Billions of dollars Wall Street company began trading with Bitcoin last year

Jane Street, a secretive Wall Street firm which traded more than $5 trillion in 2017, has started trading Bitcoin, the company told Business Insider.

The secretive trading firm is known for its heavy focus on technology and weight in stock trading.

“Jane Street trades over 56,000 products globally across a wide variety of asset classes, including Bitcoin,” the company confirmed in a statement. Jane Street has over 600 employees and facilitates $13 billion in equity trading volumes a day, according to its website.

Arbitrage opportunities in crypto have been particularly lucrative. “There is sometimes 10% exchange arbitrage,” Toby Allen of trading firm Akuna Capital previously told Business Insider. “As a trader it is such an amazingly fun space to be in compared to traditional assets because of the spreads and technology gaps.”

“Jane Street has always taken a considered approach to trading opportunities and will continue to do so,” the firm told Business Insider. “As more cryptocurrency products emerge, we expect to be involved.”


Write: Sara Bauer


 

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