SIG Investments in Spot Bitcoin ETFs: Details and Analysis
Date: 2024-05-08 Author: Henry Casey Categories: BUSINESS
In the first quarter of 2024, trading giant Susquehanna International Group (SIG) invested $1.2 billion in seven spot Bitcoin ETFs, demonstrating its activity in the cryptocurrency fund market.
Investment Details
A 13F-HR filing with the SEC reveals that SIG purchased shares of various exchange-traded funds, including Grayscale Bitcoin Trust ETF (GBTC), Fidelity Wise Origin Bitcoin Fund (FBTC), iShares Bitcoin Trust (IBIT) ), ARK 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), Valkyrie Bitcoin Fund (BRRR) and Invesco Galaxy Bitcoin ETF (BTCO).
The company also significantly increased its stake in the ProShares Bitcoin Strategy ETF (BITO), investing an additional $255.42 million into the product, up 57.59% from the previous quarter.
Institutional investment trend
This SIG investment strategy demonstrates continued interest in the cryptocurrency sector from large institutional investors. Previously, Hightower was also active, investing $68 million in spot Bitcoin ETFs.
Experts believe that inflows into spot Bitcoin ETFs among retail investors could increase significantly as institutional players enter the market, according to forecasts from VanEck CEO Jan van Eck.
