Michigan State Retirement System Buys $6.6 Million Worth of ARK 21Shares Bitcoin (BTC) ETF

New documents reveal that the State of Michigan holds millions of dollars worth of investments in the ARK 21Shares Bitcoin (BTC) exchange-traded fund (ETF).

The State of Michigan now holds millions of dollars in an ARK 21Shares Bitcoin ( BTC ) exchange-traded fund (ETF), according to new filings.

The State of Michigan Retirement System has purchased 110,000 shares of ARK 21Shares BTC ETF ( ARKB ) for nearly $6.6 million, according to a 13-F filing with the U.S. Securities and Exchange Commission (SEC).

“Just checked and yes, it looks like Michigan's Pension bought up some ARKB (although we have it as $7.4 million) which is small percentage-wise for them but it's a start, they are now third pension to report owning a BTC ETF,” said senior Bloomberg ETF analyst Eric Balchunas.

At the time of writing, the ARK 21Shares BTC ETF is trading at $68.04, up 5.3% in the last 24 hours.

According to ETF-focused data analytics platform VettaFi, ARKB is the fourth-largest BTC ETF in the market, with $3.241 billion in total assets.

The State of Michigan Retirement System is a statewide public pension plan for Michigan state employees, including public school workers. According to the latest 13-F filing, the State of Michigan Retirement System has $19.42 billion in assets under management.

In March, the State of Wisconsin Investment Board was revealed to be holding a combined $163 million in shares of BlackRock's iShares Bitcoin Trust ( IBIT ) and Grayscale's Bitcoin Trust ( GBTC ), according to SEC documents.

At the time of writing, Bitcoin is trading at $68,208, up slightly in the last 24 hours.

The above is the detailed content of Michigan State Retirement System Buys $6.6 Million Worth of ARK 21Shares Bitcoin (BTC) ETF. For more information, please follow other related articles on the PHP Chinese website!