The amount represents 0.1% of the fund’s total assets under management.<\/p>\n
Pensioners in Wisconsin are now exposed to Bitcoin, after the state\u2019s pension fund allocated roughly 0.1% of its $156 billion portfolio to spot Bitcoin ETFs.<\/p>\n
The State of Wisconsin Investment Board invested roughly $160 million in Blackrock\u2019s iShares Bitcoin Trust and Grayscale\u2019s Bitcoin Trust, according to a Form 13-F filing<\/a> to the SEC.<\/p>\n Having a fund of its size and solvency allocate even a small percentage of its assets under management to Bitcoin signals the asset is maturing and seen as a legitimate investment.<\/p>\n Wisconsin\u2019s State Pension Fund is one of the most financially sound funds in the U.S. According to the State of Pensions 2023 report<\/a> conducted by pension analyst firm Equable, Wisconsin ranks 5 in funded ratio, at 100.2%. The figure leaves Wisconsin comfortably ahead of the nation-wide average at 78%, signaling significant solvency among similar funds of its kind.<\/p>\n It\u2019s considered a \u201cgreat success<\/a>\u201d by the Wisconsin Retired Educators Association, ranking 25 largest in the world, and ninth in the country.<\/p>\n \u201cThis is just an entry point and I think they\u2019re [the fund] testing the public\u2019s reaction,\u201d said Marquette University Associate Professor of Emeritus Finance David Krause in a May 31 PBS interview<\/a>. \u201cIt\u2019s a trial run that\u2019s not really going to impact the portfolio substantially, but rather add diversification until it reaches a 1 or even 2% allocation.\u201d<\/p>\n Wisconsin\u2019s State Pension Fund is one of the first to add cryptocurrencies or its derivatives to its balance sheet.<\/p>\n Last year, the third largest pension fund in the world, Korea\u2019s National Pension Service, purchased $20 million<\/a> in Coinbase shares, and it was reported that Japan\u2019s government pension fund\u2013the largest in the world with $1.69 trillion in assets under management\u2013was exploring \u201cilliquidity assets\u201d like Bitcoin.<\/p>\n Previously, two Canadian funds had diversified into digital assets, although those investments came with devastating consequences. The Ontario Teachers\u2019 Pension Plan invested<\/a> $75 million in FTX in November, 2022, and Canadian pension fund manager Caisse de D\u00e9p\u00f4t et Placement du Qu\u00e9bec allocated $130 million in Celsius in October, 2021.<\/p>\n Fairfax County in Virginia also disclosed an investment in cryptocurrencies through the privately-run digital asset manager Morgan Creek Capital. <\/p>\n“Great Success”<\/h2>\n
First of its Kind<\/h2>\n