$1.1 billion invested in ETFs
Susquehanna International Group, a leader in quantitative trading, has significantly expanded its portfolio by investing more than $1.1 billion in Bitcoin exchange-traded funds (ETFs). The company's recent 13F SEC filing on May 7 revealed the composition and value of their portfolio of Bitcoin ETFs as of March 31, 2024.
The company's latest move marks a significant shift in strategy towards digital assets. This high investment also provides growing confidence among the main institutional players in cryptocurrency as a viable asset class.
From Grayscale to Wisdomtree: Exploring Susquehanna's Bitcoin ETF Options
Susquehanna's search for spot Bitcoin ETFs includes various holdings in various major currencies. The largest holding is in Grayscale Bitcoin Trust (GBTC), Susquehanna has invested approximately $1.09 billion for 17,271,326 shares.
Additionally, the firm holds 1,349,414 shares in Fidelity Wise Origin Bitcoin BTC ETF (FBTC), valued at $83.74 million. BlackRock iShares Bitcoin Trust (IBIT) also has 583,049 shares as part of its portfolio, worth about $23.6 million.
Read more: What is a Bitcoin ETF?
Additional investments included $536.1 million in 508,824 shares of the ARK 21Shares Bitcoin ETF (ARKB) and $21.71 million in 560,832 shares in the Bitwise Bitcoin ETF (BITB). Smaller but more significant holdings include Valkyrie Bitcoin Fund (BRRR), with 192,391 shares valued at $3.87 million. Meanwhile, Invesco Galaxy Bitcoin ETF (BTCO) owns 166,200 shares worth $11.8 million.
Additionally, the VanEck Bitcoin ETF Trust (HODL) holds 256,354 shares worth $20.6 million. Finally, Susquehanna invested in WisdomTree Bitcoin ETF (BTCW), holding 255,814 shares valued at $19.29 million.
In addition to identifying Bitcoin ETFs, Susquehanna has also significantly increased its exposure to Bitcoin futures. He did this through the ProShares Bitcoin Strategy ETF (BITO), which now holds nearly 8 million shares worth $255.42 million.
Moreover, the record shows that Susquehanna holds the highest Bitcoin (BTC) volume ever held by a public company in MicroStrategy (MSTR). However, Susquehanna reduced its stake in MicroStrategy by 15% during portfolio rebalancing. As a result, the total number of stocks decreased from 287,180 in February to 244,863 in March.
This move by Susquehanna has attracted attention in the crypto community. Building on this enthusiasm, Crypto YouTuber Healthy Pockets took the excitement to X (Twitter).
“Institutional adoption is getting better and is just getting started,” Healthy Pockets wrote.
Additionally, Susquehanna's move coincides with a trend seen by other institutional investors. For example, New York-based asset manager Hightower has raised investments in Bitcoin ETFs. BeInCrypto previously reported that Hightower's investments totaled $68.35 million in various Bitcoin ETFs.
Read more: How to trade Bitcoin ETF: A step-by-step approach
Susquehanna and Hightower's actions bolster renewed interest in U.S. spot Bitcoin ETFs. After experiencing seven consecutive days of outflows, US spot Bitcoin ETFs finally closed in at $378.24 million and $217.06 on May 3 and 6, respectively. However, according to Soso Value's latest data, US spot Bitcoin ETFs recorded a small inflow of $15.64 million on May 7.
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