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Jersey City pension fund amends regulatory documents to include $BTC ETF exposure
The move follows a similar decision by the Wisconsin Pension Fund, which allocated 2% of its $156 billion in assets to $BTC ETFs in the second quarter.Â
Jersey City Mayor Steven Fulop has announced plans to invest a portion of the cityâs pension fund in Bitcoin exchange-traded funds (ETFs), highlighting a significant step toward integrating crypto into municipal financial strategies.
In a social media post on July 25, Fulop shared that the Jersey City pension fund is updating its documentation with the US Securities and Exchange Commission (SEC) to include Bitcoin ETFs. Jersey City is the second largest city in the state of New Jersey.
The move follows a similar decision by the Wisconsin Pension Fund, which allocated 2% of its $156 billion in assets to Bitcoin ETFs in the second quarter. Experts believe other states will soon follow in its footsteps and diversify a portion of their portfolios with Bitcoin ETFs.
According to Fulop:
âThe question on whether Crypto/Bitcoin is here to stay is largely over and crypto/$BTC won.â
Fulop, who has been serving as the cityâs Mayor since 2013, highlighted that he has been a long-standing proponent of crypto and blockchain technology. He emphasized the immense potential of these innovations, saying:
âIâve been a long-time believer (through ups/downs) in crypto, but broadly, beyond crypto, I do believe blockchain is among the most important new technology innovations since the internet.â
#ETH_ETFs_Trading_Today #PensionFundsCrypto #Bitcoin_Coneference_2024 #stevenfulop
#BinanceTurns7
Jersey City pension fund amends regulatory documents to include $BTC ETF exposure
The move follows a similar decision by the Wisconsin Pension Fund, which allocated 2% of its $156 billion in assets to $BTC ETFs in the second quarter.Â
Jersey City Mayor Steven Fulop has announced plans to invest a portion of the cityâs pension fund in Bitcoin exchange-traded funds (ETFs), highlighting a significant step toward integrating crypto into municipal financial strategies.
In a social media post on July 25, Fulop shared that the Jersey City pension fund is updating its documentation with the US Securities and Exchange Commission (SEC) to include Bitcoin ETFs. Jersey City is the second largest city in the state of New Jersey.
The move follows a similar decision by the Wisconsin Pension Fund, which allocated 2% of its $156 billion in assets to Bitcoin ETFs in the second quarter. Experts believe other states will soon follow in its footsteps and diversify a portion of their portfolios with Bitcoin ETFs.
According to Fulop:
âThe question on whether Crypto/Bitcoin is here to stay is largely over and crypto/$BTC won.â
Fulop, who has been serving as the cityâs Mayor since 2013, highlighted that he has been a long-standing proponent of crypto and blockchain technology. He emphasized the immense potential of these innovations, saying:
âIâve been a long-time believer (through ups/downs) in crypto, but broadly, beyond crypto, I do believe blockchain is among the most important new technology innovations since the internet.â
#ETH_ETFs_Trading_Today #PensionFundsCrypto #Bitcoin_Coneference_2024 #stevenfulop
#BinanceTurns7
The State of Michigan investing $6 million in Bitcoin for its pension fund.
Are you curious about the latest trends in the financial world? The State of Michigan recently made headlines by investing $6 million in Bitcoin for its pension fund. This move is part of a growing trend of governments and institutions embracing cryptocurrency.
Michigan's investment in Bitcoin ETF products shows a forward-thinking approach to diversifying its assets. While $6 million may seem like a small percentage compared to the total assets of the pension fund, it represents a significant step towards embracing the future of finance.
It's exciting to see more states, like Wisconsin and Jersey, following suit and investing in Bitcoin. This growing interest in cryptocurrency reflects a broader trend of acceptance and adoption in the financial world.
As we witness the evolution of traditional finance into the digital age, it's clear that Bitcoin is here to stay. The potential for growth and innovation in the cryptocurrency space is limitless, and it's encouraging to see institutions like the State of Michigan recognizing and embracing this opportunity.
So, what are your thoughts on Michigan's investment in Bitcoin? Do you think more states should consider diversifying their portfolios with cryptocurrency? Share your thoughts in the comments below and let's discuss the future of finance together!
And remember, if you found this information valuable, feel free to show your appreciation with a tip. Your support is always appreciated! đ #michigan #retirement #PensionFundsCrypto
Michigan's investment in Bitcoin ETF products shows a forward-thinking approach to diversifying its assets. While $6 million may seem like a small percentage compared to the total assets of the pension fund, it represents a significant step towards embracing the future of finance.
It's exciting to see more states, like Wisconsin and Jersey, following suit and investing in Bitcoin. This growing interest in cryptocurrency reflects a broader trend of acceptance and adoption in the financial world.
As we witness the evolution of traditional finance into the digital age, it's clear that Bitcoin is here to stay. The potential for growth and innovation in the cryptocurrency space is limitless, and it's encouraging to see institutions like the State of Michigan recognizing and embracing this opportunity.
