Institutional Bold Move: Susquehanna Invests $1.1 Billion in Spot Bitcoin ETFs

Susquehanna International Group, known for its prowess in quantitative trading, has made a substantial investment exceeding $1.1 billion in Bitcoin exchange-traded funds (ETFs). The company's recent 13F SEC filing on May 7 unveiled the details and value of its Bitcoin ETFs portfolio as of March 31, 2024.

This significant investment reflects Susquehanna's strategic pivot towards digital assets, showcasing growing confidence among major institutional players in cryptocurrency as a legitimate asset class.

Susquehanna's Diverse Investment Portfolio: A Deep Dive into Spot Bitcoin ETF Holdings

Susquehanna's investment in spot Bitcoin ETFs spans across various prominent funds. The largest holding is in the Grayscale Bitcoin Trust (GBTC), amounting to approximately $1.09 billion for 17,271,326 shares. Other notable holdings include Fidelity Wise Origin Bitcoin BTC ETF (FBTC), BlackRock iShares Bitcoin Trust (IBIT), ARK 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), Valkyrie Bitcoin Fund (BRRR), Invesco Galaxy Bitcoin ETF (BTCO), VanEck Bitcoin ETF Trust (HODL), and WisdomTree Bitcoin ETF (BTCW).

Susquehanna's Bitcoin Futures and MicroStrategy Investments: A Diversified Approach to Crypto Exposure

In addition to spot Bitcoin ETFs, Susquehanna has significantly increased its exposure to Bitcoin futures through the ProShares Bitcoin Strategy ETF (BITO), now holding nearly 8 million shares valued at approximately $255.42 million.

The filing also reveals Susquehanna's investment in MicroStrategy (MSTR), a company holding a significant amount of Bitcoin. While Susquehanna reduced its stake in MicroStrategy by nearly 15% during a portfolio rebalancing, its total share count decreased from 287,180 in February to 244,863 in March.

Total US Bitcoin Spot ETF Net Inflow. Source:SoSo Value

Institutional Optimism: Susquehanna's Bitcoin ETF Investment Sparks Enthusiasm

Susquehanna's move has drawn attention within the crypto community, with enthusiasts expressing optimism about institutional adoption. This investment trend aligns with similar moves by other institutional investors, such as Hightower, indicating a growing interest in US spot Bitcoin ETFs.

Despite recent fluctuations, the overall trend suggests renewed interest and inflows into US spot Bitcoin ETFs, underscoring the evolving landscape of institutional participation in the cryptocurrency market.