Jane Street Reveals Nearly $1B Bitcoin Position

Quantitative trading firm and liquidity provider Jane Street has a nearly $1 billion bitcoin position — or 15,394 BTC at today’s prices. 

But the position is not held in the form of digital coins: According to a regulatory filing with the Securities and Exchange Commission, the Wall Street giant holds $990 million in Bitcoin exchange-traded funds, spread across major ETFs like BlackRock’s iShares Bitcoin Trust, Fidelity’s Wise Origin Bitcoin Fund, and Grayscale’s Bitcoin Trust. 

The lion’s share of the firm’s holdings are in BlackRock’s fund, with $828 million solely invested in the fund, according to the filing. 

BlackRock’s fund is the biggest and most popular of the spot Bitcoin ETFs, which were approved and started trading at the beginning of 2024. The fund has received more cash than any other crypto ETF and currently has $47.3 billion in assets under management. 

Major firms have been able to buy exposure to the asset via shares of the regulated vehicles that trade on stock exchanges. 

Pension funds and U.S. states have all bought exposure to Bitcoin via the ETFs, along with more traditional investments like tech stocks and other U.S. equities.

Jane Street on Monday posted its first losing month in about a decade, revealing roughly $15 billion in July losses.