U.S. Pension Fund Invests Heavily in Bitcoin and Ethereum ETFs
Michigan has made a significant leap into cryptocurrency investments, revealing its holdings in Bitcoin and Ethereum exchange-traded funds (ETFs) in a recent 13F filing with the SEC.
The Michigan Retirement System, which manages around $144 million in pension funds, invested over $6.9 million in the ARK/21Shares Bitcoin ETF, comprising approximately 110,000 shares.
Additionally, it has become the first state pension fund to invest in an Ethereum ETF, totaling about $10 million, which positions Michigan among the top five holders of Ethereum and the Grayscale Ethereum Trust.
In contrast, Wisconsin’s investment board has disclosed Bitcoin ETF holdings, including those from BlackRock and Grayscale. The quarterly 13F filings provide insights into institutional investment strategies, revealing that spot Bitcoin ETFs are experiencing a six-month high in demand.
READ MORE:
Marathon Digital and Riot Platforms Achieve Record Bitcoin Production in 2024However, despite a robust October, Bitcoin ETFs faced a net outflow of $54.9 million at the start of November, with Fidelity’s FBTC contributing significantly to this decline.
Grayscale’s GBTC saw only $5.51 million in outflows, suggesting stabilization, while BlackRock’s iShares Bitcoin Trust (IBIT) recorded no activity on November 1 after a significant influx of $872 million on October 30.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ECB shifts stance! Will interest rate hikes resume in 2026?
In the debate over "further tightening" versus "maintaining the status quo," divisions within the European Central Bank are becoming increasingly public. Investors have largely ruled out the possibility of the ECB cutting interest rates in 2026.
On the eve of Do Kwon's trial, $1.8 billion is being wagered on his sentence
Dead fundamentals, vibrant speculation.
Space Review｜When the US Dollar Weakens and Liquidity Recovers: Cryptocurrency Market Trend Analysis and TRON Ecosystem Strategy
This article reviews the identification of macro turning points and the capital rotation patterns in the crypto market, and delves into specific allocation strategies and practical approaches for the TRON ecosystem during market cycles.
30-Year Wall Street Veteran: Lessons from Horse Racing, Poker, and Investment Legends That Inspired My Bitcoin Insights
What I focus on is not the price of bitcoin itself, but rather the position allocation of the group of people I am most familiar with—those who possess significant wealth, are well-educated, and have successfully achieved compounding returns on capital over decades.
Trending news
MoreCrypto prices
More
