Crypto Investors Dispute Jane Street Bitcoin Price Suppression Theory

The theory has sparked debate among cryptocurrency investors and experts, with some accusing Jane Street of deliberately pushing prices lower before accumulating ETF shares at a discount.

However, Rob Hadick, General Partner at Dragonfly, believes the narrative is based on a misunderstanding of how exchange-traded fund (ETF) market structure works.

'I find the Jane Street conversation a little bit silly,' Hadick said. 'The authorized participants are constantly buying and selling to keep prices aligned with the net asset value.'

He explained that this hedging process can create the appearance of directional trades, but is actually aimed at managing risk.