In a recent SEC filing, the State of Wisconsin Investment Board (SWIB) has reported substantial investments in Bitcoin Exchange-Traded Funds (ETFs). SWIB's filing disclosed nearly $100 million worth of BlackRock's iShares Bitcoin Trust (IBIT) and over $63 million in Grayscale's Bitcoin Trust (GBTC), totaling an investment of over $162 million in Bitcoin ETFs.

The investment represents a pioneering step by a state-level institution in the United States, as SWIB becomes the first to publicly announce its holdings in Bitcoin ETFs. According to Bloomberg Senior ETF Analyst Eric Balchunas, this early investment by a major institution is a positive indicator for future institutional interest. "Wow, a state pension bought $IBIT in the first quarter. Normally you don't get these big fish institutions in the 13Fs for a year or so...but as we've seen these are no ordinary launches," Balchunas said. "Good sign, expect more, as institutions tend to move in herds."

Further emphasizing the significance of the move, market researcher and analyst MacroScope stated, "This is a small part of a massive public investment fund (total value of all positions in the 13F filing is $37.8 billion). But the long-term importance cannot be overstated." MacroScope highlighted Wisconsin as the second-largest reporting holder of IBIT globally, predicting that other state investment boards will carefully scrutinize this move and potentially follow suit in future quarters.

SWIB, founded in 1951, manages more than $156 billion in assets, including the Wisconsin Retirement System (WRS), the State Investment Fund (SIF), and other state trust funds.

SEC Filing

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