- $438 billion asset manager Susquehanna has purchased $1.3 billion worth of Spot Bitcoin ETFs across multiple ETF providers.
- Susquehanna’s investment in Bitcoin ETFs is now the largest recorded holding of such assets to date by a major institutional investor.
- The success of Spot Bitcoin ETFs has been undeniable since their SEC approval in January 2024, with the asset skyrocketing to new all-time highs.
Bitcoin exchange-traded funds (ETFs) have exploded in popularity recently as more institutional investors look to gain exposure to the cryptocurrency in their portfolios. Asset management giant Susquehanna just revealed they are the latest firm to jump on board the Bitcoin ETF train in a big way.
Susquehanna Reveals $1.3B Bitcoin ETF Purchase
In the latest major Bitcoin investment from an asset manager, Susquehanna International disclosed that they purchased a whopping $1.3 billion worth of Spot Bitcoin ETFs. The purchase was revealed today in a 13F filing with the SEC, and was spread across shares in multiple Bitcoin ETFs:
- Grayscale Bitcoin Trust: $1,091,029,663 (17,271,326 shares)
- Fidelity Bitcoin ETF: $837,446,33 (1,349,414 shares)
- BlackRock Bitcoin ETF: $235,959,993 (583,049 shares)
- ARK21 Bitcoin ETF: $536,116,328 (508,824 shares)
- Bitwise Bitcoin ETF: $21,709,807 (560,832 shares)
- Valkyrie Bitcoin ETF: $38,728,31 (192,391 shares)
- Invesco Galaxy Bitcoin ETF: $118,018,62 (166,200 shares)
- VanEck Bitcoin ETF Trust: $20,595,480 (256,354 shares)
- WisdomTree Bitcoin ETF: $19,290,934 (255,814 shares)
Massive Investment Raises Confidence in Bitcoin
The large investment spread across so many different Bitcoin ETFs is notable, and serves to further boost confidence in Bitcoin as an asset class. Susquehanna is one of the largest proprietary trading firms globally, trading financial assets and derivatives worth billions of dollars daily across global exchanges.
This purchase has made Susquehanna the largest known institutional holder of Bitcoin ETFs. It comes on the heels of Bitcoin ETFs exploding in popularity in 2023, following approval by the SEC. With easy access to Bitcoin exposure through ETFs now available, mainstream investors have piled billions of dollars into these products so far this year.
This latest mega-investment from a respected firm like Susquehanna will likely prompt other asset managers to take a closer look at Bitcoin and ETFs. It’s another data point confirming the growing appetite institutional investors have to add Bitcoin and crypto assets to their portfolios.
Conclusion
Susquehanna buying over $1 billion in Bitcoin ETFs highlights the momentum of mainstream adoption of Bitcoin as an investable asset class. More and more traditional asset managers are looking to get exposure to Bitcoin through ETFs, comfortable with the increased regulation and security these regulated products provide. As this trend accelerates, it further cements Bitcoin’s status as the dominant cryptocurrency for institutional investors.