So, what are your thoughts on Michigan's investment in Bitcoin? Do you think more states should consider diversifying their portfolios with cryptocurrency? Share your thoughts in the comments below and let's discuss the future of finance together!
And remember, if you found this information valuable, feel free to show your appreciation with a tip. Your support is always appreciated! đ #michigan #retirement #PensionFundsCrypto
Pension funds in various countries are investing more and more in Bitcoin
Starting in 2019, pension funds have started investing in cryptocurrencies. Which countries allow investing in bitcoins and cryptocurrencies and in what ways
The launch of spot Bitcoin-ETF has led to the popularization of cryptocurrencies not only by financial institutions, but also by traditional pension funds. According to data for 2024 alone, such funds have invested hundreds of millions of dollars one way or another in the crypto market.
Pension funds South Korea
South Korea's National Pension Service, the third-largest pension fund management asset in the world, bought $33.7 million worth of MicroStrategy shares in the second quarter of 2024, according to TheBlock.
A filing with the SEC showed that the fund bought 24,000 shares of Microstrategy stock in the second quarter. The South Korean fund also has 229,000 shares of Coinbase, the largest US exchange, on its balance sheet worth $51 million.
Norway
The state retirement fund of Norway invests, though not directly, in cryptocurrencies, and also invests in crypto projects by buying shares of MicroStrategy, MARA (formerly Marathon Digital), Coinbase and Block Inc, which hold physical bitcoin on their balance sheets.
Analysts estimate that the Norwegian fund indirectly owns more than 2.44k BTC. And the increase in the proportion of shares purchased has led to the fund's balance sheet growing by 938 BTC since the beginning of 2024, Vetle Lunda, principal analyst at K33 Research, shared his observations.
USA, Japan and Australia
Australian pension funds are among the first to invest in cryptocurrency. Coindesk reports that since 2019, Australia's self-managed pension funds have more than tripled their investments in the crypto market to $664 million in 2023.
Pension funds in the U.S. and Japan have also been active in the crypto market. Some are buying exchange-traded products. And others are negotiating and exploring options to buy crypto assets or related exchange-traded products.
For example, the Michigan State Retirement Fund invested about $7.3 million in Ark Invest's bitcoin ETF in late June, according to Bloomberg Intelligence analyst Eric Balchunas, who specializes in exchange-traded funds.
Steven Fulop, the mayor of Jersey City, which is in the state of New Jersey, said in late July that the city's pension fund would invest in the bitcoin-ETF. And the organization is in the process of getting all the necessary regulatory approvals, according to TheBlock.
Similar initiatives are under consideration in the Arizona Senate, which is studying a proposal to include bitcoin-ETFs in the investment portfolios of the state's pension funds, according to BitcoinMagazine.
Japan's state pension fund though doesn't invest in cryptocurrency companies. But it is considering such options as part of its portfolio diversification strategy, according to Bloomberg.
In March 2024, the fund began looking at low-liquidity assets that include bitcoin. The investment rationale is being analyzed as part of the development of innovative investment strategies. $BTC
#PensionFundsCrypto #BTCâ
The launch of spot Bitcoin-ETF has led to the popularization of cryptocurrencies not only by financial institutions, but also by traditional pension funds. According to data for 2024 alone, such funds have invested hundreds of millions of dollars one way or another in the crypto market.
Pension funds South Korea
South Korea's National Pension Service, the third-largest pension fund management asset in the world, bought $33.7 million worth of MicroStrategy shares in the second quarter of 2024, according to TheBlock.
A filing with the SEC showed that the fund bought 24,000 shares of Microstrategy stock in the second quarter. The South Korean fund also has 229,000 shares of Coinbase, the largest US exchange, on its balance sheet worth $51 million.
Norway
The state retirement fund of Norway invests, though not directly, in cryptocurrencies, and also invests in crypto projects by buying shares of MicroStrategy, MARA (formerly Marathon Digital), Coinbase and Block Inc, which hold physical bitcoin on their balance sheets.
Analysts estimate that the Norwegian fund indirectly owns more than 2.44k BTC. And the increase in the proportion of shares purchased has led to the fund's balance sheet growing by 938 BTC since the beginning of 2024, Vetle Lunda, principal analyst at K33 Research, shared his observations.
USA, Japan and Australia
Australian pension funds are among the first to invest in cryptocurrency. Coindesk reports that since 2019, Australia's self-managed pension funds have more than tripled their investments in the crypto market to $664 million in 2023.
Pension funds in the U.S. and Japan have also been active in the crypto market. Some are buying exchange-traded products. And others are negotiating and exploring options to buy crypto assets or related exchange-traded products.
For example, the Michigan State Retirement Fund invested about $7.3 million in Ark Invest's bitcoin ETF in late June, according to Bloomberg Intelligence analyst Eric Balchunas, who specializes in exchange-traded funds.
