Q4 2025 Ethereum ETF experiences significant liquidation, with Harvard Endowment Fund as the largest new buyer this quarter

Mars Finance reports that, according to Bloomberg ETF analyst James Seyffart, institutions have collectively reduced their holdings of Ethereum spot ETFs. Hedge funds have sold off heavily due to declining returns from basis trading; traditional and long-term investors are increasing their positions against the trend, with Harvard Endowment Fund being the largest new buyer this season.

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