Michigan adds $6.6m in Bitcoin ETFs to pension fund
The ETF investment, revealed in a 13-F form submitted to the SEC, represents a small fraction – 0.004% – of the state's significant $143.9 billion pension fund
The ETF investment, revealed in a 13-F form submitted to the SEC, represents a small fraction – 0.004% – of the state's significant $143.9 billion pension fund.
Michigan's decision reflects a wider trend of institutional adoption of Bitcoin, following the lead of other states.
The State of Wisconsin Investment Board recently reported a $99 million Bitcoin investment through BlackRock's IBIT ETF.
Jersey City has also announced plans to add Bitcoin ETFs to its pension fund, with Mayor Steven Fulop expressing strong support for crypto investments.
