Wisconsin Investment Board Increases Bitcoin Holdings Significantly
The State of Wisconsin Investment Board (SWIB) has made a noteworthy decision to enhance its investment in bitcoin (BTC) during the last quarter of the year. According to a recent 13F filing, the SWIB revealed that it now holds just over 6 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) as of December 31. This marks a substantial increase from approximately 2.9 million shares just three months earlier.
The value of this position stood at around $321 million at the end of the year and has since appreciated, with its current worth estimated at about $588 million based on bitcoin’s recent price hovering around $98,000.
In a historic move, the SWIB became the first investment board to report a bitcoin ETF purchase in 2024, initiating its investment with 94,562 shares of IBIT. Additionally, the board had also acquired shares of Grayscale’s Bitcoin Trust (GBTC), although it later divested from those holdings. Following suit, the State of Michigan Retirement System has also disclosed ownership of bitcoin ETFs, including the ARK 21Shares Bitcoin ETF (ARKB) and two of Grayscale’s bitcoin products.
Established in 1951, the SWIB manages over $156 billion in assets, which includes funds from the Wisconsin Retirement System (WRS) and the State Investment Fund (SIF). The board is responsible for managing investments on behalf of state employees and other trust funds, making its recent moves in the cryptocurrency space particularly significant.
Today is a critical deadline for institutional investors who manage at least $100 million in assets, as they are required to report their quarterly holdings to the Securities and Exchange Commission (SEC). The market is closely watching these filings to determine if major players in traditional finance have been increasing their exposure to bitcoin ETFs since their introduction last year.
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