The approval of spot Ethereum exchange-traded funds (ETFs) marked a significant milestone for the digital asset ecosystem, following closely on the heels of their Bitcoin counterparts. This move has unlocked a new avenue for institutional capital to flow into the world's second-largest cryptocurrency.
A detailed analysis of recent 13F filings—quarterly reports mandated by the U.S. Securities and Exchange Commission (SEC) that disclose institutional holdings—reveals a growing and diverse interest in Ethereum ETFs. These documents offer a clear window into how hedge funds, wealth advisors, and asset managers are incorporating ETH into their portfolios.
Understanding 13F Filings and Their Importance
A 13F filing is a mandatory quarterly report for institutional investment managers overseeing at least $100 million in assets. It provides a transparent snapshot of their long positions in U.S. equities and, increasingly, in crypto-based ETFs.
These filings are crucial for investors and analysts. They offer insights into the strategies of major financial players, revealing trends in asset allocation and risk appetite. For the crypto market, they serve as a powerful indicator of institutional legitimacy and adoption.
Comprehensive List of Ethereum ETF Holders
The following table compiles data from 13F filings submitted through mid-May 2025, showcasing a wide spectrum of investment firms that have reported holdings in various Ethereum ETFs.
| Holder’s Name | Reported Value (USD) |
|---|---|
| Addison Capital Co | 270,000 |
| AdvisorNet Financial, Inc | 181,000 |
| Asset Dedication, LLC | 74,000 |
| Atticus Wealth Management, LLC | 24,000 |
| Bfsg, LLC | 51,000 |
| Brookstone Capital Management | 310,000 |
| Centerpoint Advisors, LLC | 16,000 |
| Claro Advisors LLC | 600,000 |
| Creative Planning | 160,000 |
| CRA Financial Services, LLC | 67,000 |
| Cwm, LLC | 160,000 |
| Dynamic Advisor Solutions LLC | 27,000 |
| Enzi Wealth | 47,000 |
| Fiduciary Alliance LLC | 681,000 |
| FinTrust Capital Advisors, LLC | 34,000 |
| Financial Perspectives, Inc | 60,000 |
| GoalFusion Wealth Management, LLC | 80,000 |
| Global Retirement Partners, LLC | 1,300,000 |
| Hantz Financial Services, Inc. | 16,000 |
| HighMark Wealth Management LLC | 12,000 |
| Horizon Kinetics Asset Management LLC | 817,000 |
| Howard Financial Services, Ltd. | 29,000 |
| JBR Co Financial Management Inc | 31,000 |
| Johnson & White Wealth Management, LLC | 61,000 |
| KINETICS PORTFOLIOS TRUST – Kinetics Global Portfolio | 105,600 |
| LexAurum Advisors, LLC | 85,000 |
| LifePro Asset Management | 3,100,000 |
| MADDEN SECURITIES Corp | 40,000 |
| Mather Group, LLC | 58,000 |
| Modus Advisors, LLC | 430,000 |
| Moisand Fitzgerald Tamayo, LLC | 10,000 |
| Morton Capital Management LLC/CA | 54,000 |
| ORG Partners LLC | 64,000 |
| Pachira Investments Inc. | 510,000 |
| Perigon Wealth Management, LLC | 67,000 |
| Proequities, Inc. | 31,000 |
| Quattro Financial Advisors LLC | 280,000 |
| Requisite Capital Management, LLC | 1,600,000 |
| Richard W. Paul & Associates, LLC | 1,740,000 |
| Seacrest Wealth Management, LLC | 70,000 |
| Simplicity Wealth, LLC | 123,000 |
| SJS Investment Consulting Inc. | 157,000 |
| Sloy Dahl & Holst, LLC | 12,800,000 |
| Smith Anglin Financial, LLC | 67,000 |
| SOA Wealth Advisors, LLC. | 19,500 |
| Sound Income Strategies, LLC | 16,000 |
| Strategic Advocates LLC | 120,000 |
| Strong Tower Advisory Services | 301,000 |
| Tamar Securities, LLC | 59,000 |
| Templeton Global Income Fund | 315,000 |
| Tradition Wealth Management, LLC | 142,000 |
| Valeo Financial Advisors, LLC | 47,000 |
| VisionPoint Advisory Group, LLC | 52,000 |
| VitalStone Financial, LLC | 24,000 |
| Voya Prime Rate Trust | 13,501,000 |
| Wedmont Private Capital | 40,000 |
| Wolff Wiese Magana LLC | 19,000 |
| Zrc Wealth Management, LLC | 34,000 |
*Please note: Some firms that previously reported ETH ETF purchases show a value of $0 in this data, indicating the positions were likely sold before the reporting deadline.
