Michigan State Pension Fund Reveals Ethereum ETF Holdings Worth Over $10 Million

The State Retirement System of Michigan has disclosed a new stake in Grayscale’s Ethereum exchange-traded fund, becoming the first pension fund to do so since the ETH-based financial instrument began trading in July.

The Michigan pension agency disclosed in a 13F filing that it owned 460,000 shares of Grayscale Ethereum Trust (ticker: ETHE), valued at about $10 million at the end of the third quarter, making it one of the top five holders of the fund, according to VanEck’s Matthew Sigel. It also disclosed holdings of 460,000 shares of Grayscale Ethereum Mini Trust ETF (ETH), valued at about $1.1 million.

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