This Investor Dumped a $3 Million Ethereum ETF, but Added to a Bitcoin Position Last Quarter

Core Insights - Marathon Asset Management has sold its entire stake in the iShares Ethereum Trust ETF (NASDAQ:ETHA), amounting to an estimated transaction value of $2.68 million [1][2]. ETF Overview - The iShares Ethereum Trust ETF has an Assets Under Management (AUM) of $6 billion and was priced at $15.59 as of the last report [4][6]. - Over the past year, the ETF's price has decreased by approximately 4%, underperforming the S&P 500, which gained around 16% during the same period [8][10]. Transaction Implications - The sale of 85,000 shares resulted in a net position change of $2.68 million, with Marathon reporting zero shares held at the end of the quarter [2][8]. - The ETHA position previously constituted 3.6% of Marathon's assets in the prior quarter, indicating a strategic shift in asset allocation [8][11]. Remaining Holdings - Post-transaction, Marathon still holds approximately $2.2 million in a bitcoin ETF position, having increased its holdings by about 22,000 shares, suggesting a focus on assets with stronger institutional demand [12].