As reported by Financial Times, these traditionally conservative institutions are now among the top holders of US stock market funds focused on crypto.
The State of Wisconsin Investment Board has secured its spot as the 12th largest shareholder in BlackRock’s Bitcoin ETF, with its investment ballooning to around US$155 million by September.
Not to be outdone, Michigan boasts hefty stakes in Grayscale’s Ethereum ETF and the ARK 21Shares Bitcoin ETF, collectively worth over US$12.9 million.
Across the pond, UK pension funds are also testing the crypto waters. Cartwright, a UK pensions consultancy, guided a small pension scheme to invest £1.5 million directly in Bitcoin.
Down under, Australia’s AMP is spicing up its portfolios with Bitcoin futures to boost returns.
This shift comes despite past crypto mishaps—like the Ontario Teachers’ Pension Plan’s US$95 million loss from the collapse of cryptocurrency exchange FTX in 2022.
As more pension funds tiptoe into crypto, opportunities abound in asset management and advisory services for this booming sector.
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