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Jane Street made a sharp pivot away from Bitcoin in Q1 2026, cutting its positions in BlackRock's IBIT and Fidelity's FBTC while simultaneously trimming exposure to Strategy and several Bitcoin mining firms, according to the firm's latest 13F filing. The moves signal a deliberate reallocation rather than a broad crypto exit.
On the other side of the ledger, the quant giant nearly doubled down on Ether ETFs — adding to both BlackRock and Fidelity's Ether fund offerings — and expanded equity positions in Riot Platforms, Coinbase, and Galaxy Digital. The rotation suggests Jane Street sees more near-term upside in ETH-linked instruments and crypto infrastructure equities than in direct Bitcoin exposure.
For the broader market, a 13F from a firm of Jane Street's scale carries weight: it reflects a sophisticated institutional view that the BTC-to-ETH rotation trade has legs, at least…
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CoinTelegraph
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