Wisconsin Investment Board Reveals $100 Million Bitcoin ETF Holdings

In a filing disclosed on Tuesday, the State of Wisconsin Investment Board revealed holdings of nearly $100 million in the iShares Bitcoin Trust, an ETF managed by BlackRock, by the end of the first quarter of 2024.

The Board owned 2,450,400 shares of the ETF valued at $99,167,688, along with 1,013,000 shares of Grayscale Bitcoin Trust (GBTC) worth approximately $63,687,310, according to the Securities and Exchange Commission filing.

Additionally, the Board’s portfolio included shares of other cryptocurrency firms like Coinbase, Marathon Digital, Riot Platforms, Block, Cipher Mining, Cleanspark, and MicroStrategy.

As a Wisconsin state agency managing investments for public retirement and other trust funds, the State of Wisconsin Investment Board has a history of crypto investments alongside traditional financial vehicles. BlackRock’s IBIT and Grayscale’s GBTC are the leading spot Bitcoin ETFs by market share, according to The Block’s Data Dashboard.

The Board’s interest in spot Bitcoin ETFs has drawn attention, with Bloomberg’s ETF analyst noting the quick uptake compared to expectations. Eric Balchunas commented on social media platform X, highlighting the significance of a state pension investing in IBIT during the first quarter.

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