State of Wisconsin Investment Board Increases Exposure to Bitcoin through BlackRock ETF
The State of Wisconsin Investment Board (SWIB) disclosed ownership of 2,898,051 shares of BlackRock‘s iShares Bitcoin Trust (IBIT) as of June 30, according to an SEC filing. The shares are valued at nearly $99 million based on the average BTC price during the second quarter.
SWIB has increased its exposure to Bitcoin ETFs from the previously reported 2.5 million shares at the end of March. The filing also shows that SWIB has sold off its 1 million shares of Grayscale‘s GBTC held in the first quarter.
SWIB oversees the assets of the Wisconsin Retirement System, the State Investment Fund (SIF), and other state funds.
US States See Bitcoin ETF Investments Rise
On July 26, the State of Michigan Retirement System reported holding 110,000 shares in ARK 21Shares Bitcoin ETF (ARKB), equivalent to nearly $6.6 million. This represents only 0.004% of their $143.9 billion in assets under management.
Jersey City Mayor Steven Fulop has publicly discussed the city’s pension fund’s plan to invest in Bitcoin through ETFs.
Week of Inflows for Bitcoin ETFs
Bitcoin ETFs in the US saw inflows totaling nearly $67 million between Aug. 12 and Aug. 13. Notably, BlackRock’s IBIT had inflows of $34.6 million during this period, while Grayscale’s GBTC saw outflows grow from $11.8 million to $28.6 million.
Other ETFs like Bitwise’s BITB and ARK 21Shares’ ARKB also experienced outflows in this period. Despite some fluctuations, ARKB remains positive with a net flow of $29.3 million.
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