The State of Wisconsin Investment Board has disclosed its significant investments in Bitcoin Exchange Traded Funds through a filing made with the Securities and Exchange Commission. SWIB has nearly $100,000,000 worth of BlackRock’s spot Bitcoin Exchange-Traded Fund (IBIT) according to a recent filing with the Securities and Exchange Commission.
JUST IN: 🇺🇸 State of Wisconsin Investment Board discloses it holds almost $100 million of BlackRock's spot #Bitcoin ETF. pic.twitter.com/Jdv4uKSi9J
— Bitcoin Magazine (@BitcoinMagazine) May 14, 2024
SWIB has become the first public institution of a state to disclose its position in Bitcoin ETFs. It is a major step forward in the integration Bitcoin into investment portfolios.Â
“Wow, a state pension bought $IBIT in first quarter. Normally you don’t get these big fish institutions in the 13Fs for a year or so (when the ETF gets more liquidity) but as we’ve seen these are no ordinary launches,” Bloomberg Senior ETF Analyst Eric Balchunas commented On the News “Good sign, expect more, as institutions tend to move in herds.”
SWIB is also revealed in the filing that it holds over $63 million of Grayscale’s spot Bitcoin ETF (GBTC), totaling over $162 million between these two holdings.
This recent wave of filings from institutions revealing their Bitcoin ETF positions highlights institutional interest. This includes not just major institutional investors such as SWIB. It also includes large, traditional companies like the United States’ largest bank, JPMorgan Chase. disclosed Its spot Bitcoin ETF Holdings, as it is a market-maker for these ETFs.
“This is a small part of a massive public investment fund (total value of all positions in the 13F filing is $37.8 billion). But the long-term importance cannot be overstated,” stated MacroScope is a market analyst and researcher. “Wisconsin is now the second-largest reporting holder of IBIT globally. This will be closely analyzed and widely discussed by other state investment boards. Watch for others to follow in coming quarters.”
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Source: bitcoinmagazine.com