Quant trading firm Jane Street has revealed it holds over $1 billion in U.S. spot Bitcoin exchange-traded funds (ETFs) as of the second quarter of this year. The disclosure came via the firm's latest Form 13F filing with the Securities and Exchange Commission (SEC) on August 14th.

According to the filing, BlackRock's iShares Bitcoin Trust (IBIT) dominates Jane Street's crypto portfolio, with the firm holding roughly $828 million in the product. The firm also holds positions in Fidelity's FBTC and Grayscale's GBTC, among others.

Beyond Bitcoin, the filing revealed a significant expansion in XRP ETF exposure. Jane Street increased its stake in Bitwise's spot XRP ETF to over 1.2 million shares, up from just 20,605 shares in the previous quarter. The firm also reported positions in XRP products from Franklin Templeton, Grayscale, Canary Capital, and 21Shares.

While the numbers represent a serious increase from the first quarter, the holdings should not necessarily be interpreted as a one-sided bullish bet on Bitcoin. As one of the largest market makers in the industry, Jane Street's positions are subject to change, and the 13F filing only provides a quarter-end snapshot of long positions. It does not show the firm's complete short, futures, swaps, or exposure to other derivative products.