Jersey City Pension Fund to Allocate 2% to Bitcoin ETFs

Jul 25, 2024, 07:08 PM

Jersey City Mayor Steven Fulop has announced that the city's pension fund will allocate a portion of its assets to Bitcoin ETFs this summer. This move involves updating paperwork with the SEC and follows a similar allocation by the Wisconsin Pension Fund. The pension fund, which has $145 million in assets as of 2022, will make a 2% allocation to Bitcoin ETFs, amounting to approximately $4.35 million. Mayor Fulop expressed optimism that such allocations will become more common in the future.