We have encountered very different developments in the cryptocurrency industry since #Bitcoin ETFs were approved. Investments in Bitcoin ETFs are now on the agenda. In this context, a recent development came from a state of the USA. It is stated that the move can be an example for other states. Let's look at the development.

Bitcoin Investment from Wisconsin State

The state of Wisconsin, in the heart of the USA, has left a significant mark in the cryptocurrency world with a recent move. In its application to the Securities and Exchange Commission, the state's Investment Board (SWIB) announced that giant names such as BlackRock and Grayscale are investing in spot Bitcoin ETFs.

This step shows that it has invested $163 million in Bitcoin, a small portion of its $156 billion retirement fund. As can be seen from the presented file, it is stated that crypto investments can be an opportunity for state retirement systems.

This move resonated not only within the borders of Wisconsin. A leading macroeconomic analyst suggested that other states could begin taking similar steps. Considering that BTC investments are easily accessible through regulatory-approved spot ETFs, these speculations make sense. So much so that New Hampshire House of Representatives member Keith Ammon took to the stage to extol the benefits of Bitcoin investments and stated that he thought New Hampshire was worth taking a similar step.

Bitcoin Investments Will Have Effects

However, it is necessary to think about the effects of such an investment. Ammon's comments on dollar devaluation and the highlighting of Wisconsin's move in industry publications underscore the seriousness of this issue. Commenting on the devaluation of the dollar on May 16, Ammon said New Hampshire owed $1.25 billion to the state pension system and asked how they could get out of this black hole.

On the other hand, we see that large banks tend to make similar investments. Investments in spot Bitcoin ETFs by giant names such as JPMorgan Chase and Wells Fargo show that there is wider acceptance in this area.

However, these moves may have knock-on effects. Wisconsin's move could impact not only other states but also the public and private investment sectors. Crypto industry observers note that such investments could lead to chain reactions. The fact that large hedge funds such as Millennium Management have started to take similar steps shows how seriously this issue is taken.