Jersey City's US Pension Fund to Apply for SEC Approval to Invest in Bitcoin ETF

Building on the initiative to tokenize jerseys on VeChain for enhanced fan engagement, the Jersey City club is leveraging the VeChain blockchain to offer seamless interactions and rewards, marking the start of what is being called Experience 3.0 in fan engagement.

In addition to these advancements, the Jersey City pension fund is in the process of updating its paperwork with the SEC to allocate a portion of its assets to Bitcoin ETFs, similar to the 2% allocation made by the Wisconsin Pension Fund.

A CNF YouTube video also highlights the opening of the world’s largest Bitcoin conference in Nashville, coinciding with Jersey City’s pension fund finalizing its SEC paperwork for Bitcoin ETF investment, mirroring Wisconsin’s 2% allocation.

In response to these developments, Jersey City Mayor Steven Fulop, who typically doesn't comment on such topics, tweeted that the debate over the longevity of crypto and Bitcoin is essentially settled, with crypto emerging as a significant innovation.

He noted that this process is expected to be completed by the end of the summer, and similar allocations may become more common.

As a long-time supporter of cryptocurrency, Mayor Fulop views blockchain technology as one of the most transformative innovations since the internet.

As Jersey City's US Pension Fund seeks SEC approval for Bitcoin ETF investments, it could potentially attract investors.

Currently, Bitcoin (BTC) is trading at $67,272.56, reflecting a 4.88% increase in the past day and a 4.96% rise in the past week, according to CoinMarketCap data.

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