Jane Street significantly reduced several of its major Bitcoin-related investments during the first quarter of 2026 while increasing its exposure to Ethereum funds and selected crypto companies.
According to a new 13F filing released Tuesday, the Wall Street trading giant cut its holdings in major spot Bitcoin ETFs linked to BlackRock and Fidelity Investments after building large positions late last year.
Jane Street reduced its stake in iShares Bitcoin Trust by about 71%, leaving the firm with around 5.9 million shares valued near $225 million. Its position in Fidelity Wise Origin Bitcoin Fund also dropped roughly 60% to about 2 million shares worth nearly $115 million by the end of the quarter.
At the same time, the company increased its investments in Ethereum ETFs. Its holdings in iShares Ethereum Trust nearly doubled, while the firm also added heavily to Fidelity’s Ethereum fund. Combined purchases across the two Ether ETFs totaled around $82 million.
Jane Street also sharply reduced its position in Strategy, formerly known as MicroStrategy. The firm lowered its holdings from nearly 968,000 shares in late 2025 to around 210,000 shares by the end of Q1 2026.
Beyond Bitcoin ETFs, Jane Street trimmed positions in several Bitcoin mining companies, including IREN, Cipher Mining, TeraWulf, and Core Scientific.
However, the company increased investments in other crypto-related firms. Its stake in Riot Platforms rose to around 7.4 million shares, while its holdings in Coinbase also increased.
One of the biggest changes came through Galaxy Digital. Jane Street expanded its holdings from around 17,000 shares to roughly 1.5 million shares during the quarter.
The filing highlights a shift in exposure rather than a complete exit from crypto markets, with the firm appearing to reduce direct Bitcoin-related positions while increasing focus on Ethereum products and broader crypto infrastructure companies.
The disclosure comes as crypto markets continue seeing strong institutional activity, rising ETF demand, and growing interest in blockchain-related equities.
