The U.S. Wisconsin state pension fund, which first announced its acquisition of a Bitcoin spot ETF in May, has further increased its holdings in the BlackRock fund while completely divesting from its Grayscale holdings.

The Wisconsin pension fund boosted its investment in the BlackRock spot Bitcoin ETF from 2.5 million units to 2.9 million units, bringing its total value in the BlackRock ETF to $100 million. In contrast, the fund has sold off its entire Grayscale ETF position, which was valued at nearly $50 million.

This move mirrors similar actions by other state funds. For instance, on July 26, Michigan's state fund, ARK Invest, revealed a $6.5 million investment in a Bitcoin spot ETF.

Bitcoin spot ETFs have attracted over $50 billion in net investments to date, with BlackRock's IBIT ETF leading the way, having received $20 million in investments.

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