Wall Street trading firm Jane Street has drastically cut its exposure to Grayscale Bitcoin Trust (GBTC) by 85% in the second quarter of this year. The firm acquired 6,474,742 shares of the newly launched BlackRock iShares Bitcoin Trust ETF (IBIT), valued at $221 million, marking its first investment in this spot Bitcoin ETF.
Jane Street has also significantly increased its holdings in several other Bitcoin ETFs. The firm’s investment in the Fidelity Wise Origin Bitcoin Fund (FBTC) grew by 1,472,906 shares, or 46%, bringing the total value of its holdings to $233 million, up from 2,984,656 shares in the previous quarter.
Additionally, Jane Street expanded its stake in the Invesco Galaxy Bitcoin ETF (BTCO) by 123,033 shares, a 142% increase, raising its investment to $12.53 million. The firm also boosted its holdings in the Franklin Bitcoin ETF (EZBC) by 252,360 shares, a 187% increase, with the value rising to $13.48 million.
Conversely, Jane Street reduced its investments in several other Bitcoin-related funds. The firm sold 940,927 shares of the Bitwise Bitcoin ETF (BITB), a 68% reduction, leaving its holding valued at $14.664 million. It also cut its position in the ARK 21Shares Bitcoin ETF (ARKB) by 423,617 shares, a 12% decrease, with the remaining shares worth $177 million. Additionally, Jane Street reduced its exposure to the VanEck Bitcoin Trust (HODL) by 34,657 shares, a 52% decrease, resulting in a holding value of $22.04 million.
