The State of Wisconsin Investment Board allocates $163 million to Bitcoin ETFs. Meanwhile, Vanguard appoints former BlackRock manager Salim Ramji as CEO.
The State of Wisconsin Investment Board (SWIB) has revealed significant holdings in Bitcoin ETFs issued by Grayscale and BlackRock. In the new 13F report filed with the SEC on May 14, SWIB disclosed that it holds over 2.4 million shares of the BlackRock iShares Bitcoin Trust (IBIT) and more than 1 million shares of the Grayscale Bitcoin Trust (GBTC), for a total amount of approximately $163 million.
SWIB manages the assets of the Wisconsin Retirement System pension fund. Last December, the board managed over $156 billion in assets. The investments included stakes in companies such as Block, Coinbase, Marathon Digital, MicroStrategy, Riot Platforms, and Cleanspark.
In recent weeks, several banks and companies have disclosed investments in Bitcoin ETFs. For instance, investment firm Susquehanna International Group reported purchasing over $1 billion in shares of various Bitcoin ETFs in the first quarter of 2024.
Vanguard appoints former BlackRock manager as CEO
Vanguard, known for its anti-Bitcoin stance, has appointed Samil Ramji, a former BlackRock manager, as its new CEO. Ramji left BlackRock in January after leading the launch of the IBIT spot Bitcoin ETF.
According to some analysts, Ramji’s appointment could signal a change in direction for Vanguard, which has so far not allowed its clients to purchase Bitcoin ETFs.
Regarding this move, Bloomberg analyst Eric Balchunas stated:
In a statement, Ramji commented:
“I am very excited to get to work and partner with the outstanding leadership team of Vanguard to lead the company into the future.”
