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Jane Street's FBTC stake rose to 7.01 million shares, about eightfold, worth $509 million. BlackRock IBIT stake declined about 19% to roughly 20.2 million shares.
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Jane Street reshuffles ETFs
Jane Street nearly octupled its stake in Fidelity’s Wise Origin Bitcoin Fund, ending the third quarter with 7.01 million shares valued at $509 million. Jane Street simultaneously cut its iShares Bitcoin Trust ETF position by 19%, reducing its share count to 20.22 million shares, even as the reported value rose to $957 million. Jane Street also added nearly 9 million shares of the ARK 21Shares Bitcoin ETF (ARKB), worth about $249 million, and more than doubled its stake in BlackRock’s iShares Ethereum Trust ETF (ETHA) with an addition of 7.83 million shares valued at roughly $158 million.
JPMorgan Chase increased its IBIT stake by 9.6% to 11.41 million shares, while nearly exiting ETHA by cutting it from 1.17 million shares to just 399. Across 1,389 institutions that filed third-quarter reports, disclosed spot Bitcoin ETF holdings totaled $5.25 billion, with banks holding $258 million or 4.9% of the total.
Other banks adjust exposure
JPMorgan Chase increased its IBIT holdings by 9.6% in the third quarter, adding about 1 million shares to reach 11.41 million, with the reported position rising to around $540 million. Laurore reduced its IBIT holdings by 33%, cutting its position by 1.6 million shares to 3.25 million, worth approximately $154 million by the end of Q3. Barclays expanded Bitcoin ETF exposure, with Barclays holding 3.94 million IBIT shares worth $187 million at the end of September, a 48% increase from the prior quarter.
Citigroup disclosed about $119 million in Fidelity’s FBTC and lifted its IBIT shares to roughly 521,000 from 347,000, an increase of about 50%. The filings showed investment advisers remained the dominant group at about $3.5 billion, or 66.6% of institutional holdings.
What the filings imply
The third-quarter disclosures described the changes as a reshuffle across competing spot Bitcoin ETF products, with Jane Street moving from a larger IBIT share count toward Fidelity’s FBTC and ARK 21Shares Bitcoin ETF (ARKB). The filings also framed the activity as positioning across issuers, with the data showing disclosed spot Bitcoin ETF holdings rising to $5.25 billion across 1,389 filers. The reporting cautioned that IBIT gained about 41% in price during the third quarter, so part of the reported increase in position values could reflect market appreciation rather than fresh buying.
The reporting also emphasized that share counts, rather than valuations, offered a cleaner picture of actual accumulation. The reporting further noted that the filing reflected positions as of September 30, 2026, and did not capture any trading Jane Street did afterward.
