In a recent submission to the Securities and Exchange Commission (SEC), the State of Wisconsin Investment Board (SWIB) disclosed its investments in spot Bitcoin ETFs managed by BlackRock and Grayscale.
As per SWIB’s Form 13F for Q1 2024, the pension fund, valued at $156 billion, acquired approximately $64 million worth of Grayscale’s GBTC and $99.2 million worth of BlackRock’s IBIT, totaling a Bitcoin investment exceeding $163 million. These investments are indicated for potential use within the Wisconsin Retirement System.
There’s speculation that other states might follow suit after macroeconomics analyst “Macro Scope” suggested that BTC investments are now easily accessible through regulatory-approved spot ETFs.
The discussion gained momentum after Keith Ammon, a member of the New Hampshire House of Representatives, advocated for Bitcoin investments, citing the potential benefits.
Ammon proposed investigating the allocation of a portion of New Hampshire’s reserves into a Bitcoin ETF, highlighting the significant return on investment (ROI) that such a move could have yielded.
The disclosure by Wisconsin has attracted attention in industry publications and is expected to spark discussions in both public and private investment sectors in the coming weeks and months.
Furthermore, crypto industry observer “Marty Party” emphasized the potential impact of the State of Wisconsin Investment Board’s decision, suggesting that it could trigger a chain reaction.
Notably, the Wisconsin SEC filing follows similar disclosures from major banks such as JPMorgan Chase and Wells Fargo, which disclosed investments of approximately $760,000 and $143,000, respectively, in spot Bitcoin ETFs.
Additionally, Millennium Management, one of the world’s largest hedge funds, disclosed holdings of approximately $2 billion in spot Bitcoin ETFs, further highlighting institutional interest in cryptocurrency investments.
May 2024, Cryptoniteuae
