The State of Wisconsin has invested nearly $163 million in two major Bitcoin exchange-traded funds (ETFs): BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale’s Bitcoin Trust (GBTC).
Investment Details
The investment was made before March 15, 2024, the deadline for institutional investors to disclose their first-quarter holdings. The State of Wisconsin Investment Board, which manages investments for public retirement and trust funds, made the investment.
ETF Holdings
IBIT and GBTC are the two largest Bitcoin-based ETFs by trading volume. The investment by the State of Wisconsin is a significant move, as it shows that institutional investors are becoming more comfortable with investing in cryptocurrency.
Analyst Commentary
Bloomberg ETF analyst Eric Balchunas commented on the investment, saying that it is a “good sign” and that he expects more institutions to invest in Bitcoin in the future.
Current Bitcoin Price
At the time of writing, Bitcoin is trading at $61,301, down 2.5% in the last 24 hours.
