Jane Street Adapts Crypto Holdings with Shift to Ethereum

Jane Street, a leading Wall Street trading firm, has announced a notable shift in its cryptocurrency investments during the first quarter of 2026.

The firm significantly reduced its holdings in Bitcoin-linked exchange-traded funds (ETFs), including BlackRock's iShares Bitcoin Trust and Fidelity's Bitcoin fund. Specifically, Jane Street cut its stake in BlackRock's iShares Bitcoin Trust by about 71% to around 5.9 million shares, valued at approximately $225 million.

However, the firm simultaneously increased its exposure to Ethereum funds, nearly doubling its position in BlackRock's iShares Ethereum Trust and adding heavily to Fidelity's Ethereum fund. The combined value of these two Ether ETF additions totaled around $82 million over the quarter.

In addition to this shift towards Ethereum, Jane Street reduced its stake in Strategy, a company led by Michael Saylor that holds large amounts of Bitcoin on its balance sheet, from approximately $146 million to about $27 million. The firm also trimmed stakes in several Bitcoin mining companies during the quarter.

Despite the overall decrease in Bitcoin-related holdings, Jane Street increased its positions in Coinbase, Riot Platforms, and Galaxy Digital, indicating a selective approach rather than a complete exit from crypto-linked equities. These moves are part of a broader trend of institutional interest in Ether ETFs in 2026.