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.
El Salvador has secured a $120 million disbursement from the IMF as part of its $1.4 billion loan agreement, but only after agreeing to reduce direct government involvement in Bitcoin operations.
Japanese investment firm Metaplanet is ramping up its Bitcoin strategy by raising $50 million through a private placement of zero-interest bonds.
Robert Kiyosaki, author of Rich Dad Poor Dad, is sounding a dire alarm over what he describes as the beginning of financial chaos in the U.S.—a scenario he believes will wipe out millions financially.
After a strong rebound from its January correction, Bitcoin surged over 50% to reach an all-time high of $111,880.