Susquehanna has more Bitcoin exposure than just ETFs

exchange68September 10, 2024

0 0 2 minutes read

Quick Take

Susquehanna, a prominent trading firm, has disclosed a $1.3 billion investment in spot Bitcoin ETFs. The firm’s portfolio is primarily dominated by the Grayscale Bitcoin Trust (GBTC), which accounts for a substantial $1.1 billion of the total investment. The company’s appetite for Bitcoin exposure extends beyond just GBTC, as the firm has invested in nine spot Bitcoin ETFs in the US market.

According to the 13F filing, their investments span a diverse range of Bitcoin-related products, including $470,944 invested in the Bitwise Funds Trust.

Screengrab showing Susquehanna’s investment in the Bitwise Funds Trust (Source: 13F filing)

The company has a $2.91 million investment in Global X Funds Bitcoin Trend Strategy (BTRN) and multiple investments in ProShares Short Bitcoin (BITI) totaling $4.03 million.

ProShares Short Bitcoin: (Source: 13-F, sec.gov/Archives) — Screengrab showing Susquehanna’s investments (Source: 13F filing)

Furthermore, Susquehanna has made substantial investments in the ProShares Bitcoin Strategy ETF (BITO), with five separate investments amounting to $429.93 million.

Susquehanna's investments in the ProShares Bitcoin Strategy ETF (BITO) — Screengrab showing Susquehanna’s investments in the ProShares Bitcoin Strategy ETF (BITO) (Source: 13F filing)

They have a $1 million investment in the Valkyrie Bitcoin Futures Leveraged Strategy ETF and the Valkyrie ETF Trust for Bitcoin miners, totaling $8.82 million.

BTC Miners and BTC Futures Leverage ETFs: (13-F, sec.gov/Archives) — Screengrab showing Susquehanna’s investments in Valkyrie’s ETFs (Source: 13F filing)

Susquehanna has three separate investments in the 2x Bitcoin Strategy (BITX), amounting to $97.85 million.

2x Bitcoin Strategy ETF: (Source: 13-F, sec.gov/Archives) — Screengrab showing Susquehanna’s investments in 2x Bitcoin Strategy (BITX) (Source: 13F filing)

As a large proprietary trading firm, Susquehanna’s diverse portfolio includes leveraged, short, and volatility-based investments. This approach enables the company to take a strategic approach to trading and capitalizing on market opportunities. In their pursuit of maximizing gains, they’re not just holding spot ETFs but diversifying and hedging various investments to optimize returns.

Analyst

James Van Straten

Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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