Bitwise Ethereum ETF
ETHW
90 hedge funds and large institutions have $77.2M invested in Bitwise Ethereum ETF in 2025 Q4 according to their latest regulatory filings, with 24 funds opening new positions, 37 increasing their positions, 12 reducing their positions, and 20 closing their positions.
1,473% more call options, than puts
Call options by funds: $15.2M | Put options by funds: $964K
208% more repeat investments, than reductions
Existing positions increased: 37 | Existing positions reduced: 12
22.63% more ownership
Funds ownership: 0% → 22.63% (+23%)
20% more first-time investments, than exits
New positions opened: 24 | Existing positions closed: 20
3% more funds holding
Funds holding: 87 → 90 (+3)
37% less capital invested
Capital invested by funds: $123M → $77.2M (-$46.2M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
QC
Quadrature Capital
London,
United Kingdom
|
+$7.88M |
| 2 |
Wells Fargo
San Francisco,
California
|
+$4.63M |
| 3 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$3.61M |
| 4 |
Renaissance Technologies
New York
|
+$2.16M |
| 5 |
CAMG
CWA Asset Management Group
Naples,
Florida
|
+$1.41M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SSA
Schonfeld Strategic Advisors
New York
|
-$21.3M |
| 2 |
HHGC
Hunting Hill Global Capital
New York
|
-$7.34M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$7.17M |
| 4 |
IMC Chicago
Chicago,
Illinois
|
-$2.28M |
| 5 |
VF
Virtu Financial
New York
|
-$1.48M |
ETHW Hedge Fund Activity: Q4 2025 in Review
90 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Bitwise Ethereum ETF (ETHW) for Q4 2025, worth a combined $77.2M — down 37% from $123M a quarter earlier.
Buyers outnumbered sellers: 24 funds opened new ETHW positions and 20 closed out — a net gain of 4 holders — while 37 added to existing stakes and 12 trimmed.
The largest buyer was Quadrature Capital, opening a new position worth an estimated $7.88M. The largest seller was Schonfeld Strategic Advisors, exiting entirely with an estimated $21.3M sold.
- 90 institutional investors held Bitwise Ethereum ETF (ETHW) as of Q4 2025, up from 87 in Q3 2025.
- Funds reported $77.2M of Bitwise Ethereum ETF stock for Q4 2025, down 37% quarter-over-quarter.
- 24 funds opened new Bitwise Ethereum ETF positions in Q4 2025 and 20 closed out, a net change of +4 holders.
- The largest Bitwise Ethereum ETF buyer in Q4 2025 was Quadrature Capital, an estimated $7.88M added.
- The largest Bitwise Ethereum ETF seller in Q4 2025 was Schonfeld Strategic Advisors, an estimated $21.3M sold.
Based on aggregated 13F filings for Q4 2025.