Jane Street Rebuilds Nearly $1B Bitcoin ETF Position and Goes 60x on XRP ETF

Jane Street is rapidly rebuilding its exposure to crypto ETFs.
The Wall Street trading giant reported roughly $1 billion in Bitcoin ETF holdings at the end of Q2, more than doubling its reported position from the previous quarter.
The move marks a sharp reversal from Q1, when Jane Street aggressively reduced its exposure to major Bitcoin ETFs including BlackRock’s $IBIT and Fidelity’s $FBTC.
But the bigger percentage move came in XRP.
Jane Street increased its position in the Bitwise XRP ETF from just 20,605 shares at the end of Q1 to more than 1.2 million shares by June 30.
That is an increase of nearly 60x, with the position worth roughly $13-$14 million at quarter-end.
The filings show institutional participation in crypto ETFs continuing to broaden beyond Bitcoin and Ethereum.
But there is an important caveat.
Jane Street is one of the world’s largest ETF market makers, so 13F holdings can reflect market-making, hedging and client-flow activity rather than a simple directional bet on Bitcoin or XRP.
Still, the scale of the Q2 increase shows just how rapidly Wall Street’s regulated crypto exposure can shift.