"It's not tin cans, it can be said that many of these firms invest in spot BTC ETFs."
Susquehanna International Group, an investment firm with assets under management (AUM) of $481 billion has reportedly invested a whopping $1.3 billion in 10 spot Bitcoin (BTC) ETFs.
However, it should be noted that Susquehanna has become the largest holder of the Grayscale Bitcoin Trust ETF (GBTC) after the firm invested more than $1 billion to own approximately 17 million units of GBTC.
Susquehanna is also the largest holder of the Fidelity Wise Origin Bitcoin ETF (FBTC), where its firm holds $83,745 in FBTC which is the second largest in terms of inflows.
In addition to holdings in the $36,116 Ark 21Shares Bitcoin ETF (ARKB), the $23,596 iShares Bitcoin ETF (IBIT) and the Bitwise Bitcoin ETF (BITB), Susquehanna also invested in VanEck, WisdomTree, Invesco Galaxy, Valkyrie and the Franklin Templeton Bitcoin ETF.
So far, Susquehanna which is the largest holding of the BTC ETF has shown that there is great demand from institutional investors plus the BTC ETF in the United States (US) has already seen net inflows of $217 million.
On the other hand, Hong Kong-based investment firms are buying large BTC ETFs directly in the US, for example Ovata Capital Management invested $75.53 million in four spot BTC ETFs listed in the US.
Explained further, Ovata who invested $25.93 million in FBTC to become its largest holder also held $10.88 million in IBIT then acquired GBTC and BITB which were worth $21 million and $16 million respectively.
