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Jane Street finished the third quarter of 2026 with 7,010,008 shares of the Fidelity Wise Origin Bitcoin Fund (FBTC), up from 886,736 at the end of June, according to Cointelegraph. The position was worth $509.2 million at September 30, against $45.3 million three months earlier.
The filing, submitted to the US Securities and Exchange Commission on November 12, also showed the trading firm shrinking its BlackRock iShares Bitcoin Trust ETF (IBIT) holding to 20,221,140 shares from 24,878,191.
Also read: BNY Mellon lifts Strive stake 28% to 237,100 shares
Key facts
- The FBTC addition of 6,123,272 shares represents an increase of about 691%, or roughly 7.9 times the June figure.
- The IBIT reduction of 4,657,051 shares works out to 18.7%, yet the stake’s reported value rose to $957.3 million from $828.2 million because of a higher share price.
- Jane Street’s ARKB holding grew to 11,689,194 shares from 2,700,151, a position valued at $323.7 million.
- Its iShares Ethereum Trust ETF (ETHA) stake rose to 15,438,249 shares from 7,606,021, worth about $310.6 million at quarter-end.
- JPMorgan Chase increased its IBIT position by 9.6%, adding about 1 million shares to 11.41 million, worth approximately $540 million.
A rotation inside Bitcoin ETF exposure
Cointelegraph reported the shift as a redistribution of Jane Street’s Bitcoin ETF holdings rather than an exit. The firm’s share count in Fidelity’s fund rose nearly eightfold, while its IBIT count fell 19%.
The combined quarter-end value of its FBTC, IBIT and ARKB positions rose to about $1.79 billion from roughly $926 million in June, crypto.news reported. That outlet attributed the increase to $1.79 billion across those three funds, while Cointelegraph described the FBTC stake as worth $509 million and the IBIT stake at $957 million.
Cointelegraph noted that Jane Street had been the largest reported institutional holder of IBIT at the end of June, after raising its share count by 324% in the second quarter. The firm also disclosed options tied to IBIT, crypto.news reported: call options referencing 34.97 million shares and put options referencing 45.32 million, listed separately from its ordinary fund shares.
The Q3 move partly reverses the firm’s earlier retreat from Fidelity’s fund. crypto.news reported that Jane Street cut its FBTC shareholding by around 60% in the first quarter, when it also reduced BlackRock Bitcoin ETF exposure.
Other institutions moved in opposite directions
JPMorgan’s 13F filing with the SEC showed the bank nearly erased its direct ETHA holding, falling to 399 shares from about 1.17 million at the end of June. It also lifted its stake in Bitcoin treasury company Strategy by 36% to nearly 849,000 shares, worth about $131 million.
Laurore, which lists a Hong Kong business address, reduced its IBIT position by 1.6 million shares to 3,246,279, a 33% cut worth about $153.7 million at quarter-end, crypto.news reported. Cointelegraph put the same holding at 3.25 million shares and about $154 million. Laurore drew attention in February 2026 after disclosing an IBIT position worth $436 million at the end of 2025.
BlackRock listed approximately $56.3 billion in net assets for IBIT as of November 12, crypto.news reported, making it the largest US spot Bitcoin ETF by assets. Cointelegraph cited $56 billion as of Thursday.
Why it matters
13F filings give the clearest public view of how large trading firms and banks allocate across competing spot Bitcoin funds. Jane Street’s shift toward FBTC and ARKB, alongside its smaller IBIT share count, shows that institutional money is moving between funds even when the total exposure stays large. The value gains despite fewer IBIT shares also show how share price changes can mask reductions in reported holdings. Other banks filed their third-quarter positions before Jane Street’s November 12 submission, including Barclays with a reported 48% IBIT increase and Citigroup with a new 1.64 million-share FBTC position.
What to watch
Next quarter’s 13F filings will show whether Jane Street continues rebuilding its Fidelity position or reverses course again, and whether JPMorgan’s ETHA reduction holds. Daily flows into FBTC and IBIT will indicate whether other institutions follow the same rotation.
This article is not financial advice, and crypto markets are volatile and uncertain.
Reported by Cointelegraph.
Sources: Cointelegraph, crypto.news