- Susquehanna International Group, a global quantitative trading firm, has disclosed its $1.3 billion investment in 10 Spot Bitcoin Exchange Traded Funds (ETFs) in the United States.
- The firm has purchased almost 17,271,326 shares in the Grayscale Bitcoin Trust (GBTC), valued at about $1.09 billion.
- Other significant investments include more than $83 million in the Fidelity Wise Origin Bitcoin Fund (FBTC) and stakes in Bitcoin ETFs issued by asset managers like VanEck, WisdomTree, Invesco Galaxy, Valkyrie, and Franklin Templeton.
Susquehanna International Group reveals a $1.3 billion investment in 10 Spot Bitcoin ETFs, marking a significant move in the crypto investment space.
Susquehanna’s Massive Investment in Bitcoin ETFs
Susquehanna International Group, a renowned global quantitative trading firm, has recently announced its significant investment in the cryptocurrency market. The firm has invested approximately $1.3 billion in 10 Spot Bitcoin Exchange Traded Funds (ETFs) in the United States. This move indicates the firm’s strong belief in the potential of Bitcoin and its growing acceptance in the mainstream financial market.
Details of the Investment
The firm’s investment is spread across several Bitcoin ETFs. It has purchased almost 17,271,326 shares in the Grayscale Bitcoin Trust (GBTC), valued at about $1.09 billion. In addition, Susquehanna has invested more than $83 million to purchase 1,349,414 shares of the Fidelity Wise Origin Bitcoin Fund (FBTC). The firm’s other Bitcoin ETF investments include Ark 21shares Bitcoin ETF (ARKB), iShares Bitcoin ETF (IBIT), Bitwise Bitcoin ETF (BITB), etc. The platform also holds investments in Bitcoin ETFs issued by asset managers like VanEck, WisdomTree, Invesco Galaxy, Valkyrie, and Franklin Templeton.
Investment in ProSagres Bitcoin Strategy ETF
According to investment research firm Fintel, Susquehanna International Group has also invested in the ProSagres Bitcoin Strategy ETF (BITO), which offers investors exposure to Bitcoin Futures contracts. The report stated that the company owned 7,907,827 shares of BITO as of March 31, valued at around $255.42 million. This marked a 57.59% increase from a February filing that listed 5,021,149 shares.
Indirect Exposure to Bitcoin’s Spot Price
Reports suggest that the company had indirect exposure to Bitcoin’s spot price through MicroStrategy, the largest holder of the pioneer cryptocurrency. However, the platform reduced its shares in MicroStrategy by almost 15%, from 287,180 shares in February to 244,863 on March 31.
Conclusion
Susquehanna International Group’s massive investment in Bitcoin ETFs underscores the growing institutional interest in the cryptocurrency market. Despite the recent dip in Bitcoin’s price, the firm’s investment strategy indicates a long-term bullish outlook on the cryptocurrency. As Bitcoin continues to gain mainstream acceptance, it is expected that more institutional investors will follow Susquehanna’s lead in the future.
