Wisconsin Becomes First State to Disclose Bitcoin Investment

The U.S. state of Wisconsin has become the first government entity to disclose an investment in Bitcoin, having purchased 94,562 shares of BlackRock’s iShares Bitcoin Trust (IBIT), worth nearly $100 million, in the first quarter of the year.

The State of Wisconsin Investment Board (SWIB) revealed its Bitcoin exposure in a recent filing with the U.S. Securities and Exchange Commission (SEC).

SWIB, which was founded in 1951, manages over $156 billion in assets for the Wisconsin Retirement System, State Investment Fund, and other state trust funds, also revealed it purchased shares of Grayscale’s GBTC worth around $64 million.

The move sees the state of Wisconsin join several Wall Street giants, including JPMorgan Chase and Wells Fargo, in revealing BTC exposure through investment in spot Bitcoin exchange-traded funds, according to 13F filings.

JPMorgan revealed an investment of $731,246 in BlackRock’s IBIT ETF, Bitwise’s BITB, Fidelity’s FBTC, and Grayscale’s GBTC, while Wells Fargo disclosed $141,817 in GBTC holdings. BNP Paribas and BNY Mellon have also made similar disclosures.