Jane Street increases Fidelity Bitcoin ETF stake eightfold while trimming BlackRock fund
Regulatory filings show Jane Street expanded its Fidelity Bitcoin ETF position to $509 million in the third quarter, while reducing its BlackRock Bitcoin ETF holdings by 19 percent.
Key takeaways
- 1Jane Street grew its Fidelity Bitcoin ETF position from 887,000 to 7.01 million shares worth $509 million in Q3.
- 2Jane Street trimmed its BlackRock Bitcoin ETF position by 19% to 20.22 million shares, valued at $957 million.
- 3JPMorgan Chase raised its BlackRock Bitcoin ETF holdings by 9.6% to $540 million while reducing its BlackRock Ethereum ETF stake to 399 shares.
- 4Jane Street added nearly 9 million shares of the ARK 21Shares Bitcoin ETF and 7.83 million shares of BlackRock's Ethereum fund.
Trading firm Jane Street increased its stake in the Fidelity Wise Origin Bitcoin Fund to 7.01 million shares in the third quarter, an almost eightfold rise from June, quarterly regulatory filings show. The firm held approximately 887,000 shares of the Fidelity fund at the end of the second quarter, with its updated position valued at $509 million at the end of September.
Over the same three-month period, Jane Street reduced its holdings in BlackRock's iShares Bitcoin Trust by 19 percent, falling from 24.88 million shares to 20.22 million shares. Because the unit price of the ETF rose during the quarter, the total reported value of Jane Street's BlackRock stake climbed to $957 million from $828 million.
Under US Securities and Exchange Commission rules, institutional investment managers with more than $100 million in qualifying equity assets must file Form 13F reports within 45 days of the end of each quarter. The disclosures provide a snapshot of positions held on the final business day of the quarter and do not reveal short positions or intra-quarter trading activity.
Jane Street also expanded its exposure across other crypto funds during the period. The firm accumulated nearly 9 million shares of the ARK 21Shares Bitcoin ETF, worth about $249 million, and added 7.83 million shares of BlackRock's iShares Ethereum Trust, more than doubling its position in that vehicle to $158 million.
Separately, JPMorgan Chase increased its BlackRock Bitcoin ETF holdings by 9.6 percent in the third quarter, adding about 1 million shares to reach 11.41 million shares valued at $540 million. The bank pared down its position in BlackRock's Ethereum fund from 1.17 million shares to 399 shares, while raising its stake in Bitcoin treasury company Strategy by 36 percent to nearly 849,000 shares worth $131 million.
Laurore, an investment firm listing a Hong Kong business address in SEC filings, reduced its position in BlackRock's Bitcoin ETF by 33 percent during the third quarter. The firm sold 1.6 million shares to end September with 3.25 million shares worth approximately $154 million.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.