Jane Street boosts Fidelity Bitcoin ETF shares nearly 8x in Q3

Jane Street’s 13F filing reveals a strategic reshuffle of its Bitcoin ETF portfolio. The firm nearly multiplied its position in Fidelity’s Wise Origin Bitcoin Fund (FBTC) from 886,736 shares at the end of June 2026 to 7,010,008 shares by September 30, 2026. The value of this stake surged to $509.2 million, up from $45.3 million in the prior quarter.

Conversely, Jane Street reduced its holdings in BlackRock’s iShares Bitcoin Trust (IBIT). Its share count dropped from 24,878,191 to 20,221,140, a 19% decrease. Despite the reduction in shares, the value of the IBIT position grew to $957.3 million, driven by the rising price of the ETF during the quarter.

The trading firm also expanded its exposure to other Bitcoin ETFs. Jane Street acquired nearly 9 million shares of the ARK 21Shares Bitcoin ETF (ARKB), valued at approximately $249 million. Additionally, it more than doubled its stake in BlackRock’s iShares Ethereum Trust (ETHA) to 7.83 million shares, worth around $158 million.

Across FBTC, IBIT, and ARKB, Jane Street’s combined Bitcoin ETF holdings are now valued at approximately $1.79 billion. This shift marks a move away from concentrating its bets in a single fund, reflecting a diversification strategy across issuers.

Jane Street’s actions are particularly notable given its previous role as the largest reported institutional holder of IBIT. This move follows a period of aggressive accumulation rather than a long-term hold.

The filing, which captures positions as of September 30, 2026, does not reflect any trading activity after that date. It also does not account for the fact that Jane Street is an authorized participant in these ETFs, a role that complicates simple interpretations of its holdings.

For context, IBIT remains the largest spot Bitcoin ETF by total net assets, managing around $56 billion as of mid-November 2026. Jane Street’s diversification across FBTC, IBIT, and ARKB signals a broader strategy rather than a single directional view on Bitcoin.

The moves by Jane Street contrast with those of JPMorgan, which increased its stake in IBIT. This divergence among large institutions suggests varied strategies rather than a unified market consensus.

The filing provides a snapshot of how one of the most active players in the ETF ecosystem is adjusting its exposure. For Fidelity and ARK 21Shares, the increased attention from Jane Street is a positive development, while BlackRock’s IBIT continues to dominate the market despite the 19% reduction in shares held by Jane Street.