According to reports from (Corporate Advisor), the UK pension consulting firm Cartwright is promoting institutional investors to allocate assets to Bitcoin, and last month successfully guided a retirement fund to allocate to Bitcoin, making it the first retirement fund in the UK to invest in Bitcoin.
Cartwright stated that this 'unnamed UK retirement fund' allocated 3% of its £50 million assets to Bitcoin last month, equivalent to £1.5 million or $1.95 million.
Glenn Cameron, the head of digital assets at Cartwright, pointed out that this 'extremely forward-looking' decision was made after extensive discussions between the trustees and the Cartwright team, carefully considering factors such as ESG (Environmental, Social, and Governance), security, and investment value.
The company believes that incorporating Bitcoin into retirement investment portfolios is a bold move that reflects the foresight of the trustees, and hopes this initiative will encourage UK institutional investors to catch up with their global counterparts.
Unlike other pension funds, this UK fund is directly purchasing Bitcoin rather than investing indirectly through ETFs or concept stocks. To ensure asset security, the private keys have been entrusted to five independent institutions for safekeeping.
In addition, the allocation ratio of this UK retirement fund to Bitcoin is also noteworthy. For example, the Wisconsin Investment Board in the United States disclosed holding nearly $100 million in a Bitcoin spot ETF months ago, which attracted considerable attention, but the holdings only accounted for 0.1% of its total investment portfolio; in contrast, this fund invested 3% in purchasing Bitcoin.
At the same time, Cartwright also announced the launch of a 'Bitcoin Employee Benefits Program', allowing employers to pay employee salaries in Bitcoin. Cartwright stated that five companies have already expressed interest in the program.
"No ETFs, directly buying spot! The UK sees the first 'retirement fund investing in Bitcoin'" This article was first published on (Blockguy).
