GRAYSCALE FUNDS TRUST

Ticker: ETCO CUSIP: 38963H602 Class: ETHEREUM COVERED

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

Increased Positions (1)

MADDEN SECURITIES Corp

Value ($000) $2,576 (+136.2%) Shares 137,035 (+293.5%)

Institution	Prev Shares	Curr Shares	Change
MADDEN SECURITIES Corp	34,825	137,035	+102,210 (+293.5%)

Exited Positions (4)

OLD MISSION CAPITAL LLC

Value ($000) $641 Shares 20,473

JANE STREET GROUP, LLC

Value ($000) $499 Shares 15,939

CITADEL ADVISORS LLC

Value ($000) $280 Shares 8,946

Value ($000) $1 Shares 41

Institution	Prev Shares	Prev Value ($000)
OLD MISSION CAPITAL LLC	20,473	$641
JANE STREET GROUP, LLC	15,939	$499
CITADEL ADVISORS LLC	8,946	$280
UBS Group AG	41	$1