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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
QC
Quadrature Capital
London,
United Kingdom
|
+$2.75M |
| 2 |
MCA
Magnolia Capital Advisors
Jackson,
Mississippi
|
+$994K |
| 3 |
IC
IEQ Capital
Foster City,
California
|
+$543K |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$479K |
| 5 |
Wealth Enhancement Advisory Services
Plymouth,
Minnesota
|
+$399K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCP
Pantera Capital Partners
San Francisco,
California
|
-$52.7M |
| 2 |
EC
Elequin Capital
New York
|
-$29.5M |
| 3 |
HI
HBK Investments
Dallas,
Texas
|
-$1.45M |
| 4 |
GWMR
GC Wealth Management RIA
Cambridge,
Massachusetts
|
-$808K |
| 5 |
Millennium Management
New York
|
-$659K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
51
UBS Group
Zurich,
Switzerland
| – | -$63.3K | -2,640 | Closed |
|
52
Osaic Holdings
Scottsdale,
Arizona
| – | -$18.7K | -780 | Closed |
|
53
CIBC Private Wealth Group
Atlanta,
Georgia
| – | -$18.2K | -775 | Closed |
|
54
Jones Financial Companies
Des Peres,
Missouri
| – | -$3K | -125 | Closed |
|
|
DRP
55
Decker Retirement Planning
Levi,
Utah
| – | -$24 | -1 | Closed |
|
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.