Susquehanna International Group, a major asset management firm, has significantly increased its Bitcoin holdings through the acquisition of shares in various exchange-traded funds (ETFs). A filing with the Securities and Exchange Commission revealed that the firm held $1.2 billion in spot ETFs as of the first quarter of 2024. This move includes 17,271,326 shares in the Grayscale Bitcoin Trust, valued at approximately $10.9 billion, highlighting a substantial investment that underscores the firm’s confidence in Bitcoin.
Susquehanna’s portfolio diversification extends to other ETFs such as Fidelity’s Bitcoin ETF and ProShares Bitcoin Strategy ETF, demonstrating a robust approach to Bitcoin investment. Their selection reflects a strategic method to leverage various facets of the Bitcoin market.
Julian Fahrer, CEO and co-founder of Apollo, remarked on the development, expressing optimism about institutional interest in cryptocurrency investments. He labeled Susquehanna as the largest Bitcoin ETF investor to date.
This strategic investment by Susquehanna is expected to enhance Bitcoin’s credibility and stability as a financial asset. Despite the considerable amount allocated to Bitcoin ETFs, it remains a small fraction of Susquehanna’s total portfolio, suggesting a cautious yet optimistic entry into the digital asset space.
