Susquehanna International Group Invests $1.3 Billion in Bitcoin ETFs

Coinedition2024/05/08 13:25

By:Nynu V Jamal

Susquehanna International Group reveals $1.3 billion investment in 10 Spot Bitcoin ETFs in the United States.
The platform acquired 17,271,326 shares in the Grayscale Bitcoin Trust (GBTC), valued at about $1.09 billion.
The firm invested $83+ million to purchase 1,349,414 shares of the Fidelity Wise Origin Bitcoin Fund (FBTC).

In a recent development, Susquehanna International Group, a global quantitative trading firm, revealed that the firm holds about $1.3 billion in investments in 10 Spot Bitcoin Exchange Traded Funds (ETFs) in the United States.

Reportedly, Susquehanna International Group has purchased almost 17,271,326 shares in the Grayscale Bitcoin Trust (GBTC), valued at about $1.09 billion. In addition, the firm also invested more than $83 million to purchase 1,349,414 shares of the Fidelity Wise Origin Bitcoin Fund (FBTC).

Susquehanna International Group’s other Bitcoin ETF investments include Ark 21shares Bitcoin ETF (ARKB), iShares Bitcoin ETF (IBIT), Bitwise Bitcoin ETF (BITB), etc. Notably, the platform boasts $36,116 in ARKB, $23,596 in IBIT, and $21,710 in BITB. In addition, the platform holds investments in Bitcoin ETFs issued by asset managers like VanEck, WisdomTree, Invesco Galaxy, Valkyrie, and Franklin Templeton.

Further, according to the revelation by investment research firm Fintel, Susquehanna International Group has investments in the ProSagres Bitcoin Strategy ETF (BITO), giving investors exposure to Bitcoin Futures contracts. The report stated that the company owned 7,907,827 shares of BITO as of March 31, valued at around $255.42 million. This marked a 57.59% increase from a February filing that listed 5,021,149 shares.

As per reports , the company had indirect exposure to Bitcoin’s spot price through MicroStrategy, the largest holder of the pioneer cryptocurrency. However, the platform reduced its shares in MicroStrategy by almost 15%, from 287,180 shares in February to 244,863 on March 31.

Meanwhile, Bitcoin is trading below $65k, with a recent dip of 1.67%. Currently valued at $62,485, Bitcoin experienced a notable decline of 10% over the last 30 days despite a 4% surge in the last week.

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