A significant increase in Bitcoin holdings by Susquehanna International Group, a major asset management firm, has been revealed through the acquisition of shares in various exchange-traded funds (ETFs). According to a filing with the Securities and Exchange Commission, the firm held $1.2 billion in spot ETFs as of the first quarter of 2024. This includes 17,271,326 shares in the Grayscale Bitcoin Trust, valued at approximately $10.9 billion, showcasing a strong investment that reflects the firm’s confidence in Bitcoin.
Moreover, Susquehanna has diversified its portfolio with investments in other ETFs such as Fidelity’s Bitcoin ETF and ProShares Bitcoin Strategy ETF, demonstrating a comprehensive approach to Bitcoin investment. This strategic selection highlights the firm’s intention to leverage various aspects of the Bitcoin market.
Julian Fahrer, CEO and co-founder of Apollo, expressed optimism about institutional interest in cryptocurrency investments following this development. He identified Susquehanna as the largest Bitcoin ETF investor to date.
Overall, Susquehanna’s strategic investment is expected to boost Bitcoin’s credibility and stability as a financial asset. Despite the significant allocation to Bitcoin ETFs, it remains a small portion of Susquehanna’s total portfolio, indicating a cautious yet positive entry into the digital asset space.