Jane Street boosts Q3 Fidelity BTC ETF holdings eightfold to about $509M

Wall Street market maker Jane Street increased its holdings of Fidelity’s spot Bitcoin ETF, FBTC, by about eightfold in the third quarter, Cointelegraph reported, citing a U.S. SEC filing. Its FBTC position rose from about 887,000 shares at the end of the second quarter to 7.01 million shares at the end of the third quarter, with the stake valued at about $509 million. By contrast, its holdings of BlackRock’s spot Bitcoin ETF, IBIT, fell about 19% to 20.22 million shares from 24.88 million, although the position’s value increased to $957 million from $828 million as the share price rose. The report added that Jane Street also acquired about 9 million additional shares of the ARK 21Shares Bitcoin ETF, ARKB, and increased its holdings of BlackRock’s spot Ethereum ETF, ETHA, by 7.83 million shares. Jane Street had previously faced allegations that it drove BTC prices lower through algorithmic selling at 10:00 a.m. U.S. time each day.