Pension funds also allocate Bitcoin, Bitcoin is not what it used to be
On July 26, it was disclosed that the Michigan Pension Fund in the United States bought $6.6 million of ARKB Bitcoin spot ETF in the second quarter.
On July 26, it was reported that Steven Fulop, the mayor of Jersey City, New Jersey, said that the city's municipal pension fund will soon invest in Bitcoin through an ETF. This move follows a similar decision made by the Wisconsin Pension Fund earlier this year.
Fulop said the investment is expected to be completed "before the end of the summer." While Fulop did not specify what percentage of the pension fund's assets would be allocated to the Bitcoin ETF, he said it would be "similar" to the 2% allocation of the Wisconsin Pension Fund.
Fulop did not disclose which Bitcoin ETF Jersey City is considering for investment.
Jersey City is the second largest city in New Jersey, USA (after Newark), located in northeastern New Jersey.
