State of Wisconsin Investment Board (SWIB) (the first State Pension) Buys spot Bitcoin ETF!!!

The SWIB reported that it managed more than $156 billion in assets as of December 2023, with roughly 48% going into public equity investments. Other investments included shares of stock in Coinbase, MicroStrategy and Cleanspark.

The SEC filing followed similar reports from major banks, including Wells Fargo and JPMorgan Chase, who disclosed less than $1 million combined in spot BTC ETFs. Susquehanna International Group reported it purchased more than $1 billion worth of shares of the spot crypto ETFs in the first quarter of 2024. The investments were comprised of shares of GBTC, IBIT, Fidelity Wise Origin Bitcoin Fund (FBTC), ProShares Bitcoin Strategy ETF (BITO) and Bitwise Bitcoin ETF.

“Good sign, expect more, as institutions tend to move in herds.” said Bloomberg ETF analyst Eric Balchunas in a May 14 X post.