Jane Street’s Bitcoin ETF Exposure Hits $1B, Goes 5X Bigger On XRP In Q2

Jane Street had several positions, such as a $14.1 million stake in XRP Etfs with its largest stake in Bitwise XRP ETF.

• Jane Street doubled its Bitcoin ETF holdings in Q2 to about $1.01 billion from $438.4 million in Q1, a roughly $570 million increase.
• The trading firm’s exposure to the XRP ETF swelled more than fivefold to some $17 million from $3.3 million, marking a 420% rise quarter-over-quarter.
• Jane Street’s largest Bitcoin ETF position remained BlackRock’s IBIT at almost $800.5 million, while the company also held FBTC, ARKB, BITB and GBTC.

Jane Street more than doubled its exposure to Bitcoin (BTC) exchange-traded funds (ETFs) in the second quarter (Q2) and saw its holdings of XRP ETFs surge more than fivefold, according to its latest 13F filing.

As of June 30, the trading firm reported Bitcoin ETF holdings of approximately $1.01 billion, up from $438.4 million at the end of the first quarter. That’s an increase of about $570 million, or 130%. 

Jane Street’s exposure to XRP ETFs grew even faster, to about $17 million at the end of the second quarter, from about $3.3 million three months earlier. That is an increase of about $13.7 million, or 420%.

The firm’s Bitcoin ETF exposure includes BlackRock’s iShares Bitcoin Trust ETF (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB) and Grayscale Bitcoin Trust ETF (GBTC). 

In the Q2 filing, Jane Street disclosed an IBIT holding valued at around $800.5 million, its largest Bitcoin ETF holding by a significant margin, after it reduced its stake in IBIT by 71% last quarter. 

XRP ETF Exposure Expands

Jane Street also held several XRP ETFs in Q2. Its filing disclosed a position of around $14.1 million in the Bitwise XRP ETF (XRP), and holdings in the 21Shares XRP ETF (TOXR), Canary XRP ETF (XRPC), REX-Osprey XRP ETF (XRPR), Franklin XRP ETF (XRPZ), and Grayscale XRP Trust ETF (GXRP).

XRP’s price edged 0.2% lower in the last 24 hours and was one of the top trending tickers on Stocktwits at the time of writing. Retail sentiment around XRP remained in the ‘bearish’ zone, while chatter around it shifted to ‘normal’ from ‘high’ levels over the past day.

One user on Stocktwits called the XRP token a ‘GLORIFIED STABLE COIN,’ citing insider selling with no utility for the token.

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Bitcoin ETFs See Choppy Flows 

This comes at a time when Bitcoin spot ETFs have seen a choppy flow pattern in recent weeks, with large outflows in late July and early August followed by a brief period of positive flows. The market saw net outflows for much of June and July, and another wave of selling in early August before inflows resumed in the latest week. The recent bounce shows some renewed demand for spot Bitcoin ETFs, though the broader flow trend is mixed.

Bitcoin’s price was up by over 1% during the past 24 hours, attempting to hold above $64,000. On Stocktwits, Bitcoin was also one of the top trending tickers as retail sentiment around BTC remained in the ‘bearish’ zone, while chatter around it stayed at ‘normal’ levels over the past day. 

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However, some users on Stocktwits remained optimistic, with one user hinting that the long-term price trend of Bitcoin is above its 200-week moving average, a level that has historically provided major support during major market cycles.

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