US State of Wisconsin Sells $355 Million in BlackRock Bitcoin ETFs
- Wisconsin Investment Board Sells BlackRock Bitcoin ETFs
- Bitcoin ETFs accounted for 0,2% of SWIB's portfolio
- Mubadala expands IBIT position despite Wisconsin exit
The Wisconsin State Investment Board (SWIB), responsible for managing the US state's retirement funds, sold all of its shares in BlackRock's iShares Bitcoin Trust (IBIT) ETF during the first quarter of 2025.
The most important documents recent The filings with the SEC show that SWIB no longer holds any positions in spot Bitcoin ETFs. The liquidation covers 6.060.351 IBIT shares that had been reported in the previous quarter. At current market values, the holding represented approximately $355,6 million.
In early 2024, the fund was one of the first among US public agencies to offer exposure to Bitcoin, when it acquired around $164 million in ETFs shortly after the official launch of these products.
A few months later, SWIB reinforced its position by converting 1 million shares of Grayscale Bitcoin Trust (GBTC) to IBIT in the fourth quarter. At the time, the move demonstrated a strategy of greater alignment with more efficient and liquid management funds.
With over $166 billion under management at the end of 2024, Bitcoin ETFs represented around 0,2% of the state fund’s portfolio. A full exit could signal a reassessment of direct exposure to the cryptocurrency market at this time.
This movement of entry and exit of large institutional investors reinforces the role of Bitcoin ETFs as increasingly relevant instruments for those seeking regulated exposure to the cryptocurrency market in the United States.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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