In a major development in the world of cryptocurrency, the $438 billion asset management firm Susquehanna International Group has revealed that it has purchased a staggering $1.3 billion worth of spot Bitcoin exchange-traded funds (ETFs). This investment represents one of the largest institutional bets on Bitcoin ETFs to date.
Susquehanna’s Bitcoin ETF portfolio is diversified across multiple providers, including Grayscale ($1.09 billion), Fidelity ($83.7 million), BlackRock ($23.6 million), ARK21 ($536.1 million), Bitwise ($21.7 million), Valkyrie ($3.9 million), Invesco ($11.8 million), VanEck ($20.6 million), and WisdomTree ($19.3 million).
This move by Susquehanna, one of the world’s largest proprietary trading firms, is a strong endorsement of the growing institutional adoption of Bitcoin and the increasing popularity of spot Bitcoin ETFs. Since the first spot Bitcoin ETF was approved by the U.S. Securities and Exchange Commission in January 2024, the ETF market has seen a surge in investor interest, with Bitcoin reaching new all-time highs.
The success of spot Bitcoin ETFs has been undeniable, as they have provided investors with a more accessible and regulated way to gain exposure to the leading cryptocurrency. Susquehanna’s substantial investment in these products is a clear indication that institutional investors are increasingly seeing Bitcoin as a viable asset class.
This move by Susquehanna is likely to further fuel the interest of other asset management firms in the Bitcoin ETF market, as they seek to capitalize on the growing demand for cryptocurrency-based investment products. With trillions of dollars already flowing into these assets, the momentum in the Bitcoin ETF space shows no signs of slowing down.
