Jane Street Expands Fidelity Bitcoin ETF Stake Eightfold as JPMorgan Buys IBIT

Trading firm Jane Street increased its holdings in Fidelity’s spot Bitcoin ETF nearly eightfold during the third quarter of 2026, while trimming its share count in BlackRock’s equivalent fund ¹. At the time of writing, $BTC traded at $68,746, down 6.2% over the previous 24 hours amid broader market pullbacks.

Jane Street closed September with 7.01 million shares of the Fidelity Wise Origin Bitcoin Fund (FBTC), up from approximately 887,000 shares at the end of June, according to regulatory filings ¹. The position reached a reported value of $509 million on Sept. 30 ¹. Meanwhile, the firm reduced its share count in BlackRock’s iShares Bitcoin Trust ETF (IBIT) by 19%, lowering its stake to 20.22 million shares from 24.88 million ¹. Due to a higher share price, the total value of Jane Street's IBIT position increased to $957 million from $828 million ¹. BlackRock's IBIT remained the largest spot Bitcoin fund globally, with $56 billion in net assets as of Thursday ¹.

Outside of its two largest positions, Jane Street accumulated roughly 9 million shares of the ARK 21Shares Bitcoin ETF (ARKB), worth about $249 million ¹. The market maker also more than doubled its exposure to BlackRock’s iShares Ethereum Trust ETF (ETHA), adding 7.83 million shares to bring the position's value to roughly $158 million ¹. $ETH changed hands at $1,934 at the time of writing.

Institutional Rebalancing Across Wall Street

Quarterly disclosures showed diverging strategies among other major institutional participants ¹. JPMorgan Chase increased its IBIT position by 9.6% during the third quarter, picking up approximately 1 million shares to bring its total to 11.41 million shares, valued around $540 million ¹. At the same time, JPMorgan effectively exited its direct holding in BlackRock’s ETHA, dropping from 1.17 million shares at the end of June to 399 shares ¹. The bank also grew its stake in Bitcoin corporate treasury firm Strategy by 36% to nearly 849,000 shares, a holding worth approximately $131 million as of Sept. 30 ¹. Institutional repositioning has become increasingly visible, following reports that Barclays boosted its BlackRock Bitcoin ETF position earlier in the reporting cycle.

Other notable third-quarter sellers included Hong Kong-headquartered entity Laurore, which cut its IBIT holdings by 33% ¹. Laurore shed 1.6 million shares to end the quarter with 3.25 million shares worth roughly $154 million, down from a stake valued at $436 million at the end of 2025 ¹.