According to the latest filings with the U.S. Securities and Exchange Commission (SEC), Citadel, one of the world’s largest hedge funds, and Heights Capital Management, an affiliate of Susquehanna International Group (SIG), have both initiated positions in Nano Labs Ltd. (NASDAQ: NA), a U.S.-listed company. Together, the two institutions now hold close to 20% of Nano Labs' public float.

The filings reveal that Citadel, through multiple affiliated entities, holds approximately 2.08 million Class A ordinary shares, accounting for 9.5% of the company’s publicly traded shares. Citadel explicitly stated that this investment is purely financial in nature, with no intention to seek control or participate in corporate governance. This stance has been interpreted by the market as a vote of confidence in the long-term potential of Nano Labs, with Citadel choosing to enter as a “strategic companion.”

Founded by renowned financial titan Ken Griffin, Citadel manages hundreds of billions of dollars and is widely regarded as one of the most powerful forces on Wall Street, known for its robust research, information, and trading infrastructure.

At the same time, Heights Capital Management, an affiliate of SIG — one of the world’s largest privately held financial services firms — along with its affiliated entity CVI Investments, disclosed a holding of approximately 2.11 million Class A ordinary shares in Nano Labs, representing 9.9% of the public float. Based in San Francisco, Heights Capital focuses on supporting high-growth companies driven by technology and innovation.

Nano Labs is the world’s first Nasdaq-listed company to include BNB as part of its strategic reserves. The company currently holds around 120,000 BNB, valued at over $93 million based on a price of $776 per BNB. Previous media reports also indicate that Nano Labs holds approximately 1,000 BTC.

The simultaneous investments from Citadel and Heights Capital may signal a broader shift, as traditional financial institutions increasingly pivot toward high-quality Web3.0 enterprises. Nano Labs is gradually emerging as a key bridge between traditional finance and the digital asset economy.