Susquehanna Discloses Bitcoin ETF Holdings, Moves Past XRP Sell-Off Controversy

▲ Bitcoin spot ETF

Global financial giant Susquehanna International Group has shed its market reputation as a major seller of XRP and emerged as a key investor in the Bitcoin (BTC) spot ETF market.

According to crypto-focused media outlet U.Today on February 23 (local time), Susquehanna recently disclosed that it holds approximately $1.3 billion worth of Bitcoin spot ETFs. The firm has incorporated major Bitcoin spot ETF products, including Grayscale’s GBTC and BlackRock’s IBIT, into its portfolio in large quantities, demonstrating long-term investment confidence in digital assets.

The largest portion of Susquehanna’s Bitcoin spot ETF holdings is allocated to GBTC, valued at hundreds of millions of dollars. Analysts suggest that institutional investors are increasingly treating Bitcoin as a core asset to enhance portfolio stability rather than focusing on short-term price gains. While continuing to serve as a liquidity-providing market maker, Susquehanna has significantly expanded its direct long positions, strengthening its influence in the market.

The disclosure of these holdings provides new insights for investors who had previously identified Susquehanna as a major seller of XRP. In the past, the firm faced suspicion of driving price declines by releasing large volumes of XRP into the market. However, the latest filing clarifies that its primary investment focus has been Bitcoin spot ETFs. Within the XRP community, a growing viewpoint suggests that Susquehanna’s sales were part of a Bitcoin-centered asset reallocation strategy rather than a negative outlook on XRP itself.

As large institutional investors increasingly adopt a long-term holding strategy for Bitcoin spot ETFs, the fundamentals of the digital asset market are expected to strengthen further. Susquehanna plans to flexibly manage its exposure to digital asset investments in line with market changes while focusing on enhancing long-term returns. The continued inflow of substantial capital is likely to provide downside support for the market and ease concerns among retail investors.

Susquehanna’s latest disclosure symbolizes the firm establishment of traditional financial capital as a permanent participant in the digital asset market. As institutional adoption accelerates, Bitcoin spot ETFs are securing a status comparable to traditional investment products. Beyond Bitcoin, Susquehanna intends to broaden its investment scope into various digital asset-related financial products, further solidifying its position in the market.

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