Institutional Bitcoin Adoption Surge: Michigan Pension Fund Invests $6.6M in BTC ETFs
- State of Michigan Retirement System has invested $6.6 million in ARK 21Shares BTC ETF.
- The state of Wisconsin’s investment board invested $162 million spot BTC ETFs.
- Spot ETH ETFs are also expected to attract significant interest in the near future.
The State of Michigan Retirement System, the pension fund responsible for managing retirement programs for Michigan’s state employees, has strategically invested $6.6 million in spot Bitcoin exchange-traded funds (ETFs), specifically purchasing the ARK 21Shares Bitcoin ETF. This move underscores the fund’s optimistic outlook on the world’s leading digital asset.
A recent Reuters report, citing a Friday filing, revealed this to be the State of Michigan Retirement System’s second investment in spot Bitcoin ETFs, which received approval from the United States Securities and Exchange Commission (SEC) in January. This development highlights the growing institutional interest in digital investment products.
The State of Michigan Retirement System currently oversees approximately $143.9 billion in assets. In a similar vein, the state of Wisconsin’s investment board, managing a substantial $156 billion, recently dis…
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