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Jane Street Cryptocurrency The portfolio moves away from Bitcoin
Jane Street Group, one of Wall Street’s most influential trading firms, reduced its key bitcoin-related investments during the first quarter of 2026 while increasing its exposure to ether-focused funds and some crypto shares, according to a new regulatory filing.
The latest addition to the company 13F filing showed significant reductions in spot bitcoin exchange-traded funds managed by Blackrock and Fidelity, reversing some of the aggressive positioning they took late last year.
Stakes in Blackrock’s iShares Bitcoin The trust fell about 71% quarter-over-quarter to about 5.9 million shares, valued at about $225 million at the end of March. Jane Street has also reduced its bet in Wise Origin from Fidelity Bitcoin Funded approximately 60% to reach nearly 2 million shares, worth approximately $115 million.
The pullback occurred during a turbulent period for digital assets, with bitcoin trading below $80,000 for parts of the quarter, against a broader backdrop crypto the markets were faced with sustained selling pressure.
Jane Street also reduced its exposure to Strategy, with the firm reducing its position in Strategy from approximately 968,000 shares to approximately 210,000 shares, thereby lowering the stock’s reported value. bet from almost $146 million to around $27 million. This reversal was notable given that prior filings showed that Jane Street increased its strategic holdings by more than 470% in the previous quarter.
The company further reduced its 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. Assets in BlackrockIshares’ Ethereum Trust nearly doubled during the quarter, while the company also expanded its position in Fidelity’s Ethereum fund. The combined additions in the two ether ETFs totaled approximately $82 million.
The trading firm also increased its holdings in several crypto-related stocks. Riot Platforms’ holdings jumped to about 7.4 million shares from about 5 million previously, bringing the value of the position to about $91 million.
Exposure to Coinbase increased slightly, while one of the biggest changes occurred in Galaxy Digital. Jane Street has strengthened its bet in the crypto financial services company from about 17,000 shares to about 1.5 million shares, increasing the reported value of the stake from less than $400,000 to about $28 million.
The filing offers only a partial snapshot of the firm’s exposure, as the 13F disclosures cover long positions in U.S. stocks but exclude derivatives, short trades and many market-making activities.
Portfolio adjustments suggest that institutional trading firms are becoming increasingly selective in how they position themselves in digital asset markets, favoring diversification over broadly directional exposure to bitcoin alone.
