Just one quarter ago, Jane Street looked like one of Michael Saylor’s most committed institutional backers.
But now, things appear to be changing
In their latest filing, Jane Street revealed that they have significantly reduced their position in Strategy (NASDAQ: MSTR). Jane Street cuts down on Strategy In the fourth quarter of 2025, Jane Street held 951,187 total common shares of Strategy, valued at $144.5 million. However, there is now a swift and steep reversal.
In the quarter, Jane Street cut its Strategy shares by 78% to 209,833 shares valued at $26.2 million. The Strategy pullback is part of a broader rotation in the first quarter of 2026. Jane Street sharply cut its exposure to spot Bitcoin ETFs during the quarter, trimming its iShares Bitcoin Trust (IBIT) position by roughly 71% and its Fidelity Wise Origin Bitcoin Fund (FBTC) stake by around 60%.