Crypto Update: State of Wisconsin Invests $163 Million in Bitcoin ETFs 🚀
A recent revelation from new 13-F Filings with the U.S. Securities and Exchange Commission (SEC) unveils that The State of Wisconsin Investment Board has significant holdings in two major Bitcoin (BTC) trusts. The state agency has invested in BTC exchange-traded fund (ETF) holdings with Blackrock’s iShares Bitcoin Trust (IBIT) and Grayscale’s Bitcoin Trust (GBTC), totaling around $163 million.
- The State of Wisconsin Investment Board’s BTC holdings
- IBIT and GBTC are the top two Bitcoin-based ETFs by trading volume
- Management of public retirement and trust funds
The State of Wisconsin Investment Board, as a state agency managing investments for public retirement and trust funds, has diversified investments, including not only cryptocurrency but also traditional financial vehicles. The investment in these Bitcoin trusts was made before the institutional investor disclosure deadline for Q1 holdings. Senior Bloomberg ETF analyst Eric Balchunas noted the uniqueness of this move, highlighting that state pensions rarely appear on 13-Fs until later.
With Bitcoin currently trading at $61,301, down 2.5% in the last 24 hours, the crypto market continues to exhibit volatility. Stay updated to avoid missing out on key developments in the crypto space!
Hot Take: State Investment in Bitcoin ETFs Signals Institutional Interest in Crypto 📈
As institutional investors like The State of Wisconsin Investment Board continue to show interest in Bitcoin ETFs, the future of cryptocurrency adoption in traditional finance looks promising. Keep an eye on institutional movements in the crypto market to gauge upcoming trends and developments.
Sources: SEC Filings
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