According to industry magazine (Corporate Advisor), UK pension consultancy Cartwright is urging institutional investors to allocate assets to Bitcoin (BTC) and has successfully guided the country's first pension fund to invest in Bitcoin.
Glenn Cameron, the Digital Asset Director of Cartwright, revealed to (Corporate Advisor) that a fund invested 3% of its £50 million (approximately $65 million) in Bitcoin last month. This decision was made after extensive negotiations with the planned trustees, taking into full consideration factors such as ESG (Environmental, Social, and Governance), investment cases, and security.
What is particularly notable about this investment is that the pension fund is actually investing directly in cryptocurrency rather than through indirect investments such as ETFs. According to reports, the private keys of this investment are held by five independent institutions.
It is also worth noting the relative scale of the investment. For example, Wisconsin's pension fund became the first state-level pension plan in the U.S. to invest in Bitcoin through a spot ETF a few months ago, but that investment only accounted for about 0.1% of the plan's assets. In contrast, this UK pension fund has allocated 3% of its assets to Bitcoin, which is a significantly larger proportion.
Additionally, Cartwright announced the launch of a Bitcoin employee benefit program that allows employers to make Bitcoin payments to wallets created for employees. Cartwright stated that five companies are currently interested in the product.
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