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

Jane Street Capital has reportedly amassed a significant amount of Coinbase stock, according to financial intelligence site Fintel. As of February, Jane Street owned 5.3% of Coinbase's outstanding shares, representing a substantial investment in the cryptocurrency exchange.

At the time of the company's 13G filing on February 9, Coinbase's stock (COIN) was valued at $140.86, placing the value of Jane Street's holdings at $1.4 billion. With the current share price of $236.40, the same shares are now worth approximately $2.4 billion, although it remains uncertain whether Jane Street's holdings have changed since February.

Jane Street's current holdings signify a significant increase from previous months. Yahoo! Finance data reveals that in December, Jane Street held just 1.92% of outstanding shares, valued at $888 million.

Jane Street now ranks among the largest investors in Coinbase's public stock, although its holdings are surpassed by Vanguard Group, which held 7.44% of outstanding shares in February. Other notable investors in Coinbase include BlackRock, Nikko Asset Management Americas, Paradigm, and Ark Invest, each holding substantial percentages of outstanding shares.

The investment by Jane Street Capital, a major trading firm and market maker, underscores the growing interest of Wall Street in the cryptocurrency sector. With Coinbase being a prominent player in the industry since going public in April 2021, institutional investors are increasingly seeking exposure to the crypto market, particularly with the recent approval of spot Bitcoin ETFs by the SEC.

Recent 13F filings by various companies indicate a rising interest in spot Bitcoin ETFs offered by BlackRock, Fidelity, and Grayscale. These ETFs have quickly accumulated a market capitalization exceeding $58 billion in less than four months of trading, with BlackRock's IBIT experiencing notable inflows for 70 consecutive trading days, establishing itself as one of the most successful ETF launches in history.