Wisconsin's State Investment Board Divests $321M from BlackRock's Bitcoin ETF Shares

The State of Wisconsin Investment Board (SWIB) has sold its shares in BlackRock’s Bitcoin exchange-traded fund (ETF) that were valued at over $321 million. Previously one of the early buyers of spot Bitcoin ETFs, the reasons for SWIB's decision remain unclear.

Despite the divestment from BlackRock’s iShares Bitcoin Trust (IBIT) shares, SWIB continues to hold investments in other crypto-related firms, including $18.8 million in Coinbase shares, over $1 million in Marathon shares, and $14.2 million in Robinhood stock.

While SWIB has offloaded its IBIT shares, other financial institutions, such as Goldman Sachs, continue to accumulate IBIT shares, reinforcing its prominence in the spot Bitcoin ETF market.