The state of Wisconsin reported $164 million in investments in the Spot Bitcoin ETF
The State of Wisconsin Investment Board (SWIB) has reported investments in spot Bitcoin (BTC), exchange-traded funds offered by Grayscale and BlackRock.
In a May 14 filing with the US Securities and Exchange Commission (SEC), the state body responsible for managing the Wisconsin State Trust Fund disclosed that it owns more than 2.4 million shares in BlackRock's iShares Bitcoin Trust (IBIT) and more than one million shares. Grayscale Bitcoin Trust (GBTC), approximately $100 million and $64 million, respectively. The filing suggests that the Wisconsin Retirement System may have exposure to crypto investments through the two asset management firms.
SWIB in 2011 As of December 2023, it reported more than $156 billion in assets under management, of which approximately 48% went into public equity investments. Other investments include stakes in Coinbase, MicroStrategy and Cleanspark. The SEC added that observers should not assume that the information provided by the government entity is “accurate and complete.”
“Typically you don't find these big fish institutions in 13Fs for a year or more[when ETFs get more liquid]but as we've seen, these are no ordinary startups,” Bloomberg ETF analyst Eric Balchunas said on May 14. X post. “Good sign, expect more, as institutions like to move in herds.”
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The SEC filing follows similar reports from major banks, including Wells Fargo and JPMorgan Chase, that disclosed a combined position of less than $1 million in BTC ETFs. Susquehanna International Group reported that in the first quarter of 2024 it bought more than $1 billion worth of shares of the site. The investments consisted of GBTC, IBIT, Fidelity Wise Origin Bitcoin Fund (FBTC), ProShares Bitcoin Strategy ETF (Stock). BITO) and Bitwise Bitcoin ETF.
The SEC approved the listing and trading of Bitcoin ETFs on US exchanges in January. Many experts expect the Commission to decide on the approval of the Ethereum (ETH) exchange-traded fund on May 23.
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