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The Wisconsin State Investment Board closed all positions worth $350 million in Bitcoin Spot ETF holdings.
According to Mars Finance, the State of Wisconsin Investment Board (SWIB) fully closed its holdings of approximately 6 million shares of BlackRock's iShares Bitcoin Trust (IBIT) in the first quarter of 2025, with a market capitalization of about $350 million at that time. The agency had significantly increased its holdings in this ETF by the end of 2024, becoming one of the first state-level pension funds in the U.S. to invest in Bitcoin spot ETFs. This exit occurred against a backdrop of a roughly 12% fall in Bitcoin prices. At the same time, Abu Dhabi's sovereign wealth fund Mubadala increased its IBIT holdings to about $409 million in the same quarter, indicating a divergence in the allocation strategies of institutional investors towards Bitcoin ETFs. (CoinDesk)