The State of Wisconsin Investment Board (SWIB) has doubled its holdings in BlackRock’s iShares Bitcoin Trust (IBIT), adding over 3 million shares to reach 6 million shares valued at over $321 million as of December 31, 2024, according to a recent SEC filing.
The increase marks a remarkable expansion from around 2,8 million shares the state pension fund held at the end of September 2024. The board divested its position of 1,013,000 shares in the Grayscale Bitcoin Trust (GBTC) during the second quarter of 2024, before expanding its IBIT investment. IBIT has emerged as the fastest-growing spot Bitcoin fund, accumulating approximately $41 billion in net inflows since its launch. The fund’s assets under management reached $56 billion as of Feb. 14.
The Wisconsin board has diversified its crypto-related investments beyond IBIT, with stakes in Coinbase, MARA Holdings, Robinhood, and Block Inc. Earlier this week, Goldman Sachs disclosed its holdings of over $1.5 billion in US spot Bitcoin exchange-traded funds (ETFs), including around $1.2 billion in IBIT and $288 million in Fidelity’s Bitcoin fund (FBTC).
- Pro-Crypto Congressman French Hill to Lead Powerful House Financial Services Committee Panel Next Term
- Donald Trump Vows to Make America the ‘Undisputed Bitcoin Superpower in Video to Digital Asset Summit
- Reddit Files to Go Public, Says It Invested in Bitcoin Ethereum and Polygon
- Goldman Sachs Named as Authorized Participant on BlackRock’s Bitcoin ETF
- Feds Are Investigating Jack Dorsey’s Block Over it’s Bitcoin Business
- Nasdaq Seeks SEC Approval to List 21Shares Polkadot ETF