**Michigan Pension Fund Dips Toes in Bitcoin ETF Waters**

The State of Michigan Retirement System has made a notable move by investing in a spot Bitcoin exchange-traded fund (ETF) offered by ARK 21Shares. According to a June 30 filing with the U.S. Securities and Exchange Commission, the pension fund now holds 110,000 shares of the ARK 21Shares Bitcoin ETF, valued at approximately $6.6 million.

This marks Michigan as the third U.S. state to explore crypto investments through ETFs since their approval in January. Earlier, Wisconsin and Jersey City also ventured into Bitcoin ETFs, signaling a growing trend among state pension funds. Stay tuned for more updates on this developing story.