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.
[adinserter block="1"]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.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
