Jane Street Expands Fidelity Bitcoin ETF Holdings in Q3
The trading giant increased its Fidelity fund position eightfold while trimming its BlackRock ETF stake.
Jane Street significantly increased its position in the Fidelity Wise Origin Bitcoin Fund during the third quarter. The firm ended the period with 7.01 million shares of the fund, a sharp jump from the 887,000 shares held at the end of June. The total value of this stake reached 509 million dollars on September 30.
In an opposite move, the trading firm reduced its exposure to BlackRock's iShares Bitcoin Trust. The number of shares fell from 24.88 million to 20.22 million during the same interval. Despite the reduction in volume, the appreciation of the shares pushed the value of the position to 957 million dollars.
Jane Street's diversification strategy included other digital assets. The firm added approximately 9 million shares of the ARK 21Shares ETF, totaling about 249 million dollars. Additionally, the company more than doubled its holdings in BlackRock's iShares Ethereum Trust.
Other financial institutions also adjusted their crypto asset portfolios during the period. JPMorgan increased its presence in the BlackRock fund by 9.6 percent, reaching 11.41 million shares. On the other hand, the bank drastically reduced its direct exposure to the same manager's Ethereum fund.
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