Latest news with #StateofWisconsinInvestmentBoard
Yahoo
17-05-2025
- Business
- Yahoo
Wisconsin Pension Fund Sold IBIT Before Trade Clash
The State of Wisconsin Investment Board sold off its entire $321.5 million stake in BlackRock's iShares Bitcoin Trust (IBIT), according to a Thursday Securities and Exchange Commission filing, with the sale coming before international trade tensions escalated. The filing shows Wisconsin's reversal came months after initially embracing Bitcoin exposure. According to the 13F filing, SWIB liquidated over 6.1 million IBIT shares from its portfolio during 2025's first quarter, concluding the divestment by the end of March. The pension fund's withdrawal from cryptocurrency investment occurred just days before sweeping trade policy changes created market volatility, highlighting how large institutional investors may reconsider digital asset holdings when economic conditions appear uncertain. As one of the first state pension funds to invest in Bitcoin ETFs when they launched, SWIB's withdrawal raises questions about the long-term commitment of institutional investors to digital assets, especially when facing economic headwinds. After Wisconsin departed from the Bitcoin market, cryptocurrency valuations experienced pressure as international trade relations deteriorated. In early April, the new administration implemented broad tariffs affecting global relationships with close U.S. allies. The pension fund's exit proved well-timed as Bitcoin prices later declined amid growing trade disagreements. By March, U.S. tariffs on Chinese products reached 145%, while China countered with 125% fees on American imports. By mid-May, both nations began easing trade restrictions, with U.S. rates on Chinese goods dropping to 30% while Chinese duties on American products decreased to 10%. During this period of economic friction, Bitcoin prices dropped below $75,000, according to data from CoinMarketCap. Following the quarter's end, Bitcoin prices had mostly recovered, reaching a high of $105,747 over the past month as market stability returned and trade tensions diminished. Despite leaving direct Bitcoin investment, the pension fund maintained some cryptocurrency exposure. The filing reveals SWIB holds 127,528 shares of Strategy (MSTR), formerly known as MicroStrategy, valued at around $36.8 million, representing a smaller crypto allocation than their previous ETF | © Copyright 2025 All rights reserved
Zawya
17-02-2025
- Business
- Zawya
Fund managers boost exposure to bitcoin ETFs, quarterly US filings show
Asset managers, ranging from wealth management companies to hedge funds and pension funds, boosted allocations to U.S. exchange-traded funds tied to the price of bitcoin in the fourth quarter of 2024, as the price of the world's largest cryptocurrency soared 47%, according to recent regulatory filings. The State of Wisconsin Investment Board disclosed in its quarterly 13-F filings with the Securities and Exchange Commission that its bitcoin ETF holdings more than doubled in the final three months of last year, to 6 million shares of the iShares Bitcoin Trust ETF by December 31. The fund, which was the first fund of its kind to report investing in crypto following the debut of bitcoin ETFs, couldn't immediately be reached for comment. Other large investment funds also boosted their holdings in the ETFs, which launched in January 2024. Tudor Investment Corp, a systematic hedge fund manager, reported its holdings of the iShares ETF -- now the largest of the pack, with more than $55 billion in assets -- climbed to 8 million shares, from 4.4 million shares. The value of those holdings also soared, reflecting bitcoin's jump in value, hitting $426.9 million, up from $159.9 million at the end of September. Tudor didn't immediately respond to a request for comment. An Abu Dhabi sovereign wealth fund, Mubadala Investment Co, reported its first foray into bitcoin ETFs in the fourth quarter, taking a 8.2 million share stake in the iShares ETF that was worth $436.9 million. Hedge fund Hunting Hill Capital had no exposure to these ETFs as of the end of the third quarter, but by December 31 had re-emerged as a significant investor, with positions valued at about $131 million by the end of the year. "We've been actively trading within the broader crypto ETF complex, and the timing of the third-quarter filing may not have aligned with when we bought and sold various ETFs," said Adam Guren, founder and chief investment officer of the firm. The ranks of those adding to positions included financial advisory firms whose clients have been eager buyers of bitcoin ETFs. Cetera Advisors and NewEdge Advisers were among firms that boosted holdings in several of the ETFs, including products offered by Fidelity, ARK Investments and Invesco. Other investors were more selective, the filings showed. Cresset Asset Management boosted its exposure to ETFs carrying lower fees, said Jack Ablin, the firm's chief investment officer. "It's also possible right now to get attractive options pricing for collar strategies, allowing us to protect the downside while giving away less of the upside in exchange, on these bitcoin funds," Ablin said. The 13F filings are one of the few ways to get insight into how institutional investors are positioned at the end of every quarter. The positions may not reflect current holdings.
