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- Jane Street cut its stakes in major Bitcoin ETFs and MicroStrategy by up to 71% during a volatile first quarter.
- The trading giant doubled down on Ethereum, pumping an extra $82 million into BlackRock and Fidelity Ether funds.
- While exiting Bitcoin miners, the firm aggressively bought shares of Coinbase, Riot Platforms, and Galaxy Digital.
Wall Street heavyweight Jane Street completely reshaped its digital asset playbook in the opening months of 2026. A recent regulatory filing shows the trading powerhouse aggressively dialed back its bets on Bitcoin while quietly piling into Ethereum and specific crypto corporations.
This massive pivot happened just as the broader crypto market faced intense selling pressure, forcing Bitcoin’s price to repeatedly dip below the $80,000 mark. For institutional investors who track Jane Street’s every move, these changes offer a rare look at how smart money navigates market turbulence. The firm shifted away from the asset class it heavily backed late last year, signaling a major change in market sentiment.
Jane Street Its Bitcoin Portfolio
This move by Jane Street was massive. From the 13F report, the company sold off its shares in BlackRock’s popular iShares Bitcoin Trust by 71%. The result of this was that they ended up with a total of 5.9 million shares in value at approximately $225 million. However, they did not end here.
They reduced their investment in the Wise Origin Bitcoin Fund from Fidelity by 60%, resulting in them having about 2 million shares worth $115 million. These sales also saw them divesting from the software firm MicroStrategy, which is famously known for its heavy accumulation of Bitcoin in its treasury.
The investment company made a U-turn from its previous investment strategy where it had been increasing its investment in MicroStrategy’s shares by 473%. The company ended up reducing its investment by selling off most of its shares, resulting in them having only 210,000 shares from approximately a million.
Jane Street Bets Big on Crypto Infrastructure
In parallel with unwinding its Bitcoin positions, Jane Street decided to invest this money into Ethereum directly. It nearly doubled its exposure to BlackRock’s iShares Ethereum Trust and made significant investments in Fidelity’s Ethereum investment fund. These two Ether-related investments accounted for an additional $82 million on their balance sheet.
Additionally, the investment manager chose to bet on the companies forming the basis of the crypto market itself. It purchased another 1.1 million shares of Riot Platforms, taking the total investment in this stock to $91 million. It also invested heavily into America’s biggest crypto exchange, namely, increasing their holding in Coinbase by purchasing an additional 888,000 shares.
Nevertheless, it was the company Galaxy Digital which brought about the biggest surprise. Jane Street boosted its share of the company from 17,000 to 1.5 million, which means the total value of this investment grew from less than $400,000 to $28 million.
Despite the fact that the data reported here shows only long positions and excludes any information about short positions or derivatives, there is no doubt that the investment manager’s strategy has changed significantly.
Also Read: Bitcoin Traders Panic as $1.25B Vanishes After Hot CPI Shakes Market
