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Trading Giant Susquehanna Adds $1,174,000,000 Worth of Spot Bitcoin ETFs to Portfolio

May 09, 2024

Global trading and technology firm Susquehanna is making massive investments in spot Bitcoin (BTC) exchange-traded funds (ETFs).

In a new filing with the U.S. Securities and Exchange Commission (SEC), the company says it bought 17,271,326 shares of Grayscale Bitcoin Trust (GBTC) in three tranches of $6.3 million, $1.05 billion and $34.77 million for a total of $1.09 billion.

The GBTC investment, which is now worth $955.10 million based on the current market price of $55.30 per share, represents Susquehanna’s biggest spot Bitcoin ETF allocation.

The trading firm also bought 1,349,414 shares of Fidelity Wise Origin Bitcoin Fund (FBTC) for $83.74 million, 583,049 shares of BlackRock’s iShares Bitcoin Trust (IBIT) for $23.6 million, 560,832 shares of Bitwise Bitcoin ETF (BITB) for $21.7 million and 508,824 shares of ARK 21 Shares Bitcoin ETF (ARKB) for $36.1 million.

Susquehanna’s portfolio also includes 256,354 shares of VanEck Bitcoin Trust (HODL) bought for $20.6 million, 255,814 shares of WisdomTree Bitcoin Fund (BTCW) valued at $19.3 million at time of purchase, 166,200 shares of Invesco Galaxy Bitcoin ETF (BTCO) acquired for $11.8 million and 192,391 shares of Valkyrie Bitcoin Fund (BRRR) worth $3.9 million.

In all, the trading giant with $481 billion in total assets under management (AUM) invested $1.31 billion in nine spot Bitcoin ETFs.

The SEC greenlit 11 applications to offer the BTC investment product in January, though it did warn that Bitcoin is still considered a volatile and speculative asset.

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