The State of Wisconsin Investment Board (SWIB) has increased its investment in BlackRock's iShares bitcoin Trust (IBIT), according to a new SEC filing bitcoin&dateRange=custom&entityName=Wisconsin&startdt=2024-08-14&enddt=2024-08-14″>presentation today, as first reported on x MacroScope.
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In an SEC filing today, the Wisconsin State Investment Board reported that it owned 2,898,051 shares of iShares bitcoin Trust as of June 30 (valued at $98.9 million as of that date).
This represents an increase from the 2,450,400 actions Wisconsin previously reported in May.…
— MacroScope (@MacroScope17) twitter.com/MacroScope17/status/1823742878046195865?ref_src=twsrc%5Etfw”>August 14, 2024
As of June 30, the board of directors owns 2,898,051 shares, valued at $98.9 million. This is a substantial increase of 447,651 shares from the 2,450,400 shares reported in May. Notably, the filing also revealed that the board no longer has any positions in Grayscale bitcoin Trust (GBTC), a change from May, when it reported holding 1,013,000 shares.
Earlier this year in May, SWIB became the first state pension fund to purchase bitcoin spot ETFs, marking another major milestone in integrating bitcoin into traditional investment portfolios. The board’s decision to increase its investment in IBIT highlights a growing preference for direct exposure to bitcoin via spot ETFs, reflecting broader institutional confidence in bitcoin’s long-term potential.
Despite the recent drop in bitcoin price, money continues to flow into bitcoin spot ETFs, with a combined inflow of $243.06 million since July 24.
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US bitcoin Spot ETFs 2 consecutive days of inflows image.twitter.com/8txUOkdT61
— HODL15Capital (@HODL15Capital) twitter.com/HODL15Capital/status/1823666519793877284?ref_src=twsrc%5Etfw”>August 14, 2024
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