2024-05-16
The State of Wisconsin Investment Board recently disclosed its holdings in the iShares Bitcoin Trust and the Grayscale Bitcoin Trust in a 13F filing.
As of the end of the first quarter of 2024, the Board held approximately $100 million worth of the iShares Bitcoin Trust, equivalent to 2,450,400 shares valued at $99,167,688.
Additionally, they owned 1,013,000 shares of the Grayscale Bitcoin Trust, valued at around $63,687,310.
The Board's portfolio also includes shares of other cryptocurrency firms such as Coinbase, Marathon Digital, Riot Platforms, Block, Cipher Mining, Cleanspark, and MicroStrategy.
The State of Wisconsin Investment Board is a Wisconsin state agency responsible for managing investments for public retirement and other trust funds.
While they have previously made investments in cryptocurrencies, they also maintain investments in traditional financial vehicles.
According to Data, the iShares Bitcoin Trust (IBIT) and the Grayscale Bitcoin Trust (GBTC) are the top spot bitcoin ETFs based on market share.
The Board's interest in spot bitcoin ETFs has garnered attention, as it indicates institutional involvement in the market earlier than anticipated. Bloomberg's ETF analyst, Eric Balchunas, commented on this development, noting that it is uncommon to see state pensions investing in these types of ETFs so quickly. He expects more institutions to follow suit.
It is worth mentioning that IBIT has set records by surpassing the $10 billion assets under management (AUM) mark at an impressive pace.
Previously, the JPMorgan Nasdaq Equity Premium Income ETF held the record, taking around three trading years to reach $10 billion AUM. In contrast, IBIT achieved this milestone in just 49 days.
