Amid the storm of tariffs and market volatility, Wisconsin quietly exited its $300 million Bitcoin ETF.


A new report submitted to the U.S. Securities and Exchange Commission (SEC) shows that the Wisconsin Investment Fund (#SWIB ) sold its entire stake worth over $300 million in BlackRock's Bitcoin ETF (IBIT) right in the first quarter of 2025, before the crypto market experienced a major shock due to U.S.-China trade tensions.


Notably, the report cutoff date is March 31 – just two days before the U.S. imposes comprehensive tariffs on April 2, also known as 'Liberation Day' in financial circles, when President Donald Trump's administration launched a new tariff strategy, profoundly affecting the global market.



Bitcoin ETF sold off just before the crisis – a sign of a risk-averse strategy?


According to a previous filing in February, SWIB owned over 6 million shares #IBIT , worth about $321.5 million. The liquidation occurred amid Trump's push for a 'domestic production' trade policy, with a series of tariffs:




1/2: Imposing a 25% tariff on goods from Canada and Mexico.




4/2: Imposing a 10% tariff on Chinese goods.




11/2: Increase steel tariffs to 25%, aluminum also to 25%.




4/3: The U.S. raises tariffs on China to 20%.




Peak: The U.S. raises tariffs on Chinese goods to 145%, China responds with a 125% tariff.




These moves caused Bitcoin to plummet below $75,000, while Ethereum hit a two-year low. Goldman Sachs experts warn that core inflation could exceed 3.8% this year – raising widespread concerns across the financial market, including crypto.



Early defensive strategies – A lesson for crypto investors?


Wisconsin's sell-off move before 'Liberation Day' can be seen as a strategic step, as crypto was heavily impacted by the wave of risk aversion. Exiting before Bitcoin prices plummeted demonstrates the agility and thorough defense of a large institutional investor.


By mid-May, after a series of tensions, the U.S. and China began temporarily reducing tariffs, bringing U.S. tariffs down to 30% and China's to 10%. President $TRUMP also temporarily suspended most other retaliatory tax policies.



Contact with Binance users and the crypto market


SWIB's sell-off indicates that macroeconomic instability, particularly trade and tariff policies, can profoundly impact the crypto market, especially derivative assets like ETFs.

Binance users need to pay attention to global political-economic factors, especially when holding products like Bitcoin ETFs or altcoins highly sensitive to institutional cash flows.


In the current context, understanding macroeconomic developments and having a reasonable capital preservation strategy is key to overcoming similar shocks in the future.



Risk warning:


The crypto market is highly volatile and significantly influenced by macroeconomic policy, especially in the context of geopolitical tensions. Investment decisions should be carefully considered and not solely based on short-term trends. Users should clearly define their risk appetite and invest responsibly. #anhbacong