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- Wisconsin strengthened its investment in Bitcoin ETFs by adding $321 million to the pension fund.
- The states of Michigan, Florida and Wisconsin have started allocating their funds into Bitcoin ETFs.
- The North Carolina Legislative Assembly submitted a bill to enable state treasury investments through Bitcoin ETFs.
The Wisconsin pension fund expanded its Bitcoin ETF investments up to $321 million. The State of Wisconsin Investment Board (SWIB) provided verification through its SEC filing on February 14. The pension fund initially invested $164 million of its assets into Bitcoin ETFs in May 2024. Institutional investors show an interest in investing in digital assets which led to this boost.
Wisconsin Shifts Funds to BlackRock’s IBIT
Wisconsin’s pension fund contains only BlackRock’s iShares Bitcoin Trust (IBIT) as its current investment in Bitcoin. The fund has sold its full holdings in Grayscale’s Bitcoin Trust (GBTC) entirely. The preference of institutional investors rests with ETFs that offer lower costs combined with better market liquidity. The increased preference for BlackRock’s Bitcoin ETF demonstrates pension funds’ trust in its regulated investment capabilities.
Various pension funds evaluate Bitcoin as an inflation-protecting tool. Digital assets function as a type of diversification tool for conventional investment portfolios. Institutional investors have greatly increased their interest in Bitcoin ETFs because of their formalized investment structure. Additional pension funds will adopt this investment strategy moving forward.
Other State Pension Funds Invest in Bitcoin ETFs
Other state pension funds have also disclosed Bitcoin ETF investments. The State of Michigan Retirement System invested $6.6 million into Bitcoin ETFs during July 2024. This minimal investment serves as a marker of increasing institutional support for Bitcoin.
Florida Chief Financial Officer, Jimmy Patronis recommended allocating state pension funds to Bitcoin exchange-traded funds in October 2024. Bitcoin holds strong potential to serve as a store of value according to him. More government-managed funds may consider similar investment strategies.
North Carolina Considers Bitcoin Investment Bill
North Carolina lawmakers introduced a bill to permit Bitcoin ETF investments. House Speaker Destin Hall presented this proposal in February 2025. The bill seeks to allow the state treasury to invest in digital assets through ETFs.
If passed, the bill will expand North Carolina’s investment portfolio. More states may consider similar legislative measures to include digital assets in public funds. The trend highlights Bitcoin’s growing acceptance as a mainstream financial asset.