Jane Street, a quant trading firm with significant exposure to cryptocurrency, has disclosed holdings of more than $1 billion in U.S. spot Bitcoin exchange-traded funds (ETFs) as of the second quarter of this year. The firm’s largest position is in BlackRock’s iShares Bitcoin Trust (IBIT), which accounts for approximately $828 million of its Bitcoin ETF holdings.
The filings, submitted to the Securities and Exchange Commission (SEC) on August 14, reveal a notable increase in Jane Street’s stake in XRP-related ETFs, with the firm holding over 1.2 million shares in Bitwise’s XRP ETF as of Q2—up sharply from 20,605 shares in the previous quarter. This marks a significant shift in the firm’s crypto portfolio strategy.
Jane Street’s position in IBIT saw a substantial reduction in the first quarter of this year, declining by 71% to around $225 million. The Q2 figures, however, indicate a reversal, with the firm re-establishing a major presence in the Bitcoin ETF market. The filings reflect only long positions and do not include exposure to derivatives or short-selling activities.
The firm’s holdings span multiple ETF providers, including Fidelity’s FBTC, Grayscale’s GBTC, and XRP-focused products from Bitwise, Franklin Templeton, Canary Capital, and 21Shares. These positions highlight Jane Street’s diversified approach to crypto investing through ETFs.
The SEC’s receipt of the Form 13F filing underscores the growing institutional interest in cryptocurrency assets, with traditional financial firms increasingly allocating capital to digital-asset markets via regulated vehicles.
Written by Oliver Grant
Markets Desk
