ETFs
The state of Wisconsin purchased $163 million worth of Bitcoin ETFs
- The state of Wisconsin purchased approximately $163 million worth of bitcoin, according to 13F filings.
- The State of Wisconsin Investment Board purchased Bitcoin ETFs from BlackRock and Grayscale in the first quarter.
- The Wisconsin Investment Board manages the state’s pensions, which total more than $150 billion.
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The state of Wisconsin purchased $163 million worth of bitcoin in the first quarter, according to a 13F deposit with the Securities and Exchange Commission.
The Wisconsin Investment Board manages the Badger State’s pensions, which total more than $150 billion. The pension fund’s 13F filing shows it held about $38 billion in public stocks as of March 31.
According to the filing, the board purchased just over 1 million shares of Grayscale Bitcoin Trust for a total value of $63.7 million, and approximately 2.5 million shares of iShares Bitcoin Trust with a total value of approximately $99.2 million.
Wisconsin appears to be one of the first state pension funds to invest in the crypto space, and it’s a big deal, according to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence.
“Wow, a state pension bought a $IBIT in Q1. Normally you don’t get these big peach institutions in the 13Fs until about a year (when the ETF gets more liquidity), but as we As we have seen, these are not ordinary things “Good sign, expect more, because institutions tend to move in herds”, Balchunas. posted on Tuesday.
In 2022, a Virginia pension said it was granted approval to invest in crypto yield farming, with reports at the time indicating that the Fairfax County Retirement System had invested $70 million in the field .
Bitcoin has been trading higher since the Wisconsin Investment Board filed and is up 6.2% on Wednesday at $65,381, marking its highest level since May 6.