Wisconsin Invests $321 Million in BlackRock Bitcoin ETFs
- SWIB doubles investment in Bitcoin ETF
- IBIT reaches US$ 56 billion in management
- Crypto diversification increases
In a strategic move highlighted by a recent SEC filing, the State of Wisconsin Investment Board (SWIB) has stepped up its participation in the cryptocurrency market, specifically Bitcoin, through BlackRock’s iShares Bitcoin Trust (IBIT). By the end of 2024, SWIB will have an impressive 6 million shares in IBIT, worth over $321 million, up from 2,8 million shares held at the end of September.
This expansion in investment followed a notable decision to completely divest its 1.013.000 shares in Grayscale Bitcoin Trust (GBTC) during the second quarter of the same year. The decision to redirect focus to IBIT underscores the board’s preference for actively managed funds in the cryptocurrency sector.
IBIT has quickly established itself as the fastest-growing Bitcoin spot fund on the market. Since its launch, the fund has attracted approximately $41 billion in net inflows, with assets under management scaling to an impressive $56 billion as of February 14, 2025.
In addition to IBIT, the Wisconsin board has also diversified its cryptocurrency investments, including significant stakes in entities such as Coinbase, MARA Holdings, Robinhood and Block Inc. This diversified portfolio reflects a robust investment strategy in emerging and financial technologies.
At the time of publication, the price of BTC was quoted at US$97.505,85, up 1,7% in the last 24 hours.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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