Susquehanna International Group Explores into Bitcoin ETFs with a $1.3 Billion Investment

Susquehanna Bitcoin

In a significant move that underscores the growing institutional interest in cryptocurrencies, Susquehanna International Group, a global proprietary trading firm, has disclosed a whopping $1.3 billion investment in Bitcoin Exchange-Traded Funds (ETFs).

According to a 13F filing with the U.S. Securities and Exchange Commission (SEC) on May 7, 2024, Susquehanna’s investment is spread across multiple Bitcoin ETFs. The firm reported holding 17.3 million shares of Grayscale’s GBTC across three separate investments, which make up $1.1 billion of the total.

In addition to Grayscale, Susquehanna has also invested in several other Bitcoin ETFs. These include 1.3 million shares of Fidelity’s FBTC worth $83.7 million, 583,049 shares of BlackRock’s IBIT worth $23.6 million, 560,832 shares of Bitwise’s BITB worth $21.7 million, and 508,824 shares of Ark 21Shares’s ARKB worth $36.1 million.

The company also purchased 256,354 shares of VanEck’s HODL worth $20.6 million, 255,814 shares of WisdomTree’s BTCW worth $19.3 million, 166,200 shares of Invesco’s BTCO worth $11.8 million, and 192,391 shares of Valkyrie’s BRRR worth $3.9 million.

This diverse set of investments in Bitcoin ETFs is an interesting note, however, it only grows optimism in the world’s leading cryptocurrency nonetheless. Susquehanna International is one of the largest proprietary trading firms in the world. The firm works in trading essentially all listed financial products and asset classes, with a focus on derivatives and handles millions of transactions on exchanges around the world every day.

The firm’s foray into Bitcoin ETFs represents the largest recorded holding to date of the asset. The success of Spot Bitcoin ETFs has been undeniable. Since SEC approval in January 2024, the ETF market has been taken over by Bitcoin. Thus, since the start of the year, the asset has skyrocketed to all-time highs.

Susquehanna’s investment is a testament to the increasing institutional attention dedicated to Bitcoin. It also raises the interest of other asset management firms in Bitcoin and exchange-traded funds. Trillions of dollars have gone into these assets over the past few months, and the train doesn’t appear to be slowing down.

In conclusion, Susquehanna’s massive investment in Bitcoin ETFs is a clear indication of the growing institutional interest in cryptocurrencies. It also underscores the increasing acceptance of Bitcoin as a legitimate and valuable asset class.

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