Susquehanna International Group includes $1 billion worth of Bitcoin ETFs in its portfolio.

Quantitative trading firm Susquehanna International Group has made a significant investment in Bitcoin exchange-traded funds (ETFs) during the first quarter of 2024, according to a recent filing with the Securities and Exchange Commission. The firm now holds over $1 billion worth of shares in the Grayscale Bitcoin Trust (GBTC) and the Fidelity Wise Origin Bitcoin Fund (FBTC). Additionally, Susquehanna has increased its stake in the ProShares Bitcoin Strategy ETF (BITO). The company also had indirect exposure to Bitcoin through its holdings in MicroStrategy stock, although it reduced its stake in the company during a recent portfolio rebalancing. Despite its cryptocurrency investments, Susquehanna’s overall portfolio is valued at over $575.8 billion, with top investments in NVIDIA Corporation and the SPDR S&P 500 ETF Trust. Other new holdings for the firm include shares in Convertible Zero, bonds from NRG Energy Inc., and preferred stocks in Albemarle Corporation. Bitcoin funds are becoming increasingly popular among trading firms and financial advisers, with Fidelity’s Bitcoin ETF recently attracting $40 million in investments from Legacy Wealth Management and United Capital Management of Kansas. These advisers cater to a significant number of baby boomers, who hold a substantial portion of the country’s wealth. The appeal of cryptocurrency extends beyond the financial sector, with many hip hop stars also showing an interest in the technology.