Bitcoin

David Vance

Krause

Reported by The Defiant, pensioners in Wisconsin are now exposed to Bitcoin, after the state’s pension fund allocated roughly 0.1% of its $156 billion portfolio to spot Bitcoin ETFs.
The State of Wisconsin Investment Board invested roughly $160 million in Blackrock’s iShares Bitcoin Trust and Grayscale’s Bitcoin Trust, according to a Form 13-F <a rel="noopener noreferrer nofollow" target="_blank" href="https://www.sec.gov/Archives/edgar/data/854157/000106299324010116/xslForm13F_X02/form13fInfoTable.xml">filing</a> to the SEC.
Having a fund of its size and solvency allocate even a small percentage of its assets under management to Bitcoin signals the asset is maturing and seen as a legitimate investment.
Wisconsin’s State Pension Fund is one of the most financially sound funds in the U.S. According to the <a rel="noopener noreferrer nofollow" target="_blank" href="https://equable.org/wp-content/uploads/2024/01/State-of-Pensions-2023_January-Update_Final.pdf">State of Pensions 2023 report</a> conducted by pension analyst firm Equable, Wisconsin ranks 5 in funded ratio, at 100.2%. The figure leaves Wisconsin comfortably ahead of the nation-wide average at 78%, signaling significant solvency among similar funds of its kind.
It’s considered a “great success” by the Wisconsin Retired Educators Association, ranking 25 largest in the world, and ninth in the country.
“This is just an entry point and I think they’re [the fund] testing the public’s reaction,” said Marquette University Associate Professor of Emeritus Finance David Krause in a May 31 PBS interview. “It’s a trial run that’s not really going to impact the portfolio substantially, but rather add diversification until it reaches a 1 or even 2% allocation.”

Wisconsin Pension Fund Purchased $160M Bitcoin ETFs

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