The State of Wisconsin Investment Board (SWIB), responsible for managing the state's retirement funds, has divested its holdings in BlackRock's iShares Bitcoin Trust ETF (IBIT) in the first quarter, according to filings. SWIB reported zero IBIT positions in its 13F filing to the US Securities and Exchange Commission on May 15, selling off all 6,060,351 IBIT shares it previously held. The value of these shares amounts to approximately $355.6 million at current prices. SWIB had initially invested $164 million in Bitcoin ETFs in Q1 2024, making it one of the first state funds to offer Bitcoin exposure to US retirees. In contrast, Abu Dhabi's sovereign wealth fund Mubadala increased its IBIT holdings by acquiring 491,439 shares in Q1, bringing its total to 8,726,972 shares worth around $512 million. IBIT has seen significant net inflows, surpassing $45 billion, with a 20-day streak ending on May 13 with a neutral inflow. Read more AI-generated news on: https://app.chaingpt.org/news

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