Jane Street “10 a.m. dump” theory questioned as Bitcoin ETFs log $1B+ inflows
Online speculation around the Jane Street 10 a.m. Bitcoin dump claims intensified this week after a lawsuit tied to Terraform Labs’ 2022 collapse, but multiple analysts said the data doesn’t support a reliable, company-driven daily selloff and spot Bitcoin ETF demand turned positive again.
What’s driving the Jane Street 10 a.m. Bitcoin dump claims
The rumor centers on Bitcoin allegedly dropping shortly after 10 a.m. ET (around the U.S. market open), with claims that a large quantitative firm could be programmatically selling to push prices down. The narrative gained traction after Terraform Labs’ court-appointed administrator filed suit against Jane Street, alleging insider trading related to Terra’s May 2022 collapse.
What analysts cite in the Jane Street 10 a.m. Bitcoin dump claims debate
Several observers argued that public holdings disclosures can’t reveal full net exposure if a firm is hedged via options or futures, which can fuel speculation about “hidden” positioning. However, market researchers and analysts pushed back on the idea that the 10 a.m. window shows a persistent, firm-led dump.
In the Cointelegraph-syndicated report, analysts noted that delta-neutral strategies (spot exposure hedged with futures) are common across sophisticated funds, and that Bitcoin is a globally traded market where it’s difficult for a single entity to enforce a prolonged bear trend.
Spot Bitcoin ETF flows turn positive after a 5-week outflow run
U.S. spot Bitcoin ETFs recorded three consecutive inflow days:
Feb. 24, 2026: +$257.7M
Feb. 25, 2026: +$506.6M
Feb. 26, 2026: +$254.4M
That’s roughly +$1.0187B over three days, based on Farside Investors’ daily totals.
DeFi: Aave hits $1T lending volume; Curve urges “real revenue”
Aave reported surpassing $1 trillion in cumulative lending volume, framing it as a milestone for onchain credit markets as institutional participation expands.
Separately, Curve founder Michael Egorov argued DeFi protocols should pivot away from token-emission-driven yields toward sustainable revenue, noting that DeFi total value locked fell materially over the last six months (as tracked by DefiLlama)
Ethereum watch: Vitalik’s ETH reduction and corporate treasury pressure
Ethereum co-founder Vitalik Buterin’s tracked wallets decreased by about 17,000 ETH over roughly a month, with reporting indicating sales were routed through CoW Protocol in smaller swaps often used to reduce market impact.
On the corporate side, reporting on Bitmine Immersion Technologies highlighted large unrealized (paper) losses amid Ether’s drawdown, with third-party tracking cited for cost basis and loss estimates.
Context & Analysis
Two themes stood out: (1) social-media market microstructure theories can spread faster than verifiable evidence, and (2) flows and fundamentals (ETF creations/redemptions, protocol revenue, and treasury cost bases) are increasingly used as “reality checks” in a downturn.
Final Thoughts
For now, analysts are disputing the idea of a predictable, single-firm “10 a.m.” Bitcoin dump, while the return of multi-day spot Bitcoin ETF inflows suggests demand can reappear quickly even amid heated manipulation narratives. Meanwhile, DeFi’s messaging is shifting toward measurable revenue and institutional rails.
FAQs
Q : What are the Jane Street 10 a.m. Bitcoin dump claims?
A : They are allegations that Jane Street routinely pushes Bitcoin prices down around 10 a.m. ET using programmatic selling strategies. Analysts cited in reports say there is no strong evidence of a consistent or repeatable pattern supporting this claim.
Q : Why did the rumor spread this week?
A : The claims gained traction after Terraform Labs’ court-appointed administrator filed a lawsuit accusing Jane Street of insider trading related to the Terra ecosystem’s collapse in May 2022.
Q : Did spot Bitcoin ETFs actually see inflows again?
A : Yes. Data compiled by Farside Investors shows net inflows of about $257.7M (Feb 24), $506.6M (Feb 25), and $254.4M (Feb 26) roughly $1.019B combined.
Q : Can a single firm easily control Bitcoin’s long-term price?
A : Analysts argue this is very unlikely. Bitcoin trades across many global venues with fragmented liquidity, making it difficult for any single firm to enforce a sustained long-term bear market on its own.
Q : What does Aave’s $1T lending figure mean for DeFi?
A : For Aave, surpassing $1 trillion in cumulative lending is a major milestone. It signals scale and maturity in on-chain credit markets and aligns with growing institutional-facing DeFi initiatives focused on sustainable usage.
Q : Why is DeFi talking about “real revenue” instead of token emissions?
A : The founder of Curve Finance argued that future yields should primarily come from actual protocol revenues (fees) rather than inflationary token incentives, as user risk appetite and incentive dynamics have evolved.
Q : What happened with Vitalik Buterin’s ETH holdings?
A : Blockchain analytics from Arkham indicated that Vitalik Buterin’s Ether balance dropped by roughly 17,000 ETH over about a month, with swaps routed through CoW Protocol.
Facts
Event
Rumors of a daily “10 a.m.” Bitcoin selloff linked to Jane Street face analyst pushback as U.S. spot Bitcoin ETF flows turn positive.Date/Time
2026-02-28T00:26:09+05:00Entities
Jane Street; Terraform Labs (in liquidation / wind-down); Bitcoin (BTC); BlackRock iShares Bitcoin Trust (IBIT); CryptoQuant; Farside Investors; Aave; Curve Finance; Vitalik Buterin; CoW Protocol.Figures
Spot Bitcoin ETF totals: +$257.7M (Feb 24, 2026), +$506.6M (Feb 25), +$254.4M (Feb 26) ≈ +$1.019B
Alleged disclosed IBIT holding cited in debate: $790M (as referenced in reporting)
Aave cumulative lending: $1T
Vitalik balance change: ~241,000 ETH to ~224,000 ETH (~17,000 ETH)
Quotes
“Everyone says Bitcoin dumps at 10 AM every day. I pulled the data, and it’s not true,” Alex Krüger (as quoted in report)
Sources
WSJ + FT (Terraform/Jane Street lawsuit), TradingView/Cointelegraph (analyst pushback), Farside Investors (ETF flows)