Bitcoin ETFs in Wisconsin amount to almost $170 million in holdings.
The State of Wisconsin Investment Board has invested in the two largest spot Bitcoin exchange-traded funds (ETFs) and holds shares in various cryptocurrency companies, according to a filing with the US Securities and Exchange Commission (SEC). The filing revealed that Wisconsin owns 2.4 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) valued at nearly $99.1 million, as well as over 1 million Grayscale GBTC shares worth more than $63.3 million. The state’s investment board also holds positions in crypto equities from companies including Coinbase, Riot Platform, and MicroStrategy. The move by Wisconsin signals a growing interest in Bitcoin-backed products in the US and could encourage other institutions and government agencies to follow suit, said ETF expert Eric Balchunas. Since the SEC approved 11 spot BTC ETFs in January, these products have gained significant traction, with BlackRock and Grayscale leading the market. Banks such as Wells Fargo, which initially avoided these products, have since allowed clients to invest in spot BTC ETFs and have even invested their own capital in Grayscale offerings.
