The Wisconsin Investment Board (SWIB), the asset manager for the state's pension system, announced investments in Bitcoin spot ETFs from BlackRock and Grayscale Bitcoin Trust.

On May 14, SWIB filed a report with the US Securities and Exchange Commission (SEC) on the acquisition of assets of the BlackRock iShares Bitcoin Trust (IBIT) and Grayscale Bitcoin Trust (GBTC). Collectively, SWIB invested approximately $164 million in these funds, acquiring 2.4 million shares of IBIT and more than 1 million shares of GBTC.

As of December 2023, the Board managed more than $156 billion in pension assets, of which approximately 48% represented direct investments in public equity. In addition to financial investments in the IBIT and GBTC funds, SWIB owns shares of the Coinbase exchange, as well as MicroStrategy and CleanSpark.

Commenting on the event, Bloomberg ETF analyst Eric Balchunas statedthat the state institution's investment in the IBIT and GBTC funds demonstrates the state government's confidence in the future growth of the value of Bitcoin ETFs.

Earlier, Susquehanna, a major trading and technology company, filed a legal notice with the SEC that it had acquired more than $1.1 billion in shares of various Bitcoin spot ETFs.