Susquehanna’s Monster Investment
Susquehanna International Group, a giant in asset management, has made a huge investment in Bitcoin through exchange-traded funds (ETFs). According to a recent disclosure, Susquehanna held about $1.2 billion in spot ETFs in the first quarter of 2024.
Significant Holdings
Susquehanna’s investment is notable for its size and diversity. They own a massive chunk of Grayscale Bitcoin Trust (GBTC), worth about $1.09 billion. They also hold shares in Fidelity’s Bitcoin ETF (FBTC), ProShares Bitcoin Strategy ETF (BITO), and other high-profile funds.
Institutional Interest
Susquehanna’s move reflects the growing interest in cryptocurrency investments among institutional investors. Despite the large investment, Bitcoin ETFs still make up a small part of Susquehanna’s overall portfolio, signaling a cautious but significant entry into the digital asset space.
Market Implications
This investment is expected to boost Bitcoin’s credibility and stability as a financial asset. It also shows that institutional investors are not just interested in direct Bitcoin exposure but also in indirect exposure through companies like MicroStrategy, which hold Bitcoin reserves.
