The State of Michigan Retirement System has tripled its exposure to Bitcoin, increasing its holdings of the ARK 21Shares Bitcoin ETF (ARKB) to 300,000 shares, now valued at approximately $11.4 million.
This marks the pension fund’s largest move into Bitcoin to date and places it among a growing number of U.S. state funds, including the State of Wisconsin Investment Board, that are allocating capital to crypto-linked assets.
The significant increase comes even as the broader Bitcoin ETF market is facing pressure, having recorded four consecutive days of outflows totaling $1.4 billion. Despite this short-term volatility, the long-term outlook remains bullish, with analysts from Standard Chartered forecasting that Bitcoin could reach $200,000 by the end of 2025.
This sentiment is echoed by billionaire hedge fund manager Philippe Laffont, who placed Bitcoin in his “Fantastic 40” list of top investment opportunities for the next five years.
The State of Michigan Retirement System, a historically conservative pension fund, has shown a cautious but optimistic approach to cryptocurrency. The fund recently increased its Bitcoin holdings by tripling its position in the ARK 21Shares Bitcoin ETF (ARKB).
Additionally, it has maintained its long-standing position in the Grayscale Ethereum Trust (ETHE), holding 460,000 shares valued at approximately $9.6 million.
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