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Massive Bitcoin Whale Uncovered in Recent SEC Filings
Freshly published SEC filings have revealed a significant Bitcoin whale holding nine-figure funds across various U.S. Bitcoin ETF products. Susquehanna International Group, LLP (SIG), a global trading and investment firm with $438 billion in assets under management, disclosed holdings worth $1.8 billion in these products in a recent 13F-HR filing submitted to the SEC.
Overview of Susquehanna’s Bitcoin ETF Holdings
Despite being a fraction of its total investments, Susquehanna’s Bitcoin ETF allocation stands out as one of the largest for Q1 2024. The firm, with a single $438 billion fund, currently holds a 0.3% position in Bitcoin ETFs, with plans to scale this up to 3% within the next year, amounting to $13.4 billion from a single entity.
Bitcoin Market Analysis
The reporting period ended on March 31, with BTC trading at $71,000, compared to $62,200 as of May 7. If Susquehanna’s ETF shareholdings have remained unchanged since then, their market value, tied to BTC’s value, may have also experienced a decline.
Breakdown of Susquehanna’s Bitcoin ETF Holdings
Susquehanna’s portfolio includes positions in nine Bitcoin spot ETFs, with its largest allocation in Grayscale at $1.092 billion. The firm also holds significant positions in Fidelity’s Bitcoin ETF and other Bitcoin futures and leveraged futures ETFs, showcasing a diversified approach to Bitcoin investments.
Despite the similar operations of most ETFs, Susquehanna’s allocations vary across providers, with notable investments in different ETF types, including those focused on Bitcoin mining.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
