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Jane Street Capital now holds over 5% of Coinbase stock Jane Street Capital now holds over 5% of Coinbase stock

Jane Street Capital now holds over 5% of Coinbase stock

The firm held less than 2% of the crypto exchange's outstanding shares in December 2023.

Jane Street Capital now holds over 5% of Coinbase stock

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Jane Street Capital has accumulated substantial Coinbase stock.

According to financial intelligence site Fintel, Jane Street owned 5.3% of Coinbase’s outstanding shares in February.

COIN was valued at $140.86 at the time of the company’s 13G filing on Feb. 9, placing the value of its holdings at $1.4 billion.

At a current share price of $236.40, the same shares are worth approximately $2.4 billion, though it is unclear whether Jane Street’s holdings have changed since February.

Jane Street’s current holdings represent an increase from previous months. Yahoo! Finance indicates that Jane Street held just 1.92% of outstanding shares in December, valued at $888 million.

Jane Street among largest investors

Jane Street is now among the largest investors in Coinbase’s public stock.

Vanguard Group notably exceeds Jane Street’s holdings. According to Fintel, Vanguard held 7.44% of outstanding Coinbase shares in February.

Yahoo! Finance data indicates that other companies have invested significantly in Coinbase. One top investor is the world’s largest asset manager, BlackRock, which held 4.36% of outstanding Coinbase shares in December.

Nikko Asset Management Americas held 2.64% of outstanding Coinbase shares, while the crypto-focused VC firm Paradigm held 2.31% of outstanding shares. Cathie Wood’s investment management firm Ark Invest, meanwhile, held 2.26% of outstanding shares as of the end of the first quarter.

Wall Street leans in on crypto

Jane Street Capital is a major trading firm and one of the largest market makers. As such, it is highly notable that the firm has invested in Coinbase, which has become one of the highest-cap publicly traded crypto companies since going public in April 2021.

However, Coinbase is just one option for institutional investors seeking exposure to the crypto sector now that the SEC has approved spot Bitcoin ETFs.

Various companies’ recent 13F filings show that institutional investors are becoming interested in spot Bitcoin ETFs from BlackRock, Fidelity and Grayscale.

Spot Bitcoin ETFs have accumulated a market capitalization of more than $58 billion in less than four months of trading, with BlackRock’s IBIT notable recording inflows for 70 consecutive trading days โ€” making it one of the best performing ETF launches in history.

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