HomeBitcoinUW-Whitewater professor claims state is not investing enough in Bitcoin ETFs despite...

UW-Whitewater professor claims state is not investing enough in Bitcoin ETFs despite recent purchase

-


Wisconsin’s Pension Fund Invests $164 Million in Bitcoin ETFs: What It Means for the State

Wisconsin’s Pension Fund Makes $164 Million Investment in Bitcoin ETFs

Wisconsin’s pension fund recently made a bold move by purchasing $164 million worth of shares in Bitcoin exchange-traded funds (ETFs). This investment came after the Securities and Exchange Commission gave the green light to Bitcoin ETFs earlier this year.

The decision to invest in ETFs rather than directly in Bitcoin itself is significant, according to Paul Nylen, a professor at the University of Wisconsin-Whitewater and the faculty director of the Blockchain and Cryptocurrency Institute. Nylen explained that by investing in ETFs, pension funds can rely on trusted third-party custodians like Blackrock or Fidelity to hold the Bitcoin on their behalf, reducing the risk of loss or fraud.

While the investment in Bitcoin may seem risky to some, Nylen believes that the volatility of the cryptocurrency is actually a positive factor for long-term growth. Despite experiencing significant price fluctuations in recent years, Bitcoin has reached new highs in 2022, demonstrating its potential as a valuable asset.

In a conversation with WPR’s “Wisconsin Today,” Nylen discussed the implications of Wisconsin’s investment in Bitcoin and addressed questions about the regulatory environment for cryptocurrency. He emphasized the importance of clarity in regulatory frameworks and suggested that Wisconsin may benefit from increasing its allocation to Bitcoin in the future.

Overall, Wisconsin’s foray into the world of cryptocurrency signals a growing acceptance of digital assets in traditional investment portfolios. As the market continues to evolve, it will be interesting to see how Wisconsin’s pension fund navigates the opportunities and challenges presented by Bitcoin and other cryptocurrencies.

LATEST POSTS

Binance Introduces 50 New Crypto Pairs for Spot Copy Trading

Exciting News: Binance Announces Support for 50 New Altcoin Pairs In a groundbreaking move, Binance, the world's leading cryptocurrency exchange, has announced the listing of...

Ethereum ETFs poised to draw billions in U.S. markets

Excitement Builds for Ethereum ETF Launch in the United States The long-awaited arrival of Ethereum-based exchange-traded funds (ETFs) that can directly hold Ethereum (ETH) is...

The Potential Impact of Crypto on Donald Trump’s Election Success in November

The Future of Crypto in U.S. Politics: A Call to Action for Elected Officials Former President Donald Trump's recent declaration that supporters of cryptocurrency should...

May Operational Update, TVR, and New Shares Announced by Argo Blockchain PLC

Argo Blockchain plc Provides Operational Update for May 2024 Argo Blockchain plc, a leading global cryptocurrency mining company, has released its operational update for May...

Most Popular