Jane Street Group’s newest 13F filing, covering the quarter that ended June 30, 2026, shows the firm still held shares of BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund. A search of the SEC’s own filing index confirms both funds are named in it. Grayscale Bitcoin Trust, which Jane Street has held in earlier quarters.
The position has moved in three different directions in three straight quarters. Jane Street added roughly $276 million to its iShares Bitcoin Trust stake in the fourth quarter of 2025. It then cut that stake by 71% in the first quarter of 2026, from 20.3 million shares to 5.9 million shares worth about $225 million.
Its Fidelity Wise Origin Bitcoin Fund position fell by roughly 60% over the same period. In that same quarter, the firm added about $82 million to Ethereum ETFs, split between BlackRock’s ETHA and Fidelity’s FETH.
Jane Street Rebuilds Bitcoin ETF Exposure
| Quarter | iShares Bitcoin Trust Shares | iShares Value | Fidelity Wise Origin Bitcoin Fund | Direction vs. Prior Quarter | Data Status |
|---|---|---|---|---|---|
| Q4 2025 | Increased | +$276M | Position held | Added | SEC filing / reported change |
| Q1 2026 | 20.3M → 5.9M | ~$225M | Position fell ~60% | Sharp reduction | SEC filing |
| Q2 2026 | 24.9M* | ~$828M–$990M* | Position remains | Rebuilt | SEC filing |
The SEC filing confirms Jane Street’s exposure to iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund, but the 24.9 million-share figure and $828 million to $990 million valuation.
By the end of the second quarter, the Bitcoin ETF position had grown again. One estimate puts the iShares Bitcoin Trust stake at 24.9 million shares worth $828 million as of June 30. A separate estimate puts its value nearer $990 million. Neither figure comes from Jane Street itself, and the two conflict. What the SEC filing establishes directly is narrower: the position exists, and both funds are still on Jane Street’s books.
Three consecutive changes across nine months undercut any simple reading of the position as a bet in one direction. Jane Street is a major authorized participant for exchange-traded funds, a role that requires constantly creating and redeeming shares to keep fund prices aligned with the underlying asset. Swings of this size are consistent with that market-making function as much as with any view on Bitcoin’s price.
Tudor Takes a Smaller, Steadier Position
Tudor Investment Corp made a smaller increase in its iShares Bitcoin Trust position in the second quarter, contrasting with Jane Street’s much larger but less certain rebound.
| Investor | Q1 2026 IBIT Shares | Q2 2026 Shares | Q/Q Change | Q2 Value | Late-2024 Peak | Current vs. Peak |
|---|---|---|---|---|---|---|
| Jane Street | 5.9M | SEC filing confirms IBIT exposure; outside estimate: 24.9M | Rebuilt | Third-party estimates: $828M–$990M | 20.3M+ shares in Q1 2026 | Not directly comparable |
| Tudor Investment Corp. | ~578,999 | 688,529 | +18.9% | $22.9M | ~8.05M | −91.4% |
Tudor’s iShares Bitcoin Trust stake rose 18.9% from the prior quarter to 688,529 shares worth $22.9 million. That remains 91.4% below the roughly 8.05 million shares Tudor held at its late-2024 peak. Jane Street’s rebound was substantially larger, but its exact Q2 share count and value are less straightforward because the SEC filing includes option positions and outside estimates conflict. The comparison therefore shows a sharp difference in scale without treating the two positions as directly equivalent.
Read together, the two filings point to a cautious, partial return to Bitcoin ETFs after a quarter in which large holders cut their positions broadly. Neither firm’s current stake matches what it held before those cuts.
The same 13F shows a separate, larger move elsewhere in Jane Street’s book. Its stake in Bitwise’s XRP ETF grew from 20,605 shares to more than 1.2 million, roughly a 60-fold increase, alongside smaller positions in XRP ETFs from:
- Franklin Templeton
- Grayscale
- Canary Capital
- 21Shares
The filing also arrived the same week Jane Street disclosed a $15 billion trading loss in July, its worst month in roughly a decade. The loss followed margin calls at Situational Awareness, an AI-focused hedge fund Jane Street had backed, which forced a sale of its stock portfolio after AI shares fell sharply. Weak bets in Asian equity markets added to the loss.
Turner Batty, a Jane Street partner, wrote in an internal note that “July was a bad month” and that the firm had “closed a significant portion of our risk in the specific areas we lost on in July.”
The next round of 13F filings, covering the third quarter, will show whether Jane Street’s rebuild continues or reverses again, and whether Tudor’s smaller increase does the same.
Jane Street-linked wallets moved 270 BTC worth about $19 million to Bullish and LMAX Digital on March 6, 2026. The transfers add an on-chain data point to Jane Street’s changing Bitcoin ETF exposure shown in its latest 13F filing.
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