๐ฆ๐๐ฎ๐๐ฒ ๐ผ๐ณ ๐ช๐ถ๐๐ฐ๐ผ๐ป๐๐ถ๐ป ๐ฆ๐ฒ๐น๐น๐ ๐ผ๐๐ฒ๐ฟ $๐ฏ๐ฎ๐ญ๐ ๐ถ๐ป ๐๐น๐ฎ๐ฐ๐ธ๐ฅ๐ผ๐ฐ๐ธโ๐ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐๐ง๐
๐ป Wisconsin Dumps Big BTC Investment
The State of Wisconsin Investment Board has sold its entire stake of $321 million in BlackRock's Bitcoin ETF (IBIT), as shown in a new SEC filing for Q1 2025.
โก๏ธ This means they no longer own shares of the largest spot Bitcoin ETF, even though IBIT has been pulling in billions recently.
๐ IBIT Still Leading the Market
Despite Wisconsinโs exit, BlackRock's IBIT continues to grow:
20 straight days of net inflows
Over $5 billion added recently
Total assets under management: $60+ billion
Bloomberg analyst Eric Balchunas said IBIT is attracting much more investment than competitors, likely due to hedge fund strategies and Bitcoinโs recent rally.
๐ช Wisconsin Still Has Crypto Exposure
While they sold IBIT, Wisconsin hasn't fully left the crypto space. They still hold about $19 million worth of Coinbase (COIN) stock.
They also previously sold all shares in Grayscaleโs Bitcoin ETF.
๐ Key Takeaway
Wisconsinโs exit from IBIT is notable but doesnโt signal a total crypto retreat.
The state seems to be shifting focus, keeping selective exposure like Coinbase shares.
Meanwhile, BlackRock's IBIT remains the market leader in Bitcoin ETFs.