Jane Street boosts Fidelity Bitcoin ETF holdings nearly 8x, trims IBIT

Jane Street’s share count in Fidelity’s spot Bitcoin exchange-traded fund (ETF) rose nearly eightfold in the third quarter, while its holdings in BlackRock’s fund fell 19%.

The trading giant ended September with 7.01 million shares of Fidelity Wise Origin Bitcoin Fund (FBTC0, up from about 887,000 at the end of June. The position was worth $509 million on Sept. 30, according to its second-quarter and third-quarter filings.

Jane Street’s holdings in BlackRock’s iShares Bitcoin Trust ETF (IBIT) fell to 20.22 million shares from 24.88 million. A higher share price lifted the reported value of its stake to $957 million from $828 million.

Jane Street was the largest reported institutional holder of BlackRock’s Bitcoin ETF at the end of June after boosting its share count by 324% in Q2, according to 13F Pro. IBIT is the world’s largest spot Bitcoin ETF with $56 billion in net assets as of Thursday.

The firm also added nearly 9 million shares (about $249 million) of the ARK 21Shares Bitcoin ETF (ARKB), while more than doubling its holdings in BlackRock’s iShares Ethereum Trust ETF (ETHA) by 7.83 million shares (about $158 million).

JPMorgan Chase increased its IBIT holdings by 9.6% in the third quarter, adding about 1 million shares to reach 11.41 million. The US banking giant’s reported IBIT position rose to around $540 million.

In contrast, JPMorgan nearly erased its direct holdings in BlackRock’s ETHA, reducing its position from 1.17 million shares at the end of June to just 399 shares.