The State of Wisconsin Investment Board (SWIB) has increased its investment in BlackRock’s iShares Bitcoin Trust (IBIT), according to a new SEC filing Today, MacroScope first covered the story on X.
The State of Wisconsin Investment Board filed a SEC report today stating that it owned 2,898,051 iShares Bitcoin Trust shares as of 30 June (valued at 98.9 millions dollars as of this date).
This is an increase from the 2,450,400 shares that Wisconsin previously reported in May.…
— MacroScope (@MacroScope17) August 14, 2024
At the end of June, 2,898,051 stock shares valued at $98.9 millions were owned by the board. The board now owns 447,651 more shares than the 2,450.400 reported in May. The filing revealed, among other things, that the board does not hold any shares in Grayscale Bitcoin Trust. This is a significant change from the 1,013,000 stocks it held back in May.
Earlier this year in May, SWIB became the first state pension to buy spot Bitcoin ETFs, signaling a another big milestone in the integration of Bitcoin into traditional investment portfolios. Board’s decision on increasing its investment in IBIT reflects a preference among institutions for direct Bitcoin exposure via spot ETFs.
Even though Bitcoin’s price has recently dropped, investors continue to flock into Bitcoin spot ETFs. The total inflow since July 24 is $243.06million.
U.S. 🇺🇸 Bitcoin Spot ETFs 👇 2 consecutive days of inflows pic.twitter.com/8txUOkdT61
— HODL15Capital 🇺🇸 (@HODL15Capital) August 14, 2024
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Source: bitcoinmagazine.com