Michigan State Pension Triples Bitcoin ETF Exposure, Latest Filing Shows

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.