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\n\t\t\t\t\t\t\t\t\tThe quant trading heavyweight rebuilt its Bitcoin ETF exposure during the second quarter, with BlackRock\u2019s fund accounting for most of the position.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Jane Street \u2013 the popular quant trading firm with a heavy orientation toward crypto \u2013 disclosed more than $1 billion in U.S. spot Bitcoin ETF holdings as of the second quarter of this year.<\/p>\n
BlackRock\u2019s iShares Bitcoin Trust (IBIT) is currently dominating its portfolio. According to the firm\u2019s latest Form 13F, filed<\/a> on August 14th with the Securities and Exchange Commission (SEC), Jane Street holds roughly $828 million invested in IBIT, alongside other positions in products including Fidelity\u2019s FBTC and Grayscale\u2019s GBTC.<\/p>\n The filing covers the overall securities the firm holds at the end of the reporting period rather than direct Bitcoin ownership.<\/p>\n With that in mind, it turns out that the quant trading heavyweight also expanded its exposure across crypto exchange-traded funds beyond Bitcoin. As\u00a0CryptoPotato\u00a0<\/em>recently reported<\/a>, the same Q2 filing showed it holding more than 1.2 million shares of Bitwise\u2019s spot XRP ETF, compared with just 20,605 shares three months earlier.<\/p>\n Jane Street also reported positions in XRP products from Franklin Templeton, Grayscale, Canary Capital, and 21Shares.<\/p>\n The Bitcoin numbers represent a serious increase from the first quarter. The company had previously cut its IBIT position by around 71% to about 5.9 million shares, which were worth approximately $225 million before rebuilding the stake during the second quarter.<\/p>\n That said, the holdings shouldn\u2019t necessarily be interpreted as a one-sided bullish bet on Bitcoin. The firm is one of the largest market makers in the industry, and these filings provide only a quarter-end snapshot of long positions. They do not show the firm\u2019s complete short, futures, swaps, or exposure to other derivative products.<\/p>\nYou may also like:<\/h3>\n