As a researcher with a background in finance and experience following the cryptocurrency market closely, I find Susquehanna International Group’s investment in Bitcoin through various exchange-traded funds (ETFs) to be an intriguing development. The scale and diversity of their holdings highlight their strategic approach towards capitalizing on Bitcoin’s potential as a financial asset.
As a crypto investor, I’m excited to share some intriguing news. The investment powerhouse, Susquehanna International Group, known for managing massive financial assets and facilitating trading volumes worldwide, has significantly increased its exposure to Bitcoin. This revelation came from a recent disclosure to the Securities and Exchange Commission (SEC) on May 7, 2024. According to this filing, Susquehanna held an impressive $1.2 billion investment in spot Bitcoin exchange-traded funds (ETFs) during the first quarter of the year.
The Bitcoin ‘Monster Whales’ Are Here
The investment details of Susquehanna in the Grayscale Bitcoin Trust (GBTC) are worth highlighting for their size and range. As of March 31, 2024, Susquehanna owned an impressive 17,271,326 shares in GBTC, which translates to a value of roughly $1.09 billion. This substantial investment makes up a significant chunk of their overall Bitcoin holdings, suggesting that Susquehanna favors Grayscale for its high liquidity.
At the given date, Susquehanna owned over 13.49 million dollars’ worth of FBTC shares, amounting to 1,349,414 units. Moreover, the firm boosted its investment in BITO by nearly 57%, holding 7.90 million shares valued at around 255.42 million dollars. This expansion includes exposure to Bitcoin futures contracts through the ProShares Bitcoin Strategy ETF.
Further, Susquehanna’s Bitcoin ETF holdings consist of investments in notable funds including the BlackRock Bitcoin iShares ETF, ARK 21Shares ETF, Bitwise Bitcoins Trust, Valkyrie Bitcoin Strategy ETF, Invesco Alerian Galaxy Crypto Economy ETF, VanEck Merit Bitcoin Trust, and WisdomTree Bitcoin Strategy ETF. The thoughtful choice of these funds demonstrates Susquehanna’s comprehensive strategy to maximize various investment opportunities in Bitcoin.
In their latest portfolio disclosure, Susquehanna International Group, LLP reveals they have invested over a billion dollars in Bitcoin Exchange-Traded Funds (ETFs).
— Phoenix » PhoenixNews.io (@PhoenixTrades_) May 7, 2024
Julian Fahrer, the CEO and co-founder of Apollo, expressed his excitement over Susquehanna International Group’s significant investment in Bitcoin ETFs. “Impressive: Susquehanna International Group now holds a massive $1.2 billion stake in ten Bitcoin ETFs! These financial titans have joined the crypto market fray.” This statement underscores the burgeoning enthusiasm and institutional backing for cryptocurrency investments.
Although Susquehanna has a substantial overall investment portfolio, worth over $575.8 billion, its commitment to Bitcoin through ETFs is relatively small at around $1.2 billion. This amounts to just 0.22% of their total assets, demonstrating a careful yet notable move into the digital asset market.
The action taken by Susquehanna carries significant consequences for the market. Bitcoin ETFs experienced strong trading demand at their launch but have since seen a decrease in investor attention. However, Susquehanna’s involvement is an indicator of increasing institutional investment in Bitcoin. This influx of capital is predicted to boost Bitcoin’s reputation and reliability as a financial asset.
Additionally, Susquehanna’s investment in Bitcoin isn’t only through direct ownership. They also have indirect exposure via their MicroStrategy shares, which have a large Bitcoin reserve. In a recent reevaluation, Susquehanna decreased its MicroStrategy holding by approximately 15%, aligning its Bitcoin exposure with its overall portfolio modifications.
At press time, BTC traded at $62,352.
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2024-05-08 10:16