Wall Street’s Most Secretive Firm Is Trading Bitcoin

  • Sylvia Greenfield
    📰 News

    Jane Street, one of Wall Street’s more secretive trading firms, said it trades Bitcoin, Business Insider reported


Wall Street’s Most Secretive Firm Is Trading Bitcoin

Jane Street, one of Wall Street’s more secretive trading firms, said it trades Bitcoin, Business Insider reported.

The trading firm entered the crypto space last year, according to people familiar with the matter and cited in the report. It’s not clear how the firm is betting on Bitcoin. Jane Street trades a range of products including ETFs, equities and futures.

The firm may trade more cryptocurrencies in the future. The company said in a statement:

"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.”

The firm says it trades $13 bln in equities worldwide on an average day. It’s known as having traders armed with PhDs, coding skills and market making guts.

Jane Street is another Wall Street firm newly involved in the crypto space. Goldman Sachs reportedly intends to set up a cryptocurrency trading desk this year. Other proprietary high-speed trading firms said to have been trading Bitcoin include DRW Holdings LLC, Susquehanna International Group LLP, Jump Trading LLC and Hudson River Trading LLC.

Cover image via u.today
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