Susquehanna International Group Invests $1 Billion in Bitcoin ETF: Details and Analysis
Date: 2024-05-09 Author: Henry Casey Categories: BUSINESS
In recent months, interest in cryptocurrencies among institutional investors has continued to grow. Recent reports indicate that Susquehanna International Group (SIG), a leading quantitative trading firm, has joined the trend by purchasing over $1 billion worth of Bitcoin ETF shares.
Details from 13F-HR documentation
According to its most recent 13F-HR filing dated May 7, SIG acquired shares of several Bitcoin ETFs in the first quarter of 2024. Key investments include Grayscale Bitcoin Trust (GBTC) and ProShares Bitcoin Strategy ETF (BITO).
SIG disclosed that it held 17,271,326 GBTC shares worth approximately $1.09 billion at the end of March 2024. In addition, the company increased its stake in BITO, holding 7,907,827 shares worth approximately $255.42 million. This clearly shows growth interest in digital assets among major players in the market.
Significance of investment
Interestingly, although cryptocurrency is a small part of SIG's portfolio, it is increasingly attractive to trading firms and financial advisors. SIG's investment demonstrates confidence in Bitcoin and its growing acceptance as an investment asset.
Impact on the market
This is an important moment for the cryptocurrency market, since attracting funds from large institutional players contributes to the stabilization and growth of prices for digital assets. Bitcoin ETFs are becoming a key mechanism for institutional investors who want to gain access to the cryptocurrency market with minimal risk and complexity.
SIG's $1 billion investment in a Bitcoin ETF underscores growing interest in cryptocurrencies among major institutional players. This indicates the gradual normalization and recognition of cryptocurrency as a legitimate asset in financial markets.
