The reveal of the significant significance Bitcoin ETF State of Michigan’s pension fund also revealed a $10 million notable investment in Ethereum exchange-traded funds. In fact, Michigan is now one of first states to announce significant investment in the ETH Investment Vehicle.
Spot Ethereum ETFs In July, the United States approved the second ETF based on cryptography. The ETFs followed Bitcoin, the world’s leading cryptocurrency that became the first ETF in its category in January this year.
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Michigan Pension Fund reports Ethereum ETF holdings that exceed its Bitcoin allocation
Crypto’s continued growth, especially in institutional investments, has seen a huge boost since 2024. Exchange-traded fund (ETF) has created a new avenue for this asset class. Now companies, and even governments are looking at the best way to handle potential exposure.
Michigan’s pension fund, which has invested in Bitcoin ETFs along with Ethereum ETFs, is a state that fully embraces the technology. This week, the a filing with the US Securities and Exchange Commission (SEC) BTC announced a 6,9-million dollar investment in its investment product.
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Many people thought that the exposure to digital assets ended there, but it didn’t. Eric Balchunas is a Bloomberg journalist and analyst who recently talked about this groundbreaking investment. In addition, Bloomberg analyst and reporter Eric Balchunas recently discussed the groundbreaking investment. post to X He noted (formerly Twitter) that this move is a huge win for cryptocurrency.
“Not only did Michigan’s pension buy Ether ETFs, but they bought more than they did of Bitcoin ETFs,” Balchunas said. He also noted that the sale occurred.
BTC is up by a lot and Ether in the gutter.” Altogether, he noted the move as a “Ether is a big winner, and could really use one.
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Source: watcher.guru