Steven Fulop, the mayor of Jersey City, which is in the state of New Jersey, said in late July that the city's pension fund would invest in the bitcoin-ETF. And the organization is in the process of getting all the necessary regulatory approvals, according to TheBlock.
Similar initiatives are under consideration in the Arizona Senate, which is studying a proposal to include bitcoin-ETFs in the investment portfolios of the state's pension funds, according to BitcoinMagazine.
Japan's state pension fund though doesn't invest in cryptocurrency companies. But it is considering such options as part of its portfolio diversification strategy, according to Bloomberg.
In March 2024, the fund began looking at low-liquidity assets that include bitcoin. The investment rationale is being analyzed as part of the development of innovative investment strategies. $BTC
#PensionFundsCrypto #BTCâ
đšđ„ Breaking News: Fidelity's $4.8 Trillion Reveal - Pension Funds Are Betting Big on Bitcoin! đ°đ
In a groundbreaking announcement, Fidelity, the behemoth asset manager with a staggering $4.8 trillion under management, has disclosed that pension funds are now actively diving into the world of Bitcoin and other cryptocurrencies! đđ
Whatâs Happening:
- Pension Pioneers: Major pension funds, traditionally known for their conservative investment strategies, are embracing Bitcoin, signaling a significant shift in institutional finance.
- Crypto Credibility Boost: This move by some of the most cautious investors in the market adds a massive layer of credibility to cryptocurrency investments.
- Fidelityâs Foresight: As a leader in investment management, Fidelityâs insight into this trend underscores the growing acceptance and maturation of cryptocurrencies as a key asset class.
Why Itâs a Game Changer:
- Market Maturity: The involvement of pension funds could lead to more stable investments and potentially less volatility in the crypto market.
- Mainstream Momentum: This could trigger a domino effect, prompting other institutional investors to consider cryptocurrencies as a viable component of diversified portfolios.
- Everyone Wants Bitcoin: With big names throwing their hats into the crypto ring, itâs clear that Bitcoin is no longer just a speculative play but a must-have asset.
#FidelityReveals #PensionFundsCrypto #BitcoinBoom #MbeyaconsciousComunity
đ Like | đŹ Comment | âȘïž Share
*What do you think this means for the future of cryptocurrency? Dive into the discussion below and letâs decode this exciting development together!* đ„đ
In a groundbreaking announcement, Fidelity, the behemoth asset manager with a staggering $4.8 trillion under management, has disclosed that pension funds are now actively diving into the world of Bitcoin and other cryptocurrencies! đđ
Whatâs Happening:
- Pension Pioneers: Major pension funds, traditionally known for their conservative investment strategies, are embracing Bitcoin, signaling a significant shift in institutional finance.
- Crypto Credibility Boost: This move by some of the most cautious investors in the market adds a massive layer of credibility to cryptocurrency investments.
- Fidelityâs Foresight: As a leader in investment management, Fidelityâs insight into this trend underscores the growing acceptance and maturation of cryptocurrencies as a key asset class.
Why Itâs a Game Changer:
- Market Maturity: The involvement of pension funds could lead to more stable investments and potentially less volatility in the crypto market.
- Mainstream Momentum: This could trigger a domino effect, prompting other institutional investors to consider cryptocurrencies as a viable component of diversified portfolios.
- Everyone Wants Bitcoin: With big names throwing their hats into the crypto ring, itâs clear that Bitcoin is no longer just a speculative play but a must-have asset.
#FidelityReveals #PensionFundsCrypto #BitcoinBoom #MbeyaconsciousComunity
đ Like | đŹ Comment | âȘïž Share
*What do you think this means for the future of cryptocurrency? Dive into the discussion below and letâs decode this exciting development together!* đ„đ
SOUTH KOREAâS NATIONAL PENSION SCHEME BUYS 245,000 MICROSTRATEGY (MSTR) STOCKS
The latest 13F filing reveals that South Koreaâs National Pension Scheme acquired 245,000 MicroStrategy (MSTR) stocks in Q2, valued at 46 billion won ($33.7 million).
$MSTR stock is up 92% YTD, with most gains in Q1.
MicroStrategy, the largest corporate Bitcoin holder, continues to attract institutional interest.
In related news, the U.S. SEC approved a leveraged MicroStrategy ETF, MSTX, offering 175% of MSTRâs daily return, signaling growing institutional confidence in Bitcoin exposure.
#SouthKoreaCrypto #MSTRstock #PensionFundsCrypto #LowestCPI2021 #MtGoxJulyRepayments
$MSTR stock is up 92% YTD, with most gains in Q1.
MicroStrategy, the largest corporate Bitcoin holder, continues to attract institutional interest.
In related news, the U.S. SEC approved a leveraged MicroStrategy ETF, MSTX, offering 175% of MSTRâs daily return, signaling growing institutional confidence in Bitcoin exposure.
#SouthKoreaCrypto #MSTRstock #PensionFundsCrypto #LowestCPI2021 #MtGoxJulyRepayments
