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).
Nasdaq is deepening its push into tokenized markets with a $100 million investment in Payward,…
MoneyGram is pushing stablecoins beyond crypto trading and remittances with a new payment card designed…
Hunter Biden’s newly launched LAPTOP memecoin delivered exactly the kind of chaos critics warned about…
Jack Dorsey's Block is making another major move into regulated finance, applying to create a…
Some of the world's biggest AI platforms experienced overlapping service disruptions on Thursday, September 3,…
Official U.S. economic data is moving directly onto public blockchains. The U.S. Department of Commerce…