Jane Street, one of the most influential quantitative trading firms on Wall Street, slashed roughly 71% of its flagship Bitcoin ETF position in Q1 2026 while simultaneously funneling about $82 million into Ethereum-based ETFs. The move, disclosed in 13F filings reflecting holdings as of March 31, 2026, amounts to one of the most visible institutional rotations between the two largest crypto assets this year.
The firm’s stake in BlackRock’s iShares Bitcoin Trust (IBIT) dropped to approximately 5.9 million shares, valued at around $225 million. Its position in the Fidelity Wise Origin Bitcoin Fund (FBTC) was trimmed by about 60%. Meanwhile, Jane Street nearly doubled its holdings in BlackRock’s iShares Ethereum Trust (ETHA) and increased its allocation to Fidelity’s Ethereum fund (FETH).
What the numbers actually show
Bitcoin was trading below $80K at various points during the quarter, which may have influenced the timing of these adjustments.
The firm also reduced its MicroStrategy (MSTR) position by approximately 78%. On the flip side, Jane Street increased its stake in Galaxy Digital to 1.5 million shares and boosted positions in both Riot Platforms and Coinbase.
