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Hot Development: A US State Revealed to Own a Substantial Amount of Bitcoin ETF!
Wisconsin State Investment Board SWIB( reported owning a $321.5 million iShares Bitcoin ETF, which represents 0.82% of its total assets, according to its latest 13F filing.
Established in 1951, SWIB manages the assets of the Wisconsin Retirement System (WRS), State Investment Fund (SIF), and other state trust funds. As of December 31, 2024, SWIB oversees assets of over $162 billion.
Last year, Wisconsin's pension fund made headlines by purchasing over 160 million dollars worth of shares in two newly approved Bitcoin ETFs, adding Bitcoin exposure to their balance sheets.
Marquette University Emeritus Finance Professor David Krause highlighted the difference between directly buying BTC and investing in Bitcoin ETFs. While Bitcoin can be purchased and stored in a digital wallet, ETFs function similarly to investment funds and track the price of BTC without requiring investors to hold the asset themselves.
Krause explained, “These are traded on exchanges” and added, “So they have liquidity just like stocks. They are also regulated by the Securities and Exchange Commission, which provides investors with confidence that they are not dealing with directly purchasing an asset.”
Despite the massive $321.5 million investment in the iShares Bitcoin ETF, Krause pointed out that it remains a relatively small portion of Wisconsin's overall retirement fund.