHE) as of Q4 2025, down from 335 in Q3 2025.
- Funds reported $238M of Grayscale Ethereum Staking ETF Shares stock for Q4 2025, down 31% quarter-over-quarter.
- 41 funds opened new Grayscale Ethereum Staking ETF Shares positions in Q4 2025 and 68 closed out, a net change of -27 holders.
- The largest Grayscale Ethereum Staking ETF Shares buyer in Q4 2025 was DRW Securities, an estimated $14.4M added.
- The largest Grayscale Ethereum Staking ETF Shares seller in Q4 2025 was Jane Street, an estimated $23.9M sold.
Based on aggregated 13F filings for Q4 2025.