Susquehanna discloses $1.3 billion in spot Bitcoin ETF investments

Susquehanna International Group disclosed $1.3 billion of investments in spot Bitcoin ETFs in a May 7 13F filing.

The company reported holding 17.3 million shares of Grayscale’s GBTC across three separate investments for a combined investment of $1.1 billion.

Susquehanna additionally purchased 1.3 million shares of Fidelity’s FBTC worth $83.7 million, 583,049 shares of BlackRock’s IBIT worth $23.6 million, 560,832 shares of Bitwise’s BITB worth $21.7 million, and 508,824 shares of Ark 21Shares’s ARKB worth $36.1 million.

The company purchased 256,354 shares of VanEck’s HODL worth $20.6 million, 255,814 shares of WisdomTree’s BTCW worth $19.3 million, 166,200 shares of Invesco’s BTCO worth $11.8 million, and 192,391 shares of Valkyrie’s BRRR worth $3.9 million.

The combined investments represent a small portion of the total $575.9 billion 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 absent from the company’s latest filing.

Growing institutional investment

Susquehanna International Group is one of the largest companies to invest in spot Bitcoin ETFs today. The firm describes itself as one of the largest proprietary trading firms globally, and estimates suggest it has $481 billion of assets under management (AUM).

The investments are also part of broader institutional interest in spot Bitcoin ETFs during the funds’ first several months of availability.

Hightower Advisors and SouthState Bank, BNP Paribas, and Burkett Financial Services have reported similar spot Bitcoin ETF investments in their 13F filings. Legacy Wealth Asset Management and various other firms have also reported investments.

Members of BlackRock and Bitwise have predicted continued institutional investment in spot Bitcoin ETFs, a trend supported by the latest disclosures.

This quarter’s 13F filings disclose only purchases made before March 31, meaning that more recent purchases may remain undisclosed.

Spot Bitcoin ETFs had a combined $52 billion of assets under management as of May 7, with $11.7 billion of inflows as of May 6.

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