What to know:
- Wisconsin’s investment board increased its holdings in BlackRock’s iShares Bitcoin Trust (IBIT) to over 6 million shares. 🤑
- The state fund was the first of its kind to report a bitcoin ETF purchase in 2024. 👀
- Michigan’s retirement system also disclosed bitcoin ETF holdings in 2024, but as of press time had yet to file a disclosure for its year-end positions. 🤷♂️
In an act worthy of the devil’s laughter, Wisconsin’s investment board chose to dramatically thicken its plot with Bitcoin (BTC) in the final months of this whimsical year. 🎩✨
The State of Wisconsin Investment Board (SWIB) spilled the beans, or rather, the bitcoins, revealing ownership of just over 6 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) as of December 31. This is up from a modest 2.9 million shares three months prior. 🕵️♂️📈
The crystal ball placed the value of this position at a dazzling $321 million by year-end, soaring to about $588 million at the current bitcoin price of nearly $98,000. 🤑💸
Ah, the adventures of 2024! The fund was the inaugural party crasher to announce a bitcoin ETF purchase, initially grabbing 94,562 shares of IBIT and some shares of Grayscale’s Bitcoin Trust (GBTC), which it decided to part ways with later. 👋💼
Not to be left out, Michigan’s Retirement System also waved its wand, revealing a stash of bitcoin ETFs, including the ARK 21Shares Bitcoin ETF (ARKB) and a couple of Grayscale’s trinkets. 🧙♂️🏦
Founded in 1951, SWIB now steers more than $156 billion in assets, covering the Wisconsin Retirement System (WRS) and the State Investment Fund (SIF). They manage investments on behalf of state employees and other mysterious funds. 💰🌲
Today is the fateful day when institutional investors managing at least $100 million in assets must unveil their quarterly holdings to the all-seeing eyes of the Securities and Exchange Commission (SEC). The market is keenly watching, trying to sniff out if the old money has been dabbling in the new and shiny bitcoin ETFs since their dazzling debut last year. 🔍🏦
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2025-02-14 21:02