A global trading firm described as “secretive” has revealed that part of its $13 bln daily equity trading is in Bitcoin.
Trading firm Jane Street Capital, which reportedly trades an average of $13 bln daily in equities across the globe, has included Bitcoin (BTC) in its traded assets, Business Insider reported today, March 17.
A statement from the company reads: “Jane Street trades over 56,000 products globally across a wide variety of asset classes, including Bitcoin.”
Unnamed sources told Business Insider that Jane Street, which was founded in 2000, only entered into crypto trading last year. The company’s website reports that $5.6 trln was traded across all products in 2017.
In February 2016, the company was described by the New York Times as a “secretive” ETF firm. While the profit numbers for Jane Street’s Bitcoin trading are not public, the company has noted that it will stay open to further involvement in the crypto markets:
“Jane Street has always taken a considered approach to trading opportunities and will continue to do so. As more cryptocurrency products emerge, we expect to be involved.”
Other Wall Street investors have also already jumped onto the crypto bandwagon. Major American investor Bill Miller told reporters in December 2017 that he had invested a whopping half of his hedge fund’s money in Bitcoin.
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Author: Molly Jane Zuckerman