Susquehanna Asset Manager Locks $1.8 Billion in Bitcoin (BTC) ETFs: A Major Move in Crypto Investment

  • Asset Manager Susquehanna International Group, LLP (SIG) holds $1.8 billion worth of shares in multiple U.S. Bitcoin ETF products, according to recent SEC filings.
  • This represents one of the largest known allocations to Bitcoin ETFs among any asset manager or hedge fund.
  • Susquehanna’s largest allocation is with Grayscale, holding $1.092 billion in BTC as of the reporting date.

Discover how Susquehanna International Group, a global trading and investment firm, has invested $1.8 billion in Bitcoin ETFs, marking one of the largest known allocations in the crypto industry.

Susquehanna’s Massive Investment in Bitcoin ETFs

Susquehanna International Group, a global trading and investment firm with $438 billion in assets under management, has revealed a significant investment in Bitcoin ETFs. According to a recent 13F-HR filing submitted to the Securities and Exchange Commission (SEC), Susquehanna holds $1.8 billion worth of shares in multiple U.S. Bitcoin ETF products. This allocation, though just a fraction of its total investments, is a far larger position than any witnessed for Q1 2024 so far.

Details of Susquehanna’s Bitcoin ETF Holdings

Last quarter marked the first reporting period in which asset managers had access to purchase Bitcoin spot ETFs. Susquehanna holds positions in nine Bitcoin spot ETFs, with its largest allocation being with Grayscale, holding $1.092 billion in BTC as of the reporting date. The next largest holding was in Fidelity’s Bitcoin ETF at $83.7 million. Despite most of the ETFs operating identically, Susquehanna has chosen to diversify its holdings. The firm also holds positions in several Bitcoin futures and leveraged futures ETFs, such as over $400 million in the ProShares Bitcoin Strategy ETF and over $8.5 million in the Valkyrie Bitcoin Mining ETF.

Implications of Susquehanna’s Bitcoin ETF Investments

The reporting period ended on March 31, when BTC traded for $71,000 at the daily close, compared to $62,200 as of May 7. Assuming the asset manager’s ETF shareholdings have stayed flat since then, their market value – designed to track BTC’s value – has likely plunged as well. This massive investment represents one of the largest known allocations to Bitcoin ETFs among any asset manager or hedge fund, particularly those who use the ETFs as their preferred investment vehicle.

Conclusion

Susquehanna’s substantial investment in Bitcoin ETFs underscores the growing interest and acceptance of cryptocurrency among traditional financial institutions. As more asset managers begin to diversify their portfolios with Bitcoin and other cryptocurrencies, it will be interesting to see how this impacts the overall crypto market in the long term.

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