Jane Street Cuts Bitcoin ETF Stakes as JPMorgan Boosts

Major trading firm Jane Street significantly reduced its holdings in spot Bitcoin exchange-traded funds during the first quarter of 2026, while JPMorgan sharply increased its stake in BlackRock's flagship Bitcoin ETF, highlighting divergent strategies among Wall Street players amid rising institutional interest in digital assets.

According to regulatory 13F filings released this week, Jane Street cut its position in BlackRock's iShares Bitcoin Trust (IBIT) by 71 percent to about 5.9 million shares, valued at roughly $225 million at quarter's end. The firm also trimmed its stake in Fidelity's Wise Origin Bitcoin Fund (FBTC) by 60 percent to around 2 million shares, worth nearly $115 million. These reductions followed sizable increases in the positions during late 2025.

In contrast, JPMorgan boosted its IBIT holdings by 175 percent to nearly 8.3 million shares. The banking giant's move underscores growing confidence in regulated Bitcoin investment products, which offer institutions a compliant way to access the asset without direct custody.

Jane Street's adjustments extended beyond Bitcoin ETFs. The firm nearly doubled its exposure to BlackRock's iShares Ethereum Trust and added...