The State of Michigan pension fund recently reported acquiring over $10 million in spot Ethereum exchange-traded funds (ETFs) in a 13F filing. The filing revealed holdings in the Grayscale Ethereum Trust (ETHE) and Ethereum Mini Trust ETF (ETH), with 460,000 shares of ETHE valued at $10 million and 460,000 shares of ETH worth approximately $1.1 million. This makes Michigan the first state pension fund to disclose an ETH ETF holding, surpassing its spot Bitcoin ETF position of $7 million. Bloomberg's senior ETF analyst, Eric Balchunas, noted the significance of Michigan's investment in Ethereum, considering the recent struggles of ETH compared to BTC. Other US states like Wisconsin and Florida have also disclosed their spot ETF holdings following the SEC's approval of BTC ETFs earlier this year. Read more AI-generated news on: https://app.chaingpt.org/news

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