The State of Wisconsin Investment Board (SWIB) seems to have decreased its stake in the Grayscale Bitcoin Trust exchange-traded fund while increasing its holdings in BlackRock’s iShares Bitcoin ETF.
A recent filing with the U.S. Securities and Exchange Commission (SEC) shows that SWIB possesses 6,060,351 shares of BlackRock’s IBIT.
As the fund trades at $55.33 at the time of writing, SWIB’s current exposure to IBIT surpasses $335.3 million.
Previously, in a filing made in May, SWIB reported owning just 2,450,400 shares of IBIT. At the same time, the May filing revealed that the investment board held 1,013,000 shares of Grayscale’s BTC ETF (GBTC), collectively valued at around $57 million. In filings submitted this November and this week, SWIB did not report any GBTC holdings.
The State of Wisconsin Investment Board is a state agency responsible for managing investments for public retirement and trust funds. Its investment portfolio is diverse, encompassing cryptocurrency, Coinbase, Marathon Digital, Riot Platforms, Block, Cipher Mining, Cleanspark, Microstrategy, and various traditional financial instruments.
IBIT ranks as the largest Bitcoin ETF, boasting $56.38 billion in assets under management (AUM), according to data from Coinglass. Fidelity’s FBTC follows in second place with $20.19 billion in AUM, while GBTC holds third position with $19.28 billion.
The SEC approved the first spot market Bitcoin ETFs in January 2024, which led to billions of dollars in inflows into the leading digital asset by market capitalization. In July, the regulator also sanctioned Ethereum (ETH) ETFs for trading.
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