Jane Street Cuts Bitcoin Exposure by 71% as Ether Position Rises to $82M in Q1

Jane Street’s Crypto Portfolio Shifts Away From Bitcoin

Jane Street Group, 1 of Wall Street’s astir influential trading firms, chopped backmost cardinal bitcoin-related investments during the archetypal 4th of 2026 portion expanding vulnerability to ether-focused funds and prime crypto equities, according to a caller regulatory filing.

The firm’s latest 13F filing showed important reductions successful spot bitcoin exchange-traded funds managed by Blackrock and Fidelity, reversing portion of the assertive positioning it had built precocious past year.

Holdings successful Blackrock’s iShares Bitcoin Trust fell astir 71% 4th implicit 4th to astir 5.9 cardinal shares, valued astatine astir $225 cardinal astatine the extremity of March. Jane Street besides reduced its stake successful Fidelity’s Wise Origin Bitcoin Fund by astir 60% to astir 2 cardinal shares, worthy astir $115 million.

The pullback came during a turbulent agelong for integer assets, with bitcoin trading beneath $80,000 during parts of the 4th arsenic broader crypto markets faced sustained selling pressure.

Jane Street besides chopped vulnerability to Strategy, with the steadfast reducing its Strategy presumption from astir 968,000 shares to astir 210,000 shares, lowering the reported worth of the stake from astir $146 cardinal to astir $27 million. The reversal was notable fixed that earlier filings showed Jane Street had accrued its Strategy holdings by much than 470% successful the erstwhile quarter.

The steadfast additionally trimmed positions successful respective bitcoin mining companies, including IREN, Cipher Mining, Terawulf, and Core Scientific.

At the aforesaid time, Jane Street accrued its vulnerability to ether-related investments. Holdings successful Blackrock’s Ishares Ethereum Trust astir doubled during the quarter, portion the steadfast besides expanded its presumption successful Fidelity’s ethereum fund. Combined additions crossed the 2 ether ETFs totaled astir $82 million.

The trading steadfast besides raised stakes successful respective crypto-linked equities. Riot Platforms holdings climbed to astir 7.4 cardinal shares from astir 5 cardinal previously, bringing the position’s worth to astir $91 million.

Coinbase vulnerability accrued modestly, portion 1 of the largest shifts came successful Galaxy Digital. Jane Street boosted its stake successful the crypto fiscal services institution from astir 17,000 shares to astir 1.5 cardinal shares, expanding the reported worth of the holding from little than $400,000 to astir $28 million.

The filing offers lone a partial snapshot of the firm’s exposure, arsenic 13F disclosures screen agelong U.S. equity positions but exclude derivatives, abbreviated trades, and galore market-making activities.

The portfolio adjustments suggest organization trading firms are becoming progressively selective successful however they presumption themselves crossed integer plus markets, favoring diversification implicit wide directional vulnerability to bitcoin alone.