Key Takeaways from the Data
The data reveals several important trends. While many holdings are in the low to mid six-figures, a number of institutions have made multimillion-dollar commitments. Notably, firms like Voya Prime Rate Trust and Sloy Dahl & Holst, LLC stand out with holdings exceeding $12 million, signaling very strong conviction.
The diversity of holders is also telling. The list includes everything from small independent wealth managers to large asset management trusts, demonstrating that interest in Ethereum is not confined to a single type of investor but is broadening across the entire financial landscape.
Analyzing the Ethereum ETF Market Flow
Since their launch, Ethereum ETFs have experienced significant capital movement. As of early June 2025, total net inflows for these funds reached approximately $3.30 billion. This figure, however, is shaped by a major market dynamic: substantial outflows from the Grayscale Ethereum Trust (ETHE) as investors likely rotated into newer, lower-fee ETF options.
This churn is typical for a new asset class finding its footing in traditional markets. Initial volatility often gives way to more stable, long-term growth as the products mature and investor education improves. For a deeper look at current market movements and asset performance, you can explore more strategies available to modern investors.
Why Institutions Are Investing in Ethereum ETFs
Institutional adoption is driven by several key factors that make Ethereum ETFs an attractive proposition.
Portfolio Diversification
Cryptocurrencies, particularly Ethereum, have shown a historical low correlation to traditional asset classes like stocks and bonds. This makes them an effective tool for diversification, potentially reducing overall portfolio risk and improving risk-adjusted returns.
Access to Technological Growth
Ethereum is more than just a currency; it's the foundational layer for a vast ecosystem of decentralized applications (dApps), decentralized finance (DeFi), and non-fungible tokens (NFTs). Investing in an ETH ETF allows institutions to gain exposure to the growth of this entire technological stack without the complexities of direct ownership.
Regulatory Clarity and Ease of Access
The ETF structure provides a familiar, regulated, and secure vehicle for institutions to gain crypto exposure. It eliminates the hurdles of custody, security, and accounting associated with holding the underlying digital assets directly, making allocation decisions much simpler for compliance departments.
Frequently Asked Questions
What is a 13F filing?
A 13F is a quarterly report filed with the SEC by institutional investment managers that oversee $100 million or more in assets. It discloses their equity holdings, providing the public with a view into what major funds are buying and selling.
Why do some firms show a $0 value for their ETH ETF holding?
A value of $0 indicates that the firm reported owning the ETF in a previous quarter but has since sold the entire position before the current reporting period. The filing still notes the ticker for transparency, but its value is listed as zero.
How does investing in an Ethereum ETF differ from buying ETH directly?
An ETF is a traditional stock that tracks the price of Ethereum. It trades on a regular stock exchange through a brokerage account. This means investors don’t have to deal with crypto exchanges, digital wallets, or private keys, but they also do not directly own the underlying ETH.
Are Ethereum ETFs a good indicator of institutional crypto adoption?
Yes, absolutely. These filings provide tangible, auditable proof that established financial institutions are moving capital into the crypto space. This lends credibility to the asset class and demonstrates a shift in perception from a speculative niche to a legitimate portfolio component.
What was the impact of Grayscale's outflows on the market?
Grayscale's trust converted to an ETF with relatively high fees. This led to significant outflows as investors moved to newer, cheaper ETF options. This initial selling pressure created a headwind for the price, but the process is seen as a healthy maturation of the market as capital redistributes to more efficient products.
Should retail investors follow institutional 13F moves?
While 13Fs offer valuable insight, they are a lagging indicator, reporting holdings 45 days after the quarter ends. Retail investors should use them to understand broader trends rather than for immediate tactical trades. For those looking to stay ahead of the curve, get advanced methods for tracking real-time market sentiment and data.