Marathon Asset Management disclosed a substantial exit from the iShares Ethereum Trust ETF (NASDAQ: ETHA), selling 85,000 shares in the fourth quarter. The sale trimmed the ETHA position by $2.68 million at quarter-end. As a result, Marathon now holds zero ETHA shares, versus a 3.6% portfolio weight the prior quarter.
On February 17, 2026, Marathon reported selling its entire ETHA stake, a transaction valued at approximately $2.68 million based on last-disclosed holdings. An SEC filing dated the same day confirms the 85,000-share sale and Marathon’s zero ETHA holding at quarter-end. The net position change was $2.68 million. As ETHA traded around $15.59 on Thursday, the ETF remained up by less than the broader market, with the fund lagging the S&P 500 over the past year.
The ETHA position was previously 3.6% of the fund’s assets in the prior quarter. Notably, Marathon still held roughly $2.2 million in a bitcoin ETF position, adding about 22,000 shares to the position (now around 47,000), suggesting the shift was toward concentrated exposure in bitcoin rather than a wholesale exit from crypto.
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