Surprise on Wall Street!
Wisconsin abandons its position in Bitcoin ETF, shaking confidence in the Crypto market
The State of Wisconsin Investment Board (SWIB), a pioneer among state pension funds for its investment in Bitcoin ETFs, has decided to completely close its position in the iShares #bitcoin Trust (#IBIT ) of #blackRock , according to a filing with the SEC on May 15, 2025.
The entity, which had previously accumulated over 6 million shares valued at approximately $340 million as of December 2024, justified its exit by citing concerns over the short-term volatility of Bitcoin and the need to rebalance its $166.4 billion portfolio of state assets.
This decision marks a drastic change after having doubled its exposure to #BTC in the last quarter of 2024, when it became the second-largest holder of IBIT globally.
