Jane Street Rebuilds Bitcoin ETF Stake to Over $1 Billion Led by BlackRock's IBIT as BlackRock Defends BTC Investment Case

Jane Street Group disclosed more than $1 billion in spot Bitcoin ETF holdings as of June 30, 2026, according to its latest 13F filing, sharply reversing a 71% cut made in the first quarter. BlackRock's iShares Bitcoin Trust, IBIT, accounted for the largest single position at roughly $828 million, with Fidelity's Wise Origin Bitcoin Fund making up much of the remainder. The rebound in Jane Street's position comes as Bitcoin has pulled back approximately 50% from its highs, a move BlackRock addressed directly in a new report released this week, calling the decline a positioning correction rather than a structural break and arguing that a 1-2% allocation to Bitcoin can still improve risk-adjusted returns in a traditional 60/40 portfolio.

BlackRock and VanEck both noted that the same institutional infrastructure that accelerated adoption, including ETF inflows and leverage, also amplified the sell-off. Bitcoin ETFs themselves returned to positive territory on Monday, drawing $297.56 million in net inflows to end a three-session outflow streak, with BlackRock and Fidelity leading that rebound. Separately, Intesa Sanpaolo, Italy's largest bank, moved in the opposite direction, slashing its IBIT exposure and disclosing a $966.42 million stake in SpaceX stock instead.

Bitcoin was testing the $65,000 level as of Tuesday, with Citi also preparing to offer bitcoin custody through its Custody+ platform, adding further institutional infrastructure around the asset.