In the current scenario of cryptocurrency investments, the United States has stood out, especially after the recent wave of interest from institutional investors and North American states in Bitcoin ETFs. The most recent example of this trend is the state of Wisconsin, which made a significant investment in BlackRock’s iShares Bitcoin Trust, marking a new era for Bitcoin ETFs.
According to a 13F form filed with the U.S. Securities and Exchange Commission (SEC), the Wisconsin investment board purchased approximately $98.6 million worth of shares in the fund. This investment not only reinforces confidence in the cryptocurrency market but also solidifies BlackRock’s position in the sector, which has seen a considerable increase in trading flows and volume since regulatory approval by the SEC in January.
The interest of US states is not limited to Wisconsin alone. Keith Ammon, New Hampshire State Representative and Vice President of Commerce and Consumer Affairs, also recently proposed diversifying the state’s financial reserves through investments in Bitcoin ETFs. According to Ammon, if New Hampshire had allocated just 5% of its rainy day fund to Bitcoin since 2016, the current value would be close to half a billion dollars, indicating a 10,000% return on investment.
Furthermore, Manuel Nordeste, vice president of digital assets at Fidelity, highlighted the tendency of large pension funds and banks to allocate resources to spot Bitcoin ETFs. It reveals that 25% of pension fund managers already own digital assets, highlighting a notable change in the digital asset market.
Ammon suggests that an infusion of just 1% of pension assets under management, which amounts to approximately $5.5 billion, could not only surpass Bitcoin mining revenues, but also create a shortage of supply relative to demand, driving further the price of Bitcoin.
These developments reinforce the growing appeal of Bitcoin ETFs to institutional investors and states, with supportive regulations and growing interest setting the stage ripe for market expansion in the coming months.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/etf-bitcoin-da-blackrock-atrai-investimento-de-us-99-milhoes-do-estado-de-wisconsin/
