Blogs & Articles: Wisconsin Investment Board Announces $162 Million Investment in Spot Bitcoin ETFs 🔗 17 weeks ago

The State of Wisconsin Investment Board (SWIB) has disclosed significant investments in Bitcoin Exchange-Traded Funds (ETFs) through a recent filing with the Securities and Exchange Commission (SEC). 

According to the filing, SWIB holds nearly $100 million worth of BlackRock's spot Bitcoin ETF (IBIT).

This disclosure positions SWIB as the first state-level institution to publicly announce its holdings in spot Bitcoin ETFs, marking a significant step toward integrating Bitcoin into traditional investment portfolios.

Eric Balchunas, Senior ETF Analyst at Bloomberg, commented that it is a "good sign, expect more, as institutions tend to move in herds."

Wow, a state pension bought $IBIT in first quarter. Normally you don't get these big fish institutions in the 13Fs for a year or so (when the ETF gets more liquidity) but as we've seen these are no ordinary launches. Good sign, expect more, as institutions tend to move in herds https://t.co/leKVe2CK1S

— Eric Balchunas (@EricBalchunas) May 14, 2024

SWIB also revealed in the filing that it holds over $63 million of Grayscale's spot Bitcoin ETF (GBTC), bringing its total investment in these holdings to over $162 million.

The recent wave of 13F filings by institutions disclosing their Bitcoin ETF holdings highlights the growing institutional interest in Bitcoin. 

These filings include not only prominent institutional investors like SWIB but also major traditional firms such as JPMorgan Chase, the largest bank in America, which has disclosed its spot Bitcoin ETF holdings as a market maker for these ETFs.

Market researcher and analyst MacroScope stated that "Wisconsin is now the second-largest reporting holder of IBIT globally. This will be closely analyzed and widely discussed by other state investment boards. Watch for others to follow in coming quarters."

Certainly one of the most important disclosures for Bitcoin to date. The State of Wisconsin Investment Board reports the following positions:

BlackRock Bitcoin ETF: $99,167,688 (2,450,400 shares)
Grayscale BTC: $63,687,310 (1,013,000 shares)

This is a small part of a massive…

— MacroScope (@MacroScope17) May 14, 2024