Susquehanna International Group, a quantitative trading firm, revealed its investments in Bitcoin exchange-traded funds during the first quarter of 2024.
Beyond Bitcoin ETFs, the company reduced its stake in MicroStrategy during a recent portfolio rebalancing by nearly 15%. As of March 31, Susquehanna’s stake in MicroStrategy dropped from 287,180 shares in February to 244,863. The firm also has a history of leveraging derivatives, particularly stock options; presently, Susquehanna holds call options representing 796,600 underlying shares valued at approximately $25 million and put options representing 4,606,300 underlying shares valued at approximately $148 million.The trend of trading firms and financial advisers turning to Bitcoin ETFs for exposure to digital assets is on the rise.