Jane Street has disclosed a nearly $1 billion Bitcoin position built entirely through spot ETFs, led by a heavy stake in BlackRock's fund. The firm also reported its first losing month in about a decade, even as its year-to-date trading revenue still tops 2025's full-year record.
Jane Street has revealed a nearly $1 billion Bitcoin position, or 15,394 BTC at today's prices, held entirely through spot Bitcoin ETFs rather than digital coins. According to a regulatory filing with the Securities and Exchange Commission, the quantitative trading firm and liquidity provider holds $990 million spread across major Bitcoin ETFs, including BlackRock's iShares Bitcoin Trust, Fidelity's Wise Origin Bitcoin Fund, and Grayscale's Bitcoin Trust.
The filing shows $828 million invested solely in BlackRock's fund, the biggest and most popular of the spot Bitcoin ETFs, which began trading at the start of 2024. BlackRock's fund has drawn more cash than any other crypto ETF and now holds $47.3 billion in assets under management.
Major firms have used the regulated, exchange-traded vehicles to gain exposure to the asset without holding coins directly. Pension funds and U.S. states have bought exposure to Bitcoin through the ETFs alongside more traditional holdings like tech stocks and other U.S. equities.
Jane Street on Monday posted its first losing month in about a decade, revealing roughly $15 billion in July losses. The loss was driven mainly by its stake in AI-focused hedge fund Situational Awareness, which stumbled amid AI bet losses and margin calls, and by bad bets in Asian equity markets.
Despite the loss, Jane Street has made over $40 billion in net trading revenue year-to-date, according to Bloomberg. That already tops all of 2025, when the firm set a Wall Street record with $39.6 billion, beating Goldman Sachs and JPMorgan.
Wall Street firms Edelman Financial and Tudor Investment Corporation also revealed significant Bitcoin positions last week, along with Abu Dhabi's sovereign wealth funds.
Source: Bitcoin Magazine
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