Bitwise Ethereum ETF
ETHW
87 hedge funds and large institutions have $123M invested in Bitwise Ethereum ETF in 2025 Q3 according to their latest regulatory filings, with 36 funds opening new positions, 33 increasing their positions, 7 reducing their positions, and 9 closing their positions.
874% more call options, than puts
Call options by funds: $16M | Put options by funds: $1.65M
371% more repeat investments, than reductions
Existing positions increased: 33 | Existing positions reduced: 7
300% more first-time investments, than exits
New positions opened: 36 | Existing positions closed: 9
45% more funds holding
Funds holding: 60 → 87 (+27)
37% more capital invested
Capital invested by funds: $90.2M → $123M (+$33.2M)
36.95% less ownership
Funds ownership: 36.95% → 0% (-37%)
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HI
HBK Investments
Dallas,
Texas
|
+$8.87M |
| 2 |
HHGC
Hunting Hill Global Capital
New York
|
+$6.92M |
| 3 |
SSA
Schonfeld Strategic Advisors
New York
|
+$5.98M |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$3.34M |
| 5 |
IMC Chicago
Chicago,
Illinois
|
+$2.59M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PC
ParaFi Capital
New York
|
-$32.9M |
| 2 |
EC
Elequin Capital
New York
|
-$8.34M |
| 3 |
PAG
Private Advisor Group
Morristown,
New Jersey
|
-$1.88M |
| 4 |
OMC
Old Mission Capital
Chicago,
Illinois
|
-$1.62M |
| 5 |
QC
Quadrature Capital
London,
United Kingdom
|
-$561K |
ETHW Hedge Fund Activity: Q3 2025 in Review
87 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in Bitwise Ethereum ETF (ETHW) for Q3 2025, worth a combined $123M — up 37% from $90.2M a quarter earlier.
Buyers outnumbered sellers: 36 funds opened new ETHW positions and 9 closed out — a net gain of 27 holders — while 33 added to existing stakes and 7 trimmed.
The largest buyer was HBK Investments, adding an estimated $8.87M. The largest seller was ParaFi Capital, exiting entirely with an estimated $32.9M sold.
- 87 institutional investors held Bitwise Ethereum ETF (ETHW) as of Q3 2025, up from 60 in Q2 2025.
- Funds reported $123M of Bitwise Ethereum ETF stock for Q3 2025, up 37% quarter-over-quarter.
- 36 funds opened new Bitwise Ethereum ETF positions in Q3 2025 and 9 closed out, a net change of +27 holders.
- The largest Bitwise Ethereum ETF buyer in Q3 2025 was HBK Investments, an estimated $8.87M added.
- The largest Bitwise Ethereum ETF seller in Q3 2025 was ParaFi Capital, an estimated $32.9M sold.
Based on aggregated 13F filings for Q3 2025.