Jane Street reports 20.3M IBIT shares in BlackRock Bitcoin ETF as of Q4 2025

Jane Street disclosed holding roughly 20.3 million shares of BlackRock's iShares Bitcoin Trust as of December 31, 2025. The Q4 2025 position has refocused attention on recurring sell pressure in Bitcoin and related ETFs around 10 AM ET. While rumors of coordinated suppression remain unverified, market-structure explanations such as hedging and arbitrage are also being discussed.