Wisconsin verkoopt alle Bitcoin-ETF-aandelen van Grayscale

The public pension fund of the US state of Wisconsin has completely sold all of its shares in the Grayscale Bitcoin Trust (GBTC), according to a new SEC document. In May, the State of Wisconsin Investment Board (SWIB) still held 1,013,000 GBTC shares, worth more than $63 million in the last quarter. But the state continues to believe in Bitcoin as an investment for pensions, because: At the same time, SWIB bought heavily into another BTC index fund.

The pension fund bought 447,651 new shares of BlackRock's iShares Bitcoin Trust, increasing its total holdings to 2,898,051 shares, worth $98.9 million at the end of the quarter, according to a report by MacroScope on X.

Since trading in Bitcoin ETFs began in January, more than 386,000 BTC worth about $22.3 billion have already flowed out of the original Grayscale product. The main reason: the relatively high cost of 1.5 percent.

With the sale of GBTC shares and the drop in the BTC price, the SWIB reduced its total BTC investment, counted in dollars, by about 39 percent at the end of the quarter.

Yet David Krause, professor of finance at Marquette University, recently explained why the pension fund's investment is likely just a first attempt. Much larger sums could soon be invested in Bitcoin ETFs.

In the future, if the pension fund decides to shift just one to two percent of its portfolio to Bitcoin ETFs, that would mean BTC index fund purchases of up to $3 billion.