The State of Wisconsin Investment Board (SWIB) and others reported investments in spot Bitcoin ETFs.
In a May 14 filing, SWIB disclosed 2.5 million shares of BlackRock’s IBIT worth $99.1 million and 1.0 million shares of Grayscale’s GBTC worth $63.7 million.
The investment makes SWIB the second-largest holder of IBIT after Bracebridge Capital. SWIB is also the seventh largest GBTC holder, surpassed by others, including the largest holder, Susquehanna International Group (SIG).
SWIB is an independent state agency responsible for managing the assets of the Wisconsin Retirement System, the State Investment Fund (SIF), and other state funds.
Bloomberg ETF analyst Eric Balchunas noted that the investment is unusually early for its type, stating that “big fish institutions” usually wait about one year for ETFs to achieve greater liquidity.
He added:
“These are no ordinary launches … good sign, expect more, as institutions tend to move in herds.”
Titan and Keybank invest
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