{"id":40747,"date":"2024-11-04T17:46:06","date_gmt":"2024-11-04T17:46:06","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/state-of-michigan-pension-fund-discloses-10m-ethereum-etf-holdings\/"},"modified":"2024-11-04T17:46:06","modified_gmt":"2024-11-04T17:46:06","slug":"state-of-michigan-pension-fund-discloses-10m-ethereum-etf-holdings","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/state-of-michigan-pension-fund-discloses-10m-ethereum-etf-holdings\/","title":{"rendered":"State of Michigan pension fund discloses $10m Ethereum ETF holdings"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/1708614209753-9168f3aa-1a42-4888-a325-5dbfaa7d89ff-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/1708614209753-9168f3aa-1a42-4888-a325-5dbfaa7d89ff-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/1708614209753-9168f3aa-1a42-4888-a325-5dbfaa7d89ff-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/1708614209753-9168f3aa-1a42-4888-a325-5dbfaa7d89ff-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>State of Michigan pension fund holds over $11 million in spot Ethereum exchange-traded funds.<\/li>\n<li>The 13F filing the State of Michigan Retirement System about $10 million in Grayscale ETF ETHE and $1.1 million in Grayscal Ethereum Mini Trust ETF (ETH).<\/li>\n<\/ul>\n<p>The State of Michigan pension fund has disclosed in a <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/762152\/000076215224000013\/xslForm13F_X02\/InformationTable_09_30_24.xml\" target=\"_blank\" rel=\"noopener\">13F filing<\/a> that it acquired and holds over $10 million in spot Ethereum exchange-traded funds.<\/p>\n<p>In the latest 13F filing, details show that the State of Michigan Retirement System disclosed its holdings of the Grayscale Ethereum Trust (ETHE) and Ethereum Mini Trust ETF (ETH).<\/p>\n<p>Per the filing, the Michigan state pension holds 460,000 shares of ETHE worth about $10 million and 460,000 shares ETH (the mini trust ETF) worth roughly $1.1 million.<\/p>\n<p>VanEck head of digital assets Matthew Sigel shared the details below on X.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8 First State Pension Fund Buys <a href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&amp;ref_src=twsrc%5Etfw\">#ETH<\/a> ETF \ud83d\udea8<\/p>\n<p>State of Michigan Files 13F Discloses New ETH ETF Holdings; Becomes Top 5 Holder of <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> &amp; <a href=\"https:\/\/twitter.com\/search?q=%24ETHE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETHE<\/a> <a href=\"https:\/\/t.co\/3eYrCh3ldG\">pic.twitter.com\/3eYrCh3ldG<\/a><\/p>\n<p>\u2014 matthew sigel, recovering CFA (@matthew_sigel) <a href=\"https:\/\/twitter.com\/matthew_sigel\/status\/1853463874772643926?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p>\n<\/blockquote>\n<h2>State pension funds buying spot crypto ETFs<\/h2>\n<p>With these spot Ethereum ETF holdings, the State of Michigan pension fund has become the first such entity to disclose an ETH ETF holding.<\/p>\n<p>Notably, the State of Michigan Retirement System already disclosed its spot Bitcoin ETF holdings, revealing a $7 million position. Going by the latest 13F filing, the pension fund\u2019s ether ETFs position is bigger than its spot BTC ETF one.<\/p>\n<p>Commenting on this, Bloomberg senior ETF analyst Eric Balchunas said it is a \u201cbig win\u201d for Ethereum. In particular, it\u2019s because BTC price has seen massive price gains compared to ETH which has struggled a lot over the last several months.<\/p>\n<p>Balchunas wrote in a <a href=\"https:\/\/x.com\/EricBalchunas\/status\/1853472024833695805\" target=\"_blank\" rel=\"noopener\">post on X<\/a>:<\/p>\n<p>\u201cNot only did Michigan\u2019s pension buy Ether ETFs but they bought more then they did of bitcoin ETFs, $10m vs $7m, this despite btc being up a ton and ether in the gutter. Pretty big win for ether which could use one.\u201d<\/p>\n<p>Several US states have disclosed spot ETF holdings since SEC approved BTC ETFs in January this year. These include the <a href=\"https:\/\/coinjournal.net\/news\/state-of-wisconsin-investment-board-holds-nearly-100m-of-blackrocks-bitcoin-etf\/\">State of Wisconsin Investment Board<\/a> and Florida, whose chief financial officer revealed in an interview last week that the state\u2019s crypto holdings are around <a href=\"https:\/\/coinjournal.net\/news\/florida-holds-800-million-in-crypto-state-cfo-says\/\">$800 million<\/a>.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/state-of-michigan-pension-fund-discloses-10m-ethereum-etf-holdings\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) State of Michigan pension fund holds over $11 million in spot Ethereum exchange-traded funds. The 13F filing the State of Michigan Retirement System about $10 million in Grayscale ETF ETHE and $1.1 million in Grayscal Ethereum Mini Trust ETF (ETH). The [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":40748,"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":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/40747"}],"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\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=40747"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/40747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/40748"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=40747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=40747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=40747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}