State of Wisconsin Investment Board Increased BlackRock Bitcoin ETF Holdings: SEC Filing

The State of Wisconsin Investment Board (SWIB) has increased its investment in BlackRock's iShares Bitcoin Trust (IBIT), according to a new SEC filing today, as first reported on X by MacroScope. 

In an SEC filing today, the State of Wisconsin Investment Board reported owning 2,898,051 shares of the iShares Bitcoin Trust as of June 30 (valued at $98.9 million as of that date).

This is an increase from the 2,450,400 shares that Wisconsin previously reported in May.…

— MacroScope (@MacroScope17) August 14, 2024

As of June 30, the board owns 2,898,051 shares, valued at $98.9 million. This marks a substantial increase of 447,651 shares from the 2,450,400 shares reported in May. Notably, the filing also revealed that the board no longer holds any position in the Grayscale Bitcoin Trust (GBTC), a change from May when it reported holding 1,013,000 shares. 

Earlier this year in May, SWIB became the first state pension to buy spot Bitcoin ETFs, signaling a another big milestone in the integration of Bitcoin into traditional investment portfolios. The board's decision to increase its investment in IBIT highlights a growing preference for direct Bitcoin exposure through spot ETFs, reflecting broader institutional confidence in Bitcoin’s long-term potential. 

Despite the recent downward price action in Bitcoin, money continues to pour into the spot Bitcoin ETFs, with a total combined inflow of $243.06 million since July 24.

U.S. 🇺🇸 Bitcoin Spot ETFs 👇 2 consecutive days of inflows pic.twitter.com/8txUOkdT61

— HODL15Capital 🇺🇸 (@HODL15Capital) August 14, 2024