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ETHW

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.

New
Increased
Maintained
Reduced
Closed

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)

Holders
90
Holders Change
+3
Holders Change %
+3.45%
% of All Funds
1.09%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
24
Increased
37
Reduced
12
Closed
20
Calls
$15.2M
Puts
$964K
Net Calls
+$14.2M
Net Calls Change
-$202K

Top Buyers

Rank Fund Capital Flow
1
QC
Quadrature Capital
United Kingdom
+$7.88M
2
Wells Fargo
Wells Fargo
California
+$4.63M
3
Focus Partners Wealth
Focus Partners Wealth
Massachusetts
+$3.61M
4
Renaissance Technologies
Renaissance Technologies
New York
+$2.16M
5
CAMG
CWA Asset Management Group
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
Susquehanna International Group
Pennsylvania
-$7.17M
4
IMC Chicago
IMC Chicago
Illinois
-$2.28M
5
VF
Virtu Financial
New York
-$1.48M
Name Holding Trade Value Shares
Change 		Change in
Stake
DT
76
DV Trading
Illinois
$11.8K +$13.7K +554 New
ME
77
McIlrath & Eck
Washington
$10.8K – – –
HCM
78
Hollencrest Capital Management
California
$10.8K +$7.56K +305 +150%
EPG
79
Estate Planners Group
Pennsylvania
$10.6K +$12.4K +500 New
PWA
80
Physician Wealth Advisors
Utah
$10.1K – – –
US Bancorp
81
US Bancorp
Minnesota
$9.8K +$11.4K +461 New
PNC Financial Services Group
82
PNC Financial Services Group
Pennsylvania
$9.68K – – –
FFA
83
Farther Finance Advisors
California
$9.21K +$818 +33 +8%
TSMHT
84
Thurston Springer Miller Herd & Titak
Indiana
$8.93K +$10.4K +420 New
LFG
85
Larson Financial Group
Missouri
$6.38K +$991 +40 +15%
Morgan Stanley
86
Morgan Stanley
New York
$5.53K +$6.44K +260 New
WWA
87
Wealth Watch Advisors
Colorado
$4.93K -$154K -6,222 -96%
AWM
88
Abound Wealth Management
Tennessee
$4.25K +$4.96K +200 New
Group One Trading
89
Group One Trading
Illinois
$2.3K +$2.68K +108 New
BCMIO
90
Beacon Capital Management Inc (Ohio)
Ohio
$1.17K -$5.4K -218 -80%
SSA
91
Schonfeld Strategic Advisors
New York
– -$21.3M -712,700 Closed
Susquehanna International Group
92
Susquehanna International Group
Pennsylvania
– -$7.17M -289,362 Closed
HHGC
93
Hunting Hill Global Capital
New York
– -$7.34M -246,156 Closed
IMC Chicago
94
IMC Chicago
Illinois
– -$2.28M -92,196 Closed
VF
95
Virtu Financial
New York
– -$1.48M -49,502 Closed
RL
96
RPO LLC
Connecticut
– -$1.27M -42,600 Closed
CPRC
97
Consolidated Portfolio Review Corp
New York
– -$741K -24,846 Closed
EWA
98
Exit Wealth Advisors
Georgia
– -$549K -18,398 Closed
MAC
99
Mason & Associates (California)
California
– -$398K -13,345 Closed
EWA
100
Exencial Wealth Advisors
Oklahoma
– -$289K -9,700 Closed
1 2 3
4
5

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.