Yahoo
15-02-2025
- Business
- Yahoo
Fund managers boost exposure to bitcoin ETFs, quarterly US filings show
By Suzanne McGee (Reuters) - Asset managers, ranging from wealth management companies to hedge funds and pension funds, boosted allocations to U.S. exchange-traded funds tied to the price of bitcoin in the fourth quarter of 2024, as the price of the world's largest cryptocurrency soared 47%, according to recent regulatory filings. The State of Wisconsin Investment Board disclosed in its quarterly 13-F filings with the Securities and Exchange Commission that its bitcoin ETF holdings more than doubled in the final three months of last year, to 6 million shares of the iShares Bitcoin Trust ETF by December 31. The fund, which was the first fund of its kind to report investing in crypto following the debut of bitcoin ETFs, couldn't immediately be reached for comment. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Other large investment funds also boosted their holdings in the ETFs, which launched in January 2024. Tudor Investment Corp, a systematic hedge fund manager, reported its holdings of the iShares ETF -- now the largest of the pack, with more than $55 billion in assets -- climbed to 8 million shares, from 4.4 million shares. The value of those holdings also soared, reflecting bitcoin's jump in value, hitting $426.9 million, up from $159.9 million at the end of September. Tudor didn't immediately respond to a request for comment. An Abu Dhabi sovereign wealth fund, Mubadala Investment Co, reported its first foray into bitcoin ETFs in the fourth quarter, taking a 8.2 million share stake in the iShares ETF that was worth $436.9 million. Hedge fund Hunting Hill Capital had no exposure to these ETFs as of the end of the third quarter, but by December 31 had re-emerged as a significant investor, with positions valued at about $131 million by the end of the year. "We've been actively trading within the broader crypto ETF complex, and the timing of the third-quarter filing may not have aligned with when we bought and sold various ETFs," said Adam Guren, founder and chief investment officer of the firm. The ranks of those adding to positions included financial advisory firms whose clients have been eager buyers of bitcoin ETFs. Cetera Advisors and NewEdge Advisers were among firms that boosted holdings in several of the ETFs, including products offered by Fidelity, ARK Investments and Invesco. Other investors were more selective, the filings showed. Cresset Asset Management boosted its exposure to ETFs carrying lower fees, said Jack Ablin, the firm's chief investment officer. "It's also possible right now to get attractive options pricing for collar strategies, allowing us to protect the downside while giving away less of the upside in exchange, on these bitcoin funds," Ablin said. The 13F filings are one of the few ways to get insight into how institutional investors are positioned at the end of every quarter. The positions may not reflect current holdings.
