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Michigan State Pension Triples Bitcoin ETF Exposure, Latest Filing Shows

2025-08-06 07:27:43

Michigan State Pension Triples Bitcoin ETF Exposure, Latest Filing Shows

Main Idea

The State of Michigan Retirement System has tripled its Bitcoin exposure by increasing its holdings in the ARK 21Shares Bitcoin ETF, while also maintaining a significant position in the Grayscale Ethereum Trust.

Key Points

1. The Michigan Retirement System now holds 300,000 shares of the ARK Bitcoin ETF, valued at $11.4 million, up from 100,000 shares in Q1.

2. The pension fund also holds 460,000 shares of the Grayscale Ethereum Trust (ETHE), valued at approximately $13.6 million, unchanged since September 2024.

3. The fund's crypto investments constitute less than 0.1% of its total assets under management ($19.3 billion).

4. Bitcoin ETFs have seen four consecutive days of outflows totaling $1.4 billion, though ARKB experienced only one outflow during this period ($5.1 million).

5. Standard Chartered projects Bitcoin could reach $200,000 by year-end, driven in part by institutional inflows from pension funds.

Description

Michigan’s state pension fund tripled its exposure to Bitcoin in Q2, signaling growing institutional adoption despite recent ETF outflows.

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