Bitcoin ETF

Bitcoin

BlackRock

<p>The State of Wisconsin Investment Board has increased its holdings in BlackRock’s iShares Bitcoin Trust, as revealed in a recent SEC filing.&nbsp;</p> 
<p>A U.S. SEC <a href="https://www.sec.gov/edgar/search/#/q=Bitcoin&amp;dateRange=custom&amp;entityName=Wisconsin&amp;startdt=2024-05-14&amp;enddt=2024-05-14" target="_blank" rel="">filing</a> on August 14 shows that the State of Wisconsin now holds almost 2.9 million shares of <a href="https://crypto.news/tag/blackrock/" data-type="link" data-id="https://crypto.news/tag/blackrock/" target="_blank" rel="noreferrer noopener">BlackRock’s</a> iShares Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="noreferrer noopener">BTC</a>) Trust worth approximately $99.1 million.</p> 
<p>SWIB’s IBIT holdings rose by 447,651 shares, bringing the total to 2,898,051, meaning the board spent approximately $14 million to acquire more shares.</p> 
<p>This move marks a shift in SWIB’s investment strategy, as the board has fully exited its position in the <a href="https://crypto.news/tag/Grayscale/" target="_blank" data-type="link" data-id="https://crypto.news/tag/Grayscale/" rel="noreferrer noopener">Grayscale</a> Bitcoin Trust, where it previously held 1,013,000 shares.</p> 
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   <p lang="en" dir="ltr">In an SEC filing today, the State of Wisconsin Investment Board reported owning 2,898,051 shares of the iShares Bitcoin Trust as of June 30 (valued at $98.9 million as of that date).<br><br>This is an increase from the 2,450,400 shares that Wisconsin previously reported in May.…</p>— MacroScope (@MacroScope17) <a href="https://twitter.com/MacroScope17/status/1823742878046195865?ref_src=twsrc%5Etfw" target="_blank" rel="">August 14, 2024</a>
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<p> You might also like: <a href="https://crypto.news/bitcoin-is-bullish-because-rate-cuts-are-coming-bitfinex/"> Bitcoin is bullish because rate cuts are coming: Bitfinex </a> </p> 
<h2 class="wp-block-heading" id="bitcoin-confidence">Bitcoin confidence</h2> 
<p>The board, which manages public funds, <a href="https://crypto.news/bitcoin-etfs-wisconsin-holdings-crypto/">purchased over</a> 1 million Grayscale GBTC shares valued at more than $63.3 million earlier this year, but now they are holding BlackRock’s BTC ETF.</p> 
<p>This increase in IBIT holdings reflects growing institutional confidence in Bitcoin, with SWIB opting for direct Bitcoin exposure through spot ETFs. Wisconsin’s investment underscores the growing institutional interest in Bitcoin-backed products and may inspire other institutions and government agencies to follow suit.</p> 
<p>Despite Bitcoin’s recent price fluctuations, the ongoing investment in spot Bitcoin ETFs signals a robust belief in the cryptocurrency’s long-term potential.</p> 
<p> You might also like: <a href="https://crypto.news/goldman-sachs-reveals-418m-bet-on-bitcoin-etfs/"> Goldman Sachs reveals $418m bet on Bitcoin ETFs </a> </p>

Wisconsin adds 447k shares to BlackRock Bitcoin ETF holdings

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