Michigan State Pension Fund Increases Investment in Bitcoin ETF – Suggests Cautious Confidence in the Future of cryptoassets | CoinDesk JAPAN

• The Michigan State Retirement System increased its exposure to Bitcoin in the second quarter, nearly tripling its investment in the Ark Bitcoin ETF.
• Despite this increase, Michigan's total exposure to Bitcoin remains minimal, accounting for only 0.03% of its $79 billion in assets.

This pension fund revealed in the 13F filing submitted to the SEC on the 5th that it increased its holdings of the ARK Bitcoin ETF (ARKB) from 110,000 shares in the previous quarter to 300,000 shares.

The current value of Bitcoin is approximately $114,000 (about 16.53 million yen, calculated at 145 yen per dollar), and the current price of ARKB is $37.79 per share (about 5,500 yen), making the value of this holding approximately $11.3 million (about 1.6385 billion yen). This accounts for only 0.03% of the fund's managed assets of $79 billion (approximately 11.445 trillion yen).

Pension funds are generally risk-averse, so it is rare for them to invest large amounts of money in cryptoassets, with very few funds actually doing so. The fact that the Michigan Retirement Pension System is increasing its holdings suggests a very cautious yet positive outlook on the future value of Bitcoin.

This fund also continues to hold 460,000 shares of Grayscale Ethereum Trust (ETHE), which is equivalent to approximately 9.6 million dollars (around 1.392 billion yen) as of June 30.

| Translation and Editing: Rin Lin | Image: justcade95/Unsplash |Original: Michigan’s State Pension Boosts Bitcoin ETF Stake, Signaling Cautious Confidence in Crypto’s Future

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