Michigan Pension Fund Invests $6.98M in Bitcoin, $11M in Ethereum ETFs, Becomes Top 5 Holder

Nov 4, 2024, 04:19 PM

The State of Michigan's pension fund has made significant investments in cryptocurrency ETFs, revealing holdings of $6.98 million in Bitcoin ETFs and $11 million in Ethereum ETFs. This marks the first time a state pension fund has invested in Ethereum, with the fund now among the top five holders of ETH and ETHE. The disclosures, made through 13F filings to the SEC, indicate a growing interest in diversifying into digital assets beyond Bitcoin.