In a massive vote of confidence for digital assets, the Wisconsin Investment Board has doubled down on its Bitcoin bet, ramping up its Bitcoin ETF holdings to $321 million by the end of 2024. The $156 billion fund’s bold move signals a dramatic shift in institutional investing, with the pension giant now holding over 6 million shares of BlackRock’s iShares Bitcoin Trust (IBIT).
Gone are the days of cautious toe-dipping into crypto waters. Wisconsin’s fund managers ditched their Grayscale Bitcoin Trust (GBTC) shares entirely, going all-in on IBIT. It’s a far cry from their May 2024 position when they held a modest $100 million in IBIT and $64 million in GBTC. Talk about playing favorites.
The timing couldn’t be better for BlackRock’s IBIT, which has become the cool kid on the Bitcoin ETF block. With $41 billion in net inflows since launch and total assets hitting $56 billion by February 2025, IBIT is crushing it. Wisconsin’s chunky investment certainly helps those numbers look pretty. The fund’s professional managers handle all aspects of Bitcoin custody and security, eliminating the need for complex digital wallet management.
The market’s loving it too. Bitcoin’s been on a tear, sitting pretty at $97,250 in February 2025 – a whopping 70% jump since May 2024. The strategy aims to provide a robust hedge against inflation while maximizing returns. This strategic move follows a growing trend among pension funds to embrace cryptocurrency investments. Who said pension funds can’t party? The whole thing’s documented in Wisconsin’s SEC 13F filing, making it official and turning heads across Wall Street.
This isn’t just about one state’s pension fund getting crypto-curious. It’s a wake-up call for traditional finance. Other pension funds are already following Wisconsin’s lead, and hedge funds are piling in like it’s free money day. Even sovereign wealth funds are eyeing the Bitcoin ETF scene with newfound interest.
The message is clear: Bitcoin ETFs aren’t just some wild experiment anymore. They’re becoming a serious part of institutional portfolios. And Wisconsin? They’re just the tip of the iceberg in what’s shaping up to be a major shift in how big money thinks about digital assets.
