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State of Wisconsin Unveils $163,000,000 in BlackRock and Grayscale Bitcoin ETF Holdings

One US state reveals major stakes in two major Bitcoin (BTC) trusts.

New 13-F filings with the U.S. Securities and Exchange Commission (SEC) reveal that the State of Wisconsin Investment Board has BTC exchange-traded fund (ETF) holdings with Blackrock’s iShares Bitcoin Trust (IBIT) and Grayscale’s Bitcoin Trust (GBTC ) for a total of nearly $163 million.

IBIT and GBTC are the two largest Bitcoin-based ETFs by trading volume.

The State of Wisconsin Investment Board is a state agency that manages investments for public pension and trust funds. It has diversified investments including cryptocurrency, Coinbase, Marathon Digital, Riot Platforms, Block, Cipher Mining, Cleanspark, Microstrategy and other traditional financial vehicles.

The investment was made before March 15, 2024, the deadline for institutional investors to disclose their holdings in the first quarter.

Says senior Bloomberg ETF analyst Eric Balchunas of the recent revelation,

“Wow, a state pension bought IBIT in the first quarter. You normally don’t see these big fish institutions in the 13Fs for a year or so (when the ETF gains more liquidity), but as we’ve seen, these are no ordinary launches. A good sign, expect more as institutions tend to move in herds.”

At the time of writing, Bitcoin is trading at $61,301, down 2.5% in the past 24 hours.

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Disclaimer: The opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making risky investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/Andy Chipus/NextMarsMedia