New documents reveal that the state of Michigan has millions of dollars worth of investments in the ARK 21Shares Bitcoin (BTC) exchange-traded fund (ETF).
According to the new 13-F Filing The State of Michigan Retirement System, in cooperation with the U.S. Securities and Exchange Commission (SEC), has purchased 110,000 shares of the ARK 21Shares BTC ETF (ARKB) for nearly $6.6 million.
To tell Eric Balchunas, senior ETF analyst at Bloomberg
“When I checked, [it] Apparently a Michigan pension bought ARKB (for $7.4 million), which is a small percentage, but it’s a start. [are] now [the] “Third pensioner reports holding BTC ETF”
The ARK 21Shares BTC ETF was trading at $68.04 at press time, up 5.3% over the past 24 hours.
ARKB currently holds $3.241 billion, according to VettaFi, a data analytics platform that specializes in ETFs. Total assets – The 4th largest BTC ETF on the market.
The Michigan Retirement System is a statewide public pension plan for Michigan state employees, including public school employees. According to its most recent 13-F filing, the Michigan Retirement System manages assets of $19.42 billion.
In March, SEC filings revealed that the Wisconsin State Investment Board held shares in BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale’s Bitcoin Trust (GBTC) worth a combined $163 million.
At the time of writing, Bitcoin is trading at $68,208, up slightly over the past 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies and digital assets. Transfers and transactions are at your own risk and you are responsible for any losses incurred. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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