Jane Street boosts Fidelity Bitcoin ETF stake, trims IBIT
In short
Jane Street ended the third quarter with far more Fidelity Bitcoin ETF shares than before, nearly 8 times as many. It also cut its BlackRock Bitcoin ETF holdings by 19%, while the value of that BlackRock stake rose to $957 million.
This shows a big change in how the firm held Bitcoin ETF exposure during the quarter.
What the reporting says
Jane Street ended Q3 with nearly eight times more shares in Fidelity’s Bitcoin ETF while cutting its BlackRock Bitcoin ETF holdings by 19%. The higher share price also lifted the value of its BlackRock stake to $957 million. The filing points to a large shift in how the firm allocated its Bitcoin ETF exposure during the quarter.
Why it matters
Jane Street ended Q3 with a much larger Fidelity Bitcoin ETF position and 19% fewer shares in BlackRock’s Bitcoin ETF, while the BlackRock stake’s value reached $957 million as the share price moved higher. The reported move matters to Bitcoin ETF investors and market watchers because it shows a major rebalancing between two leading spot Bitcoin funds.