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Jane Street Reveals $990M Bitcoin ETF Stake Amid $15B Trading Loss in July
Jane Street disclosed a $990 million position in Bitcoin ETFs as of June 30, primarily in BlackRock's iShares Bitcoin Trust, according to an SEC filing. This disclosure coincided with the firm's announcement of a $15 billion trading loss in July, its worst month in a decade, largely due to margin calls linked to an AI hedge fund and weak Asian equity bets.
However, Jane Street operates mainly as a market maker rather than a directional investor, so the large Bitcoin ETF position likely reflects hedging or client demand rather than bullish sentiment. The current size of this position remains unknown until the next SEC filing in November.
President Trump Scheduled for White House Crypto Summit as CLARITY Act Stalls
Trump is hosting the White House crypto meeting Wednesday alongside CFTC Chairman Michael Selig and SEC Chairman Paul Atkins.
Executives from crypto and prediction-market companies, including Coinbase, Robinhood, Ripple, Gemini, Kalshi and Polymarket, are expected to participate.
ETF analyst Nate Geraci said on Monday that the meeting is also expected to include executives from traditional financial heavyweights such as Nasdaq, NYSE, CME and DTCC.
Geraci sees the gathering as evidence that the administration may not wait for Congress to pass comprehensive crypto market-structure legislation.
Michael Saylor Says Don't Invest in Bitcoin Unless You’ll Hold It for Over 4 Years
Strategy Inc. Chair Michael Saylor advised investors on Monday to take a long-term approach to Bitcoin and refrain from investing unless they plan to hold it for at least four years.
During a Q&A session with Strategy’s shareholders, Saylor said the ongoing bear market has made things a bit “tougher,” but reaffirmed the company’s commitment to continuing its Bitcoin purchases.
“If you’re a short-term price predictor, you’re a trader, I don’t really have much useful wisdom for you,” Saylor said. “My advice is: don’t invest in Bitcoin unless you’re going to hold it for more than four years. Ideally, hold it for 10 years.”
Saylor cautioned investors to be prepared for “difficult” years ahead. “We might have to actually ride through some number of months or a year or two to get to the point where things start to work to the benefit of the equity,” the Bitcoin bull stated.
Bitcoin & Ethereum Spot ETF Flow
The overall net inflow of the US Bitcoin spot ETF on Monday was $137.32 million. The total net asset value of Bitcoin spot ETFs is $77.41 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 2.36%.
The Bitcoin spot ETF with the highest net inflow on Aug 17 was Fidelity Wise Origin Bitcoin Fund, with a net outflow of $111.9 million, according to SoSoValue.