Wisconsin Increases Bitcoin ETF Holdings, Goes All-In on BlackRock

In Brief:

Wisconsin Investment Board (SWIB) now holds 6 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), valued at $335.9 million.

SWIB exited Grayscale Bitcoin ETF, focusing entirely on BlackRock’s IBIT for its Bitcoin exposure.

The State of Wisconsin Investment Board (SWIB) has doubled down on Bitcoin ETFs, increasing its holdings in BlackRock’s iShares Bitcoin Trust (IBIT). The latest SEC filing shows 6 million shares, now worth $335.9 million, marking a shift from Grayscale’s Bitcoin ETF to an exclusive position in IBIT.

SWIB, which manages pension funds and trusts for Wisconsin residents, initially invested $163 million across BlackRock and Grayscale Bitcoin ETFs last year. With institutional demand surging, SWIB’s latest move aligns with the growing trend of pension funds embracing crypto.

With Bitcoin ETFs fueling record inflows and BTC’s price nearing all-time highs, other states like Michigan are also entering regulated crypto investments, further legitimizing Bitcoin’s role in institutional portfolios.

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