Susquehanna International Discloses $291M Bitcoin ETF Holdings

Susquehanna International Group has disclosed holdings of approximately $291 million in Bitcoin ETFs, the company announced on Wednesday. The company currently trades spot, futures, swaps, options, and ETFs on a wide variety of cryptocurrencies on exchanges around the world. The shares all appear to stem from BlackRock’s iShares Bitcoin ETF.

In Q1 2024, Susquehanna International purchased more than $1 billion worth of shares of spot Bitcoin ETFs. Their now $1.3B in Bitcoin ETFs equals over 17.5 million shares. The decision comes amid rising global interest in digital assets and increased regulatory clarity in the U.S. financial sector. SIG’s investment signals a strategic alignment with the growing trend of financial giants embracing blockchain technology and cryptocurrency as key elements of diversified portfolios.

Additionally, Susquehanna has indirect exposure to Bitcoin’s spot price through Strategy stock (MSTR). Michael Saylor’s Strategy is known as the top institutional investor of Bitcoin, scooping up billions worth of the king cryptocurrency. Susquehanna also added 3,620,942 shares of GameStop (GME) to their portfolio, per a new SEC 13F filing.

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Susquehanna International’s Bitcoin ETF investments are spread across 10 ETF offerings. Grayscale is the largest of the firm’s holdings, with over $1 billion invested in the Grayscale Bitcoin ETF. At press time, Bitcoin is trading at $103,000, up 21% in the past month.