Yahoo
15-02-2025
- Business
- Yahoo
Fund managers boost exposure to bitcoin ETFs, quarterly US filings show
By Suzanne McGee (Reuters) - Asset managers, ranging from wealth management companies to hedge funds and pension funds, boosted allocations to U.S. exchange-traded funds tied to the price of bitcoin in the fourth quarter of 2024, as the price of the world's largest cryptocurrency soared 47%, according to recent regulatory filings. The State of Wisconsin Investment Board disclosed in its quarterly 13-F filings with the Securities and Exchange Commission that its bitcoin ETF holdings more than doubled in the final three months of last year, to 6 million shares of the iShares Bitcoin Trust ETF by December 31. The fund, which was the first fund of its kind to report investing in crypto following the debut of bitcoin ETFs, couldn't immediately be reached for comment. Other large investment funds also boosted their holdings in the ETFs, which launched in January 2024. Tudor Investment Corp, a systematic hedge fund manager, reported its holdings of the iShares ETF -- now the largest of the pack, with more than $55 billion in assets -- climbed to 8 million shares, from 4.4 million shares. The value of those holdings also soared, reflecting bitcoin's jump in value, hitting $426.9 million, up from $159.9 million at the end of September. Tudor didn't immediately respond to a request for comment. An Abu Dhabi sovereign wealth fund, Mubadala Investment Co, reported its first foray into bitcoin ETFs in the fourth quarter, taking a 8.2 million share stake in the iShares ETF that was worth $436.9 million. Hedge fund Hunting Hill Capital had no exposure to these ETFs as of the end of the third quarter, but by December 31 had re-emerged as a significant investor, with positions valued at about $131 million by the end of the year. "We've been actively trading within the broader crypto ETF complex, and the timing of the third-quarter filing may not have aligned with when we bought and sold various ETFs," said Adam Guren, founder and chief investment officer of the firm. The ranks of those adding to positions included financial advisory firms whose clients have been eager buyers of bitcoin ETFs. Cetera Advisors and NewEdge Advisers were among firms that boosted holdings in several of the ETFs, including products offered by Fidelity, ARK Investments and Invesco. Other investors were more selective, the filings showed. Cresset Asset Management boosted its exposure to ETFs carrying lower fees, said Jack Ablin, the firm's chief investment officer. "It's also possible right now to get attractive options pricing for collar strategies, allowing us to protect the downside while giving away less of the upside in exchange, on these bitcoin funds," Ablin said. The 13F filings are one of the few ways to get insight into how institutional investors are positioned at the end of every quarter. The positions may not reflect current holdings. Sign in to access your portfolio
Yahoo
15-02-2025
- Business
- Yahoo
Fund managers boost exposure to bitcoin ETFs, quarterly US filings show
By Suzanne McGee (Reuters) - Asset managers, ranging from wealth management companies to hedge funds and pension funds, boosted allocations to U.S. exchange-traded funds tied to the price of bitcoin in the fourth quarter of 2024, as the price of the world's largest cryptocurrency soared 47%, according to recent regulatory filings. The State of Wisconsin Investment Board disclosed in its quarterly 13-F filings with the Securities and Exchange Commission that its bitcoin ETF holdings more than doubled in the final three months of last year, to 6 million shares of the iShares Bitcoin Trust ETF by December 31. The fund, which was the first fund of its kind to report investing in crypto following the debut of bitcoin ETFs, couldn't immediately be reached for comment. Other large investment funds also boosted their holdings in the ETFs, which launched in January 2024. Tudor Investment Corp, a systematic hedge fund manager, reported its holdings of the iShares ETF -- now the largest of the pack, with more than $55 billion in assets -- climbed to 8 million shares, from 4.4 million shares. The value of those holdings also soared, reflecting bitcoin's jump in value, hitting $426.9 million, up from $159.9 million at the end of September. Tudor didn't immediately respond to a request for comment. An Abu Dhabi sovereign wealth fund, Mubadala Investment Co, reported its first foray into bitcoin ETFs in the fourth quarter, taking a 8.2 million share stake in the iShares ETF that was worth $436.9 million. Hedge fund Hunting Hill Capital had no exposure to these ETFs as of the end of the third quarter, but by December 31 had re-emerged as a significant investor, with positions valued at about $131 million by the end of the year. "We've been actively trading within the broader crypto ETF complex, and the timing of the third-quarter filing may not have aligned with when we bought and sold various ETFs," said Adam Guren, founder and chief investment officer of the firm. The ranks of those adding to positions included financial advisory firms whose clients have been eager buyers of bitcoin ETFs. Cetera Advisors and NewEdge Advisers were among firms that boosted holdings in several of the ETFs, including products offered by Fidelity, ARK Investments and Invesco. Other investors were more selective, the filings showed. Cresset Asset Management boosted its exposure to ETFs carrying lower fees, said Jack Ablin, the firm's chief investment officer. "It's also possible right now to get attractive options pricing for collar strategies, allowing us to protect the downside while giving away less of the upside in exchange, on these bitcoin funds," Ablin said. The 13F filings are one of the few ways to get insight into how institutional investors are positioned at the end of every quarter. The positions may not reflect current holdings.
