The Wisconsin Investment Commission owns about $163 million worth of shares in a top-tier Bitcoin exchange-traded fund (ETF), according to regulatory filings.
The state's board of directors currently owns 2,450,400 shares of BlackRock's iShares Bitcoin Trust (IBIT) ETF, valued at $99.1 million, and Grayscale, according to a 13F Form filed with the U.S. Securities and Exchange Commission (SEC).・Purchased 1,013,000 shares of Bitcoin Trust (GBTC). ) worth $63.6 million in the first quarter of this year.
The Wisconsin Investment Commission is responsible for pension funds and other trusts for Wisconsin residents.
In addition to the Bitcoin ETF, the investment committee also has investments in Coinbase, the largest U.S. cryptocurrency exchange, and MicroStrategy, a software company that holds more Bitcoin than any other publicly traded company. . It has also invested in Bitcoin mining companies such as Riot Platforms, CleanSpark, Marathon Digital, and Cipher Mining.
The application presents the example of a traditional financial institution seeking exposure to the largest cryptocurrency by market capitalization.
IBIT and GBTC are two popular investment vehicles that offer investors an easy way to gain exposure to Bitcoin. They are traded on American stock exchanges. In particular, IBIT has broken records since its establishment in January, recording huge inflows as the general public embraces the Bitcoin trend.
The ETF, approved by the SEC in January, gives traditional investors exposure to Bitcoin. Previously, buying cryptocurrencies was considered complicated as it required using a cryptocurrency exchange to store your digital assets.
But with the historic approval of 11 ETFs, investors can now buy stocks traded on U.S. stock exchanges. Stocks track the price of digital coins and can be easily bought and sold through a brokerage account.
Edited by Andrew Hayward
