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The State of Michigan Retirement System has added exposure to Ether exchange-traded funds (ETFs), according to a United States Securities and Exchange Commission (SEC) filing.&nbsp;
In a Nov. 4 SEC filing, Michigan’s state pension fund <a data-ct-non-breakable="null" href="https://www.sec.gov/Archives/edgar/data/762152/000076215224000013/xslForm13F_X02/InformationTable_09_30_24.xml" rel="null" target="null" text="null" title="null">disclosed</a> holding 460,000 shares of the Grayscale Ethereum Trust and 460,000 shares of the asset manager’s Ethereum Mini Trust. The investment, reporting for Sept. 30, added to the fund’s <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/michigan-pension-fund-bitcoin-etfs" rel="null" target="null" text="null" title="null">previously disclosed exposure</a> to the ARK 21Shares Bitcoin ETF.
At the time of publication, the total value of the Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) and Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>) investments was roughly $18 million if Michigan maintained its holdings. The value of the 110,000 shares of the ARK 21Shares Bitcoin ETF held by the pension fund increased by roughly $1 million since being reported on June 30.<iframe width="100%" height="315" src="https://www.youtube.com/embed/l1-LrtwLGrE" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
The ARK 21Shares Bitcoin ETF was one of the first spot investment vehicles tied to BTC that the SEC approved for listing and trading on US exchanges in January. The regular followed with <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-spot-ether-etf-approved" rel="null" target="null" text="null" title="null">greenlighting spot ETH exchange-traded products</a> in May.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/grayscale-bitcoin-ether-mini-etfs-pulled-750-million-3-months" rel="null" target="null" text="null" title="null">Grayscale’s Bitcoin, Ether ’mini’ ETFs pulled $750M in first 3 months</a>
2024 saw some government entities in the US and internationally turn to cryptocurrency investments for pension funds.&nbsp;
South Korea’s pension service <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/south-korea-pension-fund-nps-buys-microstrategy-shares" rel="null" target="null" text="null" title="null">reported roughly $34 million in exposure</a> to MicroStrategy, which heavily invests in Bitcoin. Officials in Florida have also made efforts to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/florida-state-cfo-wants-bitcoin-included-state-pension-funds" rel="null" target="null" text="null" title="null">have the state’s retirement funds</a> invest directly in BTC.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/hype-ai-agents-crypto-just-turned-into-reality/" rel="null" target="null" text="null" title="null">AI agents trading crypto is a hot narrative, but beware of rookie mistakes</a>

Michigan pension fund maintains Bitcoin ETF investment, adds Ether ETFs

Cointelegraph

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