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ZyCrypto 2025-02-16 17:59:38

Wisconsin Pension Fund Doubles Bitcoin Holdings, Now Worth Over $320 Million

Bitcoin (BTC) continues to gain traction among deep-pocketed investors, with pension funds now joining the wave of adoption, even as concerns over inflation persist and regulatory clarity improves. On Friday, the State of Wisconsin’s pension fund disclosed that it has more than doubled its Bitcoin holdings. A filing with the U.S. Securities and Exchange Commission (SEC) confirmed that the State of Wisconsin Investment Board (SWIB) now holds approximately $321 million in Bitcoin exchange-traded funds (ETFs). Notably, SWIB’s latest filing builds on its May 2024 disclosure, which reported $163 million in Bitcoin ETF holdings, including approximately $99.1 million in BlackRock’s iShares Bitcoin Trust (IBIT), the same fund UAE’s Mubadala Investment Co invested about $435 million in this week. SWIB held around 1 million Grayscale’s Bitcoin Trust (GBTC) shares, valued at $63.7 million. Beyond Bitcoin ETFs, SWIB has also invested in various crypto-related companies, including Coinbase, Marathon Digital, Riot Platforms, Block, and MicroStrategy, indicating a broader institutional shift toward crypto assets. Founded in 1951, SWIB manages assets for public pension funds and other trusts. By the end of 2023, its total assets under management (AUM) reached $156 billion. Wisconsin’s move aligns with a growing trend among pension funds worldwide. Institutional players, traditionally known for their conservative approach, are now showing increased interest in Bitcoin . In the U.S., policymakers are also recognizing Bitcoin’s potential role in retirement portfolios. U.S. Senator Cynthia Lummis has publicly encouraged Americans to consider Bitcoin as a long-term retirement asset, stating in January, “I encourage people to save Bitcoin for their retirement, for their future.” In the same month, Indiana Rep. Teshka and Kansas Senator Bowser introduced bills advocating for public employee retirement funds to allocate up to 10% of their portfolios to Bitcoin ETFs. Meanwhile, Michigan’s pension fund became the first to invest in Grayscale’s Ethereum ETF last November, although it still holds around $7 million in ARK 21Shares BTC ETF shares. That said, interest in Bitcoin as an institutional asset is not confined to the United States. Last November, a UK pension fund allocated 3% of its $65 million AUM directly into Bitcoin instead of ETFs, signaling a shift in strategy among international institutional investors. Elsewhere, Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund with $1.5 trillion in AUM, announced last March it had begun studying Bitcoin as part of its diversification strategy alongside gold, timber, and farmland. Bloomberg analyst Eric Balchunas has previously weighed in on the trend, commenting, “ Institutions tend to move in herds,” suggesting that more pension funds may follow SWIB’s lead.

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