As a seasoned crypto investor with a decade of experience under my belt, I’ve witnessed the ups and downs of this volatile market. But one thing is clear to me: institutional adoption is a game-changer. And Susquehanna International Group’s recent move to invest over $2.3 billion in Bitcoin ETFs is a testament to that.
On Tuesday, Susquehanna International Group, a prominent investment firm overseeing $481 billion in assets, revealed its entry into the Bitcoin market by acquiring Bitcoin exchange-traded funds (ETFs). According to a 13F filing submitted to the U.S. Securities and Exchange Commission, Susquehanna allocated over $1 billion towards Grayscale Bitcoin Trust (GBTC) and an additional $1.3 billion across ten different spot Bitcoin ETFs.
As an analyst, I’d put it this way: The sizeable Bitcoin ETF holdings of a singular firm represent the growing institutional interest in the cryptocurrency market.
Ten different Bitcoin spot Exchange-Traded Funds (ETFs) were purchased in their entirety by Susquehanna, encompassing products from Fidelity, Ark 21Shares, Franklin Templeton, Bitwise, and VanEck. Additionally, WisdomTree, Invesco Galaxy, and Valkyrie’s offerings were also included in their acquisition.
The reports exclude transactions conducted after March 31st, yet Susquehanna’s investment in Bitcoin underscores the growing interest among large institutions towards cryptocurrencies. Furthermore, the persistent inflows into spot Bitcoin ETFs signify a bullish outlook held by investors on Bitcoin.
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2024-05-08 03:48