Bitcoin
Susquehanna discloses $1.3 billion in cash investments in Bitcoin ETF
Susquehanna International Group disclosed $1.3 billion in spot Bitcoin ETF investments in a May 7th 13F Filing.
The company reported owning 17.3 million shares of Grayscale GBTC in three separate investments for a combined investment of US$1.1 billion.
Susquehanna additionally purchased 1.3 million Fidelity shares FBTC worth $83.7 million, 583,049 BlackRock shares I BITE worth $23.6 million, 560,832 Bitwise shares BITB worth US$21.7 million and 508,824 Ark 21Shares shares ARKB worth US$36.1 million.
The company purchased 256,354 shares of VanEck HODL worth $20.6 million, 255,814 WisdomTree shares BTCW worth US$19.3 million, 166,200 Invesco shares BTCO worth US$11.8 million and 192,391 shares of Valkyrie BRRR worth US$3.9 million.
The combined investments represent a small portion of the $575.9 billion total investments the company reported in its latest 13F.
Susquehanna’s purchases include investments in nine of the ten spot Bitcoin ETFs currently on the market. Franklin Templeton’s fund, EZBC, is missing from the firm’s latest filing.
Growing institutional investment
Susquehanna International Group is one of the largest companies investing in spot Bitcoin ETFs today. The company describes itself as one of the largest proprietary trading firms in the world and estimates suggest it has $481 billion in assets under management (AUM).
The investments are also part of broader institutional interest in spot Bitcoin ETFs during the first few months of the funds’ availability.
Hightower Consultants and SouthState Bank, BNP ParibasIt is Burkett Financial Services reported similar Bitcoin ETF spot investments in their 13F filings. Legacy asset management and several other companies also reported investments.
BlackRock members and Bit by bit predicted continued institutional investment in spot Bitcoin ETFs, a trend supported by the latest disclosures.
This quarter’s 13F filings only disclose purchases made before March 31, meaning more recent purchases may remain undisclosed.
Spot Bitcoin ETFs had a combined total of $52 billion in assets under management as of May 7, with $11.7 billion in inflows as of May 6.