đ Crypto News Flash! đ
The State of Michigan Retirement System has invested $6.6 million in ARK 21Sharesâ ARKB spot Bitcoin ETF, a small but significant 0.004% of its $143.9 billion pension fund. This move mirrors Wisconsin's recent $99 million Bitcoin investment via BlackRockâs IBIT ETF.
đ Institutional Adoption:
- Michigan and Wisconsin lead the charge in state pension funds embracing Bitcoin.
- Jersey City plans to follow suit, with Mayor Steven Fulop backing crypto investments.
đ Market Trends:
- Bitcoin Spot ETFs have seen a $75 million influx in just two days.
- Talks of the U.S. adding Bitcoin to its strategic reserves are gaining traction.
What do you think about state pension funds investing in Bitcoin? Share your thoughts in the comments! đŹ