Jane Street Dumps Bitcoin, Bets Big on Ether: What’s Behind the Crypto Shift?

by

Jane Street Cuts <a href="https://bbg-news.com/btc-usd/">Bitcoin</a> Exposure by 71% as Ether <a href="https://pricpr.com/posi">Position</a> Rises to $82M in Q1

During the first three months of the year, Jane Street significantly decreased its investments in bitcoin-related products. At the same time, the firm increased its holdings in ether exchange-traded funds (ETFs) and certain stocks of companies involved in cryptocurrency. These changes happened as the crypto market became more volatile and large investors began to adjust their strategies.

  • Key Takeaways:

  • Jane Street cut Blackrock bitcoin ETF holdings by 71% as BTC fell below $80K in Q1.
  • Jane Street added $82M to ether ETFs and boosted Galaxy Digital to 1.5M shares.
  • Riot and Coinbase stakes rose in Q1 2026 as Jane Street diversified beyond bitcoin exposure.

Jane Street’s Crypto Portfolio Shifts Away From Bitcoin

Jane Street Group, one of Wall Street’s most influential trading firms, cut back key bitcoin-related investments during the first quarter of 2026 while increasing exposure to ether-focused funds and select crypto equities, according to a new regulatory filing.

The firm’s latest 13F filing showed significant reductions in spot bitcoin exchange-traded funds managed by Blackrock and Fidelity, reversing part of the aggressive positioning it had built late last year.

Holdings in Blackrock’s iShares Bitcoin Trust fell roughly 71% quarter over quarter to about 5.9 million shares, valued at approximately $225 million at the end of March. Jane Street also reduced its stake in Fidelity’s Wise Origin Bitcoin Fund by around 60% to nearly 2 million shares, worth about $115 million.

The pullback came during a turbulent stretch for digital assets, with bitcoin trading below $80,000 during parts of the quarter as broader crypto markets faced sustained selling pressure.

Jane Street also cut exposure to Strategy, with the firm reducing its Strategy position from roughly 968,000 shares to about 210,000 shares, lowering the reported value of the stake from nearly $146 million to approximately $27 million. The reversal was notable given that earlier filings showed Jane Street had increased its Strategy holdings by more than 470% in the previous quarter.

The firm additionally trimmed positions in several bitcoin mining companies, including IREN, Cipher Mining, Terawulf, and Core Scientific.

At the same time, Jane Street increased its exposure to ether-related investments. Holdings in Blackrock’s Ishares Ethereum Trust nearly doubled during the quarter, while the firm also expanded its position in Fidelity’s ethereum fund. Combined additions across the two ether ETFs totaled roughly $82 million.

The company increased its investments in stocks of companies involved with cryptocurrency. Specifically, its holdings in Riot Platforms grew to about 7.4 million shares, up from 5 million, making the total value of that investment around $91 million.

Coinbase exposure increased modestly, while one of the largest shifts came in Galaxy Digital. Jane Street boosted its stake in the crypto financial services company from roughly 17,000 shares to about 1.5 million shares, increasing the reported value of the holding from less than $400,000 to approximately $28 million.

This report provides an incomplete picture of the firm’s investments. It only shows their holdings of long U.S. stocks and doesn’t include things like options, short sales, or certain trading operations.

The portfolio adjustments suggest institutional trading firms are becoming increasingly selective in how they position themselves across digital asset markets, favoring diversification over broad directional exposure to bitcoin alone.

Read More

2026-05-14 23:28