Wisconsin’s State Investment Board (SWIB) has made some changes to its cryptocurrency portfolio, as revealed in a recent SEC filing. The biggest shift involves a significant increase in its holdings of BlackRock’s iShares Bitcoin ETF (IBIT) and a complete divestment from Grayscale’s Bitcoin Trust (GBTC).
Big Gains in BlackRock’s ETF
SWIB now owns over 6 million shares of IBIT, worth over $335 million at current prices. This is a huge jump from the 2.45 million shares held just a few months ago.
Goodbye Grayscale, Hello BlackRock
Interestingly, SWIB’s previous filings showed a holding of 1.01 million shares in GBTC. These shares are no longer listed in the latest filings, indicating a complete sale of their GBTC holdings.
Diversified Portfolio
SWIB manages investments for the state’s public retirement and trust funds. Their portfolio is quite diverse, including investments in other crypto companies like Coinbase, Marathon Digital, and Riot Platforms, alongside more traditional financial assets.
The Bitcoin ETF Boom
BlackRock’s IBIT is currently the largest Bitcoin ETF, managing over $56 billion in assets. The approval of spot Bitcoin ETFs earlier this year has led to a massive influx of investment into the crypto market. The SEC also approved Ethereum ETFs in July.
Disclaimer: This information is for general knowledge only and is not financial advice. Always do your own research before making any investment decisions.
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