Wisconsin holds $99 million in BlackRock's Bitcoin ETF

The State of Wisconsin Investment Board (SWIB) has disclosed an investment exceeding $99 million in BlackRock's IBIT, a spot Bitcoin ETF, as per their SEC 13F filings at the quarter's end. This acquisition positions SWIB alongside major institutions like UBS, JPMorgan, and Wells Fargo, which have also engaged with crypto ETFs. Despite market fluctuations and notable outflows from other ETFs, IBIT experienced net inflows, highlighting an increasing institutional appetite for Bitcoin-based ETFs.