The State of Wisconsin Investment Board (SWIB) has increased its investment in BlackRock’s iShares Bitcoin Trust (IBIT), according to a new SEC filing. submit today, as first reported on X by MacroScope.
In an SEC filing today, the State of Wisconsin Investment Board reported that it owned 2,898,051 shares of the iShares Bitcoin Trust as of June 30 (valued at $98.9 million as of that date).
This is up from the 2,450,400 shares Wisconsin reported earlier in May.…
— MacroScope (@MacroScope17) August 14, 2024
As of June 30, the board owns 2,898,051 shares, worth $98.9 million. This is a substantial increase of 447,651 shares from the 2,450,400 shares reported in May. Notably, the filing also revealed that the board no longer has a position in the 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 state pension fund to purchase spot Bitcoin ETFs, marking another milestone in the integration of Bitcoin into traditional investment portfolios. The board’s decision to increase its investment in IBIT highlights a growing preference for direct Bitcoin exposure via spot ETFs, reflecting broader institutional confidence in Bitcoin’s long-term potential.
Despite the recent drop in Bitcoin’s price, money continues to flow into spot Bitcoin ETFs, with total inflows of $243.06 million since July 24.
US 🇺🇸 Bitcoin Spot ETFs 👇 2 Consecutive Days of Inflows photo.twitter.com/8txUOkdT61
— HODL15Capital 🇺🇸 (@HODL15Capital) August 14, 2024