G
Grayscale Ethereum Mini Trust
ETH • ARCX
Grayscale Ethereum Mini Trust is a publicly traded company on ARCX. As of Q3 2025, 272 institutional investors hold shares in this company, with total holdings valued at $561.8M. MILLENNIUM MANAGEMENT LLC is the largest holder with a position valued at $177.7M.
Overview
Overview of institutional ownership in ETH as of Q3 2025
All Institutions
- Institutions
- 272
- Value Held
- $561.8M
- Shares Held
- 14.3M
- Avg Position
- $2.1M
- Median Position
- $225.1K
Hedge Funds
- Hedge Funds
- 12
- Value Held
- $239.4M
- Shares Held
- 6.1M
- Avg Position
- $20.0M
- Median Position
- $1.0M
Biggest Investors
Institutions with the largest positions in ETH as of Q3 2025
| Institution | Position Value |
|---|---|
 MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy | $177.7M 0.15% of portfolio |
J JANE STREET GROUP, LLC Institution | $69.2M 0.08% of portfolio |
S Sloy Dahl & Holst, LLC RIA/Wealth | $30.5M 3.24% of portfolio |
 KALEIDOSCOPE CAPITAL LP Hedge Fund•Quant | $28.1M 8.03% of portfolio |
 ENVESTNET ASSET MANAGEMENT INC Long Only Manager | $22.2M 0.01% of portfolio |
K Kedalion Capital Management LLP Institution | $18.0M 0.68% of portfolio |
 HBK INVESTMENTS L P Hedge Fund•Multi-Strategy | $12.2M 0.20% of portfolio |
 CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $11.8M 0.01% of portfolio |
 Cresset Asset Management, LLC RIA/Wealth | $10.2M 0.04% of portfolio |
M Massar Capital Management, LP Institution | $10.0M 3.71% of portfolio |
Net Capital Flow
Institutional buying and selling activity for ETH in Q3 2025
- Traded
- +$212.5M
- Buyers
- 193
- Sellers
- 48
- Total Bought
- +$312.2M
- Total Sold
- −$99.7M
- Avg Position
- $1.9M
Biggest Buyers
| Institution | Net Bought |
|---|---|
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy | +$80.5M +2.1M shares |
J JANE STREET GROUP, LLC Institution | +$61.9M +1.6M shares |
KALEIDOSCOPE CAPITAL LP Hedge Fund•Quant | +$28.1M +717.0K shares |
K Kedalion Capital Management LLP Institution | +$18.0M +460.6K shares |
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | +$11.8M +300.0K shares |
Cresset Asset Management, LLC RIA/Wealth | +$10.2M +260.9K shares |
M Massar Capital Management, LP Institution | +$10.0M +255.0K shares |
 BECK CAPITAL MANAGEMENT, LLC RIA/Wealth | +$9.5M +242.5K shares |
 Hunting Hill Global Capital, LLC Hedge Fund•Multi-Strategy | +$7.3M +187.5K shares |
F Farringdon Capital, Ltd. Institution | +$4.0M +102.9K shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
 SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | −$30.9M −789.4K shares |
HBK INVESTMENTS L P Hedge Fund•Multi-Strategy | −$29.6M −755.0K shares |
ENVESTNET ASSET MANAGEMENT INC Long Only Manager | −$26.4M −673.0K shares |
 UBS Group AG Institution | −$2.7M −69.3K shares |
 Kestra Advisory Services, LLC RIA/Wealth | −$1.9M −48.3K shares |
O OLD MISSION CAPITAL LLC Institution | −$1.7M −44.0K shares |
 Archer Investment Management, LLC RIA/Wealth | −$1.3M −32.7K shares |
E EVOKE WEALTH, LLC RIA/Wealth | −$777.1K −32.8K shares |
R Rede Wealth, LLC RIA/Wealth | −$741.4K −31.3K shares |
G GROUP ONE TRADING, L.P. Institution | −$717.8K −30.3K shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited ETH in Q3 2025
- New Positions
- 77
- New Value
- $111.9M
- Exited Positions
- 23
- Exited Value
- $4.0M
New Positions
| Institution | Position Value |
|---|---|
KALEIDOSCOPE CAPITAL LP Hedge Fund•Quant | $28.1M 717.0K shares |
K Kedalion Capital Management LLP Institution | $18.0M 460.6K shares |
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $11.8M 300.0K shares |
