Stock ownership · SEC 13F · Q4 2025

GRAYSCALE ETHEREUM TRUST

A breakdown of GRAYSCALE ETHEREUM TRUST's institutional base (CUSIP 389638107): the holders, the concentration among them, and what changed last quarter.

$2.4M
Reported value
3
Institutions
100%
Top-5 share

The verdict

$2.4M of GRAYSCALE ETHEREUM TRUST is reported by 3 institutions as of Q4 2025; ownership is held overwhelmingly by a small core of institutions.

3
institutions hold it
$2.4M
reported 13F value
100%
held by top 5

Based on long positions reported to the SEC as of Q4 2025; 13F omits shorts, options and non-US holdings.

How 13F ownership is computed · All tracked stocks · Concentration rankings

SEC Form 13F-HR ownership desk

CUSIP 389638107 · Q4 2025 $2M reported

VALUE-TRACE · HOLDERS-FOCUS · CONC-DOM · PHOTO-UNK · ACTIVITY-MID · BOOK-MID

  • VALUE-TRACE $2.4M
  • HOLDERS-FOCUS 3 filers
  • CONC-DOM 100% top-5
  • PHOTO-UNK No peer
  • ACTIVITY-MID 3 new
  • BOOK-MID 7Q history

Read with: Ownership concentration guide - GRAYSCALE ETHEREUM TRUST's top-five holders account for 100% of reported value — read concentration before treating any single filer as a signal.

Largest institutional holders of GRAYSCALE ETHEREUM TRUST
  1. 1
    TRU INDEPENDENCE ASSET MANAGEMENT 2, LLC $1.2M
  2. 2
    Aristides Capital LLC $1.1M
  3. 3
    Strategic Investment Solutions, Inc. /IL $13K

Top 3 reported holders by value · Q4 2025

Institutional ownership over time

The number of institutions reporting a GRAYSCALE ETHEREUM TRUST position has risen from 1 to 3 over the last 7 quarters of 13F filings.

0246810 Q1'24Q3'24Q4'24Q1'25Q2'25Q3'25Q4'25 3
Distinct 13F filers holding GRAYSCALE ETHEREUM TRUST, by quarter

Top Institutional Holders

# Institution Shares Value Share of reported
1 TRU INDEPENDENCE ASSET MANAGEMENT 2, LLC 50,917 $1.2M 52.8%
2 Aristides Capital LLC 44,985 $1.1M 46.6%
3 Strategic Investment Solutions, Inc. /IL 529 $13K 0.5%

Investment Discretion

SEC Form 13F requires each institutional filer to report whether it exercises sole or shared discretion over a position. Among GRAYSCALE ETHEREUM TRUST's reported holders for Q4 2025, by reported value:

Sole discretion (SOLE)
100.0%

Latest Quarter Activity · Q4 2025

New positions (3)

TRU INDEPENDENCE ASSET MANAGEMENT 2, LLC $1.2M
Aristides Capital LLC $1.1M
Strategic Investment Solutions, Inc. /IL $13K

Complete exits (5)

CIBC Private Wealth Group LLC exited
Strategic Advocates LLC exited
Watts Gwilliam & Co., LLC exited
Asset Dedication, LLC exited
JPMORGAN CHASE & CO (JPM, AMJB, VYLD, JPM-PC, JPM-PD, JPM-PJ, JPM-PK, JPM-PL, JPM-PM) exited

Frequently Asked Questions

How many institutions hold GRAYSCALE ETHEREUM TRUST?▼
GRAYSCALE ETHEREUM TRUST is held by 3 institutional investors per the latest SEC Form 13F filings as of Q4 2025.
What is the total institutional value of GRAYSCALE ETHEREUM TRUST?▼
Institutions report $2.4M of GRAYSCALE ETHEREUM TRUST as of Q4 2025.
How concentrated is ownership of GRAYSCALE ETHEREUM TRUST?▼
The top five institutional holders account for 100% of the reported institutional value in GRAYSCALE ETHEREUM TRUST, making ownership held overwhelmingly by a small core of institutions.
Who is the largest institutional holder of GRAYSCALE ETHEREUM TRUST?▼
TRU INDEPENDENCE ASSET MANAGEMENT 2, LLC is the largest reported holder of GRAYSCALE ETHEREUM TRUST with $1.2M across 50,917 shares as of Q4 2025.

Source: U.S. Securities and Exchange Commission (SEC) - EDGAR Form 13F-HR institutional holdings filings · Q4 2025 13F-HR discloses long US-listed equity positions of managers with $100M+ qualifying assets, filed within 45 days of period end. Short positions and most derivatives are not disclosed.

PlainFundData is rendered directly from SEC EDGAR Form 13F-HR institutional holdings filings, no number is typed in by an editor. Holder lists, concentration, and reported value on this page are aggregated live from those 13F-HR extracts. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of 2026-05-16.