In a notable increase to its BTC exposure, the Wisconsin State Investment Board added more than 447,000 shares to its Spot Bitcoin ETF holdings. Indeed, a filing with the US Securities and Exchange Commission (SEC) showed the board reported owning 2,898,051 shares in BlackRock’s BTC ETF.
That is an increase from the 2,450,400 it reported in May. The state has steadily enhanced its position in the $10 trillion asset manager iShares Bitcoin Trust (IBIT). Currently, the board’s holdings are valued at nearly $99 million. It has also made IBIT the only BTC ETF it holds.
State of Wisconsin Investment Board
Source: Pensions & Investments
Also Read: Goldman Sachs Discloses $418 Million Bitcoin ETF Holdings
Wisconsin Investment Board Increases Spot Bitcoin ETF Holdings
Bitcoin ETFs have been the story of 2024 so far. The product became the first crypto-based ETF in the United States. Moreover, it opened the door for Ethereum’s iteration just five months later. BTC has thrived from the investment offering. Just three months after it debuted, the token reached an all-time high of $73,000.
That seems to have only increased institutional interest. Indeed, Wisconsin state has added more than 447,000 shares to its Spot Bitcoin ETF holdings. A new filing shows the investment board’s increased position. Yet, it also shows its increased confidence in BlackRock’s offering.
Source: news.bitcoin.com
Also Read: State of Wisconsin Investment Board Reveals $99M in Bitcoin ETF
The filing shows that the board no longer holds a position in Grayscale’s Bitcoin Trust (GBTC). That is a noticeable shift from May. The firm had reported holding 1,013,000 shares in the BTC product. Yet, it has focused all of its Bitcoin ETF investment into the one issued by the world’s largest asset manager.
The State of Wisconsin investment board was one of the first states to report Bitcoin ETF holdings. The initial report in May preceded several other states following in its footsteps. Those include Jersey City New Jersey. The city’s mayor, Steven Fulop, said its BTC ETF strategy would be similar to Wisconsin’s 2% allocation.