Michigan Invests $6.6M in Bitcoin ETFs for Pension Fund

Michigan Invests $6.6M in Bitcoin ETFs for Pension Fund

The State of Michigan Retirement System has allocated $6.6 million to ARK 21Shares' ARKB spot Bitcoin exchange-traded fund (ETF). This investment, disclosed in a 13-F filing with the U.S. Securities and Exchange Commission (SEC), accounts for a minor 0.004% of the state's expansive $143.9 billion pension fund. Michigan's strategic move mirrors a growing trend among institutional investors towards Bitcoin, particularly in pension funds. Recent...

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