The State of Wisconsin Investment Board (SWIB) has significantly increased its investment in Bitcoin, now holding nearly $99 million worth of BlackRock’s iShares Bitcoin Trust (IBIT) ETF.
This marks a notable rise from the 2.5 million shares previously reported at the end of March, while the board has sold off its 1 million shares of Grayscale’s GBTC.
SWIB, tasked with managing Wisconsin’s state funds, has been expanding its exposure to digital assets. This trend aligns with broader state-level interest in Bitcoin investments.
For example, the State of Michigan Retirement System recently acquired 110,000 shares in the ARK 21Shares Bitcoin ETF (ARKB), valued at approximately $6.6 million.
Meanwhile, the Bitcoin ETF market has seen significant fluctuations. From August 12 to August 13, U.S. Bitcoin ETFs experienced nearly $67 million in inflows.
Notably, BlackRock’s IBIT ETF saw its inflows double during this period, while Grayscale’s GBTC faced growing outflows. Other Bitcoin ETFs like Bitwise’s BITB and ARK 21Shares’ ARKB also recorded mixed results, with ARKB achieving a positive net inflow despite BITB experiencing net outflows.
Commerzbank, one of Germany’s largest financial institutions, is making a significant move into cryptocurrency by offering Bitcoin and Ethereum trading services to its corporate clients.
For the first time in 4 years, Fed cut the rates for the first time in 4 years, which lead to a notable surge in cryptocurrency prices.
Donald Trump, the Republican presidential nominee, made headlines by becoming the first former U.S. president to make a Bitcoin transaction.
Under President Nayib Bukele, El Salvador remains committed to its daily Bitcoin acquisition strategy, currently holding assets worth approximately $354.6 million.