{"id":30743,"date":"2024-05-15T11:05:24","date_gmt":"2024-05-15T11:05:24","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/wisconsin-invests-100m-in-blackrock-bitcoin-etf\/"},"modified":"2024-05-15T11:05:24","modified_gmt":"2024-05-15T11:05:24","slug":"wisconsin-invests-100m-in-blackrock-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/wisconsin-invests-100m-in-blackrock-bitcoin-etf\/","title":{"rendered":"Wisconsin Invests $100M in BlackRock Bitcoin ETF"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>The state of Wisconsin said, in an unexpected move, that it had paid over $100 million for 94,562 shares of BlackRock\u2019s iShares Bitcoin Trust (IBIT) during the first quarter. An important milestone in institutional bitcoin investing has been reached with this transaction.<\/p>\n<p>As a result of its notification to the <a href=\"https:\/\/igaming.org\/crypto\/blackrock-introduces-new-ad-following-secs-green-light-on-bitcoin-etf\/\">Securities and Exchange Commission (SEC)<\/a>, Wisconsin is the first state to make its investment in Bitcoin known to the general public. In addition to the IBIT transaction, the state investment board paid around $64 million for shares of Grayscale\u2019s Bitcoin Trust (GBTC). With this audacious step, established banking circles are beginning to welcome cryptocurrency more.<\/p>\n<p>Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, noted, <em>\u201cNormally you don\u2019t get these big fish institutions in the 13Fs for a year or so (when the ETF gets more liquidity) but as we\u2019ve seen these are no ordinary launches,\u201d<\/em> Bloomberg Intelligence senior ETF analyst Eric Balchunas wrote in a\u00a0post on X. <em>\u201cGood sign, expect more, as institutions tend to move in herds.\u201d<\/em><\/p>\n<p>The state\u2019s investment board, known as SWIB, boasts a rich history dating back to 1951. Currently managing over $156 billion in assets, SWIB oversees the Wisconsin Retirement System (WRS), the State Investment Fund (SIF), and other state trust funds. With such extensive management experience, their foray into Bitcoin signals a growing confidence in the cryptocurrency market.<\/p>\n<h2>Market Reaction<\/h2>\n<p>Following the announcement, Bitcoin experienced a modest 1% increase, trading at $61,957. However, the digital currency saw a slight dip of 1.7% over the past 24 hours, coinciding with new inflation data that exceeded expectations during U.S. morning hours. Despite this minor fluctuation, Wisconsin\u2019s bold investment move reflects a broader shift in the financial landscape towards embracing digital assets.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>175% Extra +<strong> $75 Risk Free Bet<\/strong>!<\/strong> <\/p>\n<p>New players only. 175% on 1st Deposit + $75 Risk Free Bet<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>As March 15 marked the deadline for institutional investment managers with assets exceeding $100 million to file quarterly holdings, the market eagerly awaits further disclosures. These filings offer insights into whether other major traditional financial institutions have followed Wisconsin\u2019s lead in investing in Bitcoin ETFs.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/wisconsin-invests-100m-in-blackrock-bitcoin-etf\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) The state of Wisconsin said, in an unexpected move, that it had paid over $100 million for 94,562 shares of BlackRock\u2019s iShares Bitcoin Trust (IBIT) during the first quarter. An important milestone in institutional bitcoin investing has been reached with this transaction. As a result of [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":30744,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30743"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=30743"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/30744"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=30743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=30743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=30743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}