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ETHW

Bitwise Ethereum ETF
ETHW

46 hedge funds and large institutions have $56.3M invested in Bitwise Ethereum ETF in 2025 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 16 increasing their positions, 7 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

129% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 7

33% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 9

5% more funds holding

Funds holding: 44 → 46 (+2)

17.67% less ownership

Funds ownership: 50.07% → 32.4% (-18%)

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

72% less capital invested

Capital invested by funds: $203M → $56.3M (-$146M)

Holders
46
Holders Change
+2
Holders Change %
+4.55%
% of All Funds
0.62%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.03%
New
12
Increased
16
Reduced
7
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
QC
Quadrature Capital
United Kingdom
+$2.75M
2
MCA
Magnolia Capital Advisors
Mississippi
+$994K
3
IC
IEQ Capital
California
+$543K
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$479K
5
Wealth Enhancement Advisory Services
Wealth Enhancement Advisory Services
Minnesota
+$399K

Top Sellers

Rank Fund Capital Flow
1
PCP
Pantera Capital Partners
California
-$52.7M
2
EC
Elequin Capital
New York
-$29.5M
3
HI
HBK Investments
Texas
-$1.45M
4
GWMR
GC Wealth Management RIA
Massachusetts
-$808K
5
Millennium Management
Millennium Management
New York
-$659K
Name Holding Trade Value Shares
Change 		Change in
Stake
KP
26
Keel Point
Alabama
$158K +$227K +12,043 New
OC
27
OxenFree Capital
Florida
$157K +$44.3K +2,347 +20%
CCA
28
Clearwater Capital Advisors
Illinois
$146K +$10.2K +539 +5%
BCM
29
Brookstone Capital Management
Illinois
$142K +$204K +10,800 New
SA
30
Sanctuary Advisors
Indiana
$138K +$198K +10,488 New
CAI
31
Capital Advisors Inc
Oklahoma
$136K – – –
MGIA
32
Moneta Group Investment Advisors
Missouri
$132K – – –
RIL
33
Rothschild Investment LLC
Illinois
$118K – – –
MCM
34
MAI Capital Management
Ohio
$28K – – –
EC
35
Elequin Capital
New York
$26.6K -$29.5M -1,559,760 -100%
RJA
36
Ross\Johnson & Associates
Minnesota
$19.7K – – –
BHWM
37
Beaird Harris Wealth Management
Texas
$14K -$36.7K -1,946 -65%
PWAM
38
Private Wealth Asset Management
Iowa
$13.1K +$18.9K +1,000 New
Carson Wealth (CWM LLC)
39
Carson Wealth (CWM LLC)
Nebraska
$10K +$10.4K +549 +250%
JP Morgan Chase
40
JP Morgan Chase
New York
$10K +$14.4K +762 New
FFA
41
Farther Finance Advisors
California
$9.31K – – –
TRCT
42
Tower Research Capital (TRC)
New York
$5.9K +$8.5K +450 New
CIA
43
Cape Investment Advisory
Georgia
$5.81K – – –
AAP
44
Arax Advisory Partners
Colorado
$5.71K +$8.21K +435 New
HCM
45
Hollencrest Capital Management
California
$2.66K – – –
FFWM
46
Future Financial Wealth Management
Ohio
$1.31K +$1.89K +100 New
GWMR
47
GC Wealth Management RIA
Massachusetts
– -$808K -33,710 Closed
BWP
48
Balboa Wealth Partners
Arizona
– -$243K -10,156 Closed
AWA
49
Arete Wealth Advisors
Illinois
– -$233K -9,737 Closed
CW
50
CreativeOne Wealth
Kansas
– -$206K -8,613 Closed
1
2
3

ETHW Hedge Fund Activity: Q1 2025 in Review

46 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Bitwise Ethereum ETF (ETHW) for Q1 2025, worth a combined $56.3M — down 72% from $203M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new ETHW positions and 9 closed out — a net gain of 3 holders — while 16 added to existing stakes and 7 trimmed.

The largest buyer was Quadrature Capital, opening a new position worth an estimated $2.75M. The largest seller was Pantera Capital Partners, cutting an estimated $52.7M.

  • 46 institutional investors held Bitwise Ethereum ETF (ETHW) as of Q1 2025, up from 44 in Q4 2024.
  • Funds reported $56.3M of Bitwise Ethereum ETF stock for Q1 2025, down 72% quarter-over-quarter.
  • 12 funds opened new Bitwise Ethereum ETF positions in Q1 2025 and 9 closed out, a net change of +3 holders.
  • The largest Bitwise Ethereum ETF buyer in Q1 2025 was Quadrature Capital, an estimated $2.75M added.
  • The largest Bitwise Ethereum ETF seller in Q1 2025 was Pantera Capital Partners, an estimated $52.7M sold.

Based on aggregated 13F filings for Q1 2025.