M Massar Capital Management, LP Institution | $10.0M 255.0K shares |
Hunting Hill Global Capital, LLC Hedge Fund•Multi-Strategy | $7.3M 187.5K shares |
F Farringdon Capital, Ltd. Institution | $4.0M 102.9K shares |
 Reliant Wealth Planning RIA/Wealth | $4.0M 102.6K shares |
 Spahn Wealth & Retirement LLC RIA/Wealth | $2.4M 61.9K shares |
 Visionary Wealth Advisors RIA/Wealth | $1.9M 49.0K shares |
R RIVERSEDGE ADVISORS, LLC RIA/Wealth | $1.4M 36.3K shares |
Exited Positions
| Institution | Previous Position |
|---|---|
E EVOKE WEALTH, LLC RIA/Wealth | $777.1K 32.8K shares |
R Rede Wealth, LLC RIA/Wealth | $741.4K 31.3K shares |
G GROUP ONE TRADING, L.P. Institution | $717.8K 30.3K shares |
S SCOGGIN LLC Hedge Fund•Event Driven | $545.6K 23.0K shares |
 Valeo Financial Advisors, LLC RIA/Wealth | $378.2K 15.9K shares |
 IMC-Chicago, LLC RIA/Wealth | $346.5K 14.6K shares |
 Diversify Advisory Services, LLC RIA/Wealth | $210.0K 4.9K shares |
E EQ WEALTH ADVISORS, LLC RIA/Wealth | $102.8K 4.3K shares |
 Mount Yale Investment Advisors, LLC RIA/Wealth | $77.3K 3.3K shares |
 VSM Wealth Advisory, LLC RIA/Wealth | $47.0K 2.0K shares |
Options Activity
Institutions with the largest Call and Put options positions in ETH as of Q3 2025
- Call Positions
- 9
- Call Value
- $162.8M
- Put Positions
- 3
- Put Value
- $58.7M
Call Positions
| Institution | Position Value |
|---|---|
 Polar Securities Inc. Hedge Fund•Multi-Strategy | $59.9M 15.3K contracts |
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $46.4M 11.8K contracts |
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $32.5M 8.3K contracts |
J JANE STREET GROUP, LLC Institution | $17.9M 4.6K contracts |
 Vident Advisory, LLC ETF Provider | $4.8M 1.2K contracts |
 Brooklands Fund Management Ltd Hedge Fund•Multi-Strategy | $956.0K 244.0 contracts |
O OLD MISSION CAPITAL LLC Institution | $245.4K 1.2K contracts |
B Belvedere Trading LLC Institution | $7.8K 2.0 contracts |
 MAI Wealth Advisors RIA/Wealth | $3.9K - contracts |
Put Positions
| Institution | Position Value |
|---|---|
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $25.1M 6.4K contracts |
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $22.3M 5.7K contracts |
J JANE STREET GROUP, LLC Institution | $11.3M 2.9K contracts |
Most Committed Institutions
Institutions with ETH as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
KALEIDOSCOPE CAPITAL LP Hedge Fund•Quant | 8.03% $28.1M |
M Massar Capital Management, LP Institution | 3.71% $10.0M |
S Sloy Dahl & Holst, LLC RIA/Wealth | 3.24% $30.5M |
 Haven Private, LLC RIA/Wealth | 3.07% $7.0M |
Hunting Hill Global Capital, LLC Hedge Fund•Multi-Strategy | 2.77% $7.3M |
BECK CAPITAL MANAGEMENT, LLC RIA/Wealth | 2.21% $9.5M |
Spahn Wealth & Retirement LLC RIA/Wealth | 1.44% $2.4M |
Reliant Wealth Planning RIA/Wealth | 1.42% $4.0M |
Archer Investment Management, LLC RIA/Wealth | 1.40% $2.3M |
 Encompass More Asset Management RIA/Wealth | 1.11% $5.5M |
Hedge Fund Spotlight
Discover hedge funds investing in ETH
HBK INVESTMENTS L P
Hedge Fund • Multi-Strategy
Portfolio ManagerMatthew Atcheson Leffers
- Portfolio Value
- $6.0B
- Positions
- 99
- Last Reported
- Q3 2025
Sector Allocation
G
Position in Grayscale Ethereum Mini Trust
- Market Value
- $12.2M
- Shares Held
- 311.1K
- Portfolio Weight
- 0.20%
- Owned Since
- 2024-Q3
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
Software - Infrastructure Technology | $1.1B | 18.82% | |
Unknown Unknown | $455.0M | 7.54% | |
Industrial - Machinery Industrials | $425.9M | 7.06% |
