Key Takeaways
- The Wisconsin Investment Board has increased its investment in BlackRock’s iShares Bitcoin Trust to 6,060,351 shares, worth approximately $321.5 million.
- Additionally, the Wisconsin board has expanded its portfolio to include investments in crypto-related firms such as Coinbase and Marathon Digital.
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The State of Wisconsin Investment Board (SWIB) has expanded its investment in BlackRock’s iShares Bitcoin Trust (IBIT), increasing its shares by over 3 million to reach a total of 6 million shares, valued at more than $321 million as of December 31, 2024, according to a recent SEC filing.
This increase signifies a notable rise from the approximately 2.8 million shares held by the state pension fund at the end of September 2024. Earlier, during the second quarter of 2024, the board had divested from its investment in 1,013,000 shares of the Grayscale Bitcoin Trust (GBTC) before increasing its stake in IBIT.
IBIT has grown to be the fastest-growing spot Bitcoin fund, attracting around $41 billion in net inflows since its inception. As of February 14, the fund’s assets under management reached $56 billion.
The Wisconsin board has diversified its cryptocurrency investments beyond IBIT, holding positions in companies like Coinbase, MARA Holdings, Robinhood, and Block Inc.
Notably, earlier this week, Goldman Sachs reported its holdings exceeding $1.5 billion in U.S. spot Bitcoin exchange-traded funds (ETFs), which includes approximately $1.2 billion in IBIT and $288 million in Fidelity’s Bitcoin fund (FBTC).
