The Wisconsin Investment Commission believes that it can significantly increase its Bitcoin (BTC) bets over the past three months.
As of December 31, the Wisconsin Investment Commission (SWIB) disclosed ownership of BlackRock’s Ishares Bitcoin Trust (IBIT) over 6 million shares Submit every FridayFrom about 2.9 million shares three months ago, it was as high as 2.9 million shares.
As of the end of the year, the position was worth $321 million, worth about $588 million, and the current price of Bitcoin is close to $98,000.
The fund became the first of the first companies to report buying Bitcoin ETFs in 2024, initially bought 94,562 shares of IBIT and Grayscale Bitcoin Trust (GBTC) shares and later sold.
The Michigan Retirement System also later reported stakes in two Bitcoin products, the Bitcoin ETF, the ARK 21Shares Bitcoin ETF (ARKB) and Grayscale.
Founded in 1951, Swib oversees over $156 billion in assets, including funds from the Wisconsin Retirement System (WRS) and the National Investment Fund (SIF). The board of directors manages investments on behalf of state employees and other trusts.
Today is the deadline for institutional investors managing at least $100 million in assets, reporting quarterly holdings to the Securities and Exchange Commission (SEC). The market is closely monitoring the documents to measure whether large traditional finance companies have added Bitcoin ETFs to their portfolios since their launch last year.
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