More States to Follow Wisconsin in Buying Bitcoin ETFs, Says Finance Professor
Wisconsin’s relatively small investment in Bitcoin ETFs could snowball into something larger by orders of magnitude, according to an ex-finance professor within the state.
During an interview with PBS, Marquette University professor emeritus David Krause said the $160 million currently invested by the state represents “just a toe in the water” compared to what’s likely coming.
“I think it’s just an entry point,” Krause argued. “They are testing to see the reaction of the public to whether or not there’s resistance to owning this, and they’re using it as a trial run.”
WE'RE JUST GETTING STARTED.
Marquette University professor emeritus David Krause describes the Wisconsin pension system's $100 million purchase into a Bitcoin ETF and why the small purchase matters. pic.twitter.com/scoDGb4mgO
— Trey Sellers ∞/21M (@ts_hodl) June 2, 2024
Throughout the past two months, the world’s largest investment firms disclosed their securities portfolios in mandatory 13F filings with the Securities and Exchange Commission (SEC). This gave Bitcoin fans a chance to see the first major US institutions who had bought Bitcoin through an ETF wrapper after Bitcoin spot ETFs first launched on national securities exchanges in January.
One such investor was the State of Wisconsin Investment Board (SWIB) – a top ten pension fund within the country that bought shares of both BlackRock and Grayscale’s Bitcoin products. The purchase came as a shock to even Bitcoin bulls, who expected a wait before pension fund allocations began, if at all.
As of March 31, SWIB’s Bitcoin ownership represented just 0.4% of its $37.4 billion total securities portfolio and just 0.1% of its $155 billion in total assets.
“It really is not gonna impact the portfolio substantially
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