Your Gateway to Digital Assets: Investments in Crypto ETFs
Are you considering diversifying your investment portfolio with exposure to Bitcoin exchange-traded funds (ETFs)? Curious about the recent investments made by Susquehanna International Group in the crypto space? Here’s an overview of Susquehanna’s crypto portfolio and the growing trend of traditional finance institutions turning to Bitcoin ETFs for investment opportunities.
Susquehanna’s Crypto Portfolio 💰
- The firm disclosed ownership of over $1 billion in exchange-traded funds (ETFs) in a recent filing.
- Susquehanna holds 17,271,326 shares in the Grayscale Bitcoin Trust (GBTC), valued at around $1.09 billion as of March 31, 2024.
- Additionally, the company reported ownership of 1,349,414 Fidelity Wise Origin Bitcoin Fund (FBTC) shares, with an approximate value of $83.74 million.
- The firm increased its stake in the ProShares Bitcoin Strategy ETF (BITO) to 7,907,827 shares, valued at about $255.42 million.
- This marked a 57.59% increase from a previous filing in February.
- Susquehanna reduced its stake in MicroStrategy (MSTR) by nearly 15% during a recent portfolio rebalancing.
- The company’s crypto investments represent a small portion of its overall $575.8 billion portfolio as of Q1.
TradFi Turns to Bitcoin ETFs 📈
- The trend of trading firms and financial advisers investing in Bitcoin ETFs is gaining momentum.
- In April, Fidelity’s Bitcoin ETF attracted $40 million from traditional financial advisers.
- Notably, Legacy Wealth Management and United Capital Management of Kansas each invested $20 million in FBTC.
- Bloomberg’s Balchunas sees this trend as indicative of increasing adoption among traditional investors.
- He views this development as promising for long-term adoption advocates.
- However, some within the financial industry remain skeptical about the shift towards crypto ETFs.
Hot Take 🔥
Are you ready to explore the world of crypto investments through ETFs? With traditional financial institutions like Susquehanna International Group entering the space, the landscape of digital assets is evolving. Stay informed about the latest trends and opportunities in the crypto market to make informed investment decisions.
Sources:
– fintel: Grayscale Bitcoin Trust (GBTC)
– fintel: Fidelity Wise Origin Bitcoin Fund (FBTC)
– fintel: ProShares Bitcoin Strategy ETF (BITO)
– fintel: Susquehanna International Group Portfolio Data
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