Jane Street discloses more than $1 billion in Bitcoin ETF positions

Quantitative trading firm Jane Street has invested more than $1 billion in US spot Bitcoin ETFs as of 30 June. The largest portion, around $828 million, is in BlackRock’s IBIT. The rest is spread across products such as Fidelity’s FBTC and Grayscale’s GBTC. These are positions in ETF shares, not direct ownership of Bitcoin.

In brief:

• Jane Street discloses more than $1 billion in Bitcoin ETF positions as of 30 June
• BlackRock’s IBIT accounts for $828 million of the total
• The positions are in ETF shares, not direct Bitcoin

Largest share in BlackRock’s IBIT

Jane Street is one of the larger quantitative trading firms in the world and is known for its activity in financial markets through algorithmic and arbitrage strategies. The disclosure of these positions follows from mandatory filings with the US securities regulator, the SEC.

With $828 million of the total invested in BlackRock’s IBIT, that product is by far the largest position. The remaining hundreds of millions are spread across other spot Bitcoin ETFs offered in the United States, including those from Fidelity and Grayscale.

Indirect interest, not direct Bitcoin

Jane Street does not own Bitcoin directly through these positions. The ETF shares provide exposure to the Bitcoin price without the firm holding the underlying coins itself. Bitcoin is currently at $64K, up 1.4% in the past 24 hours.

The disclosure shows that large institutional players are actively using US spot Bitcoin ETFs to build exposure. Whether these are long-term positions or trading strategies in which the ETFs are used as instruments is not clear from the filing.