The Wisconsin Investment Board (SWIB) has increased its investment in BlackRock’s iShares Bitcoin Trust (IBIT), according to a new filing with the U.S. Securities and Exchange Commission (SEC). Submit files Today, as first reported on X by MacroScope.
In a filing with the Securities and Exchange Commission today, the Wisconsin Investment Board reported owning 2,898,051 shares of iShares Bitcoin Trust as of June 30 (worth $98.9 million as of that date).
This is an increase from the 2,450,400 shares Wisconsin previously reported in May.
— MacroScope (@MacroScope17) August 14, 2024
As of June 30, the board owned 2,898,051 shares worth $98.9 million. This represents a significant increase of 447,651 shares from the 2,450,400 shares reported in May. Notably, the filing also revealed that the board no longer holds any stake in Grayscale Bitcoin Trust (GBTC), a change from May when it reported owning 1,013,000 shares.
Earlier this year in May, SWIB became the first government pension fund to buy a spot bitcoin ETF, marking another major milestone in integrating bitcoin into traditional investment portfolios. The board’s decision to increase its investment in IBIT highlights a growing preference for direct exposure to bitcoin through spot ETFs, reflecting broader institutional confidence in bitcoin’s long-term potential.
Despite the recent bearish price action in Bitcoin, money is still flowing into Bitcoin ETFs, with a total inflow of $243.06 million since July 24.
US Bitcoin Spot ETFs 👇 Inflows for 2 days in a row pic.twitter.com/8txUOkdT61
— HODL15Capital 🇺🇸 (@HODL15Capital) August 14, 2024