The entity responsible for managing assets in the state’s pension system reported it held millions of shares of the BlackRock iShares Bitcoin Trust and Grayscale Bitcoin Trust.
The State of Wisconsin Investment Board (SWIB) reported investments in spot Bitcoin (BTC) exchange-traded funds offered by Grayscale and BlackRock.
In a May 14 filing with the U.S. Securities and Exchange Commission (SEC), the government entity responsible for managing Wisconsin state trust funds disclosed it held more than 2.4 million shares in the BlackRock iShares Bitcoin Trust (IBIT) and more than a million shares of Grayscale Bitcoin Trust (GBTC), worth roughly $100 million and $64 million, respectively. The filing suggested that the Wisconsin Retirement System could have exposure to crypto investments through the two asset management firms.
The SWIB reported that it managed more than $156 billion in assets as of December 2023, with roughly 48% going into public equity investments. Other investments included shares of stock in Coinbase, MicroStrategy and Cleanspark. The SEC added that observers should not assume that the information provided by the state entity was “accurate and complete.”
