Pension Funds Increase Bitcoin Holdings Amid Growing Institutional Interest
Regardless of election outcomes, long-term factors supporting BTC include government deficit spending, Federal Reserve monetary policy, and increased institutional adoption. Notably, pensions and endowments are significant players in this trend.
Recently, Emory University disclosed owning $15 million in the Grayscale Bitcoin Mini Trust and over 4,000 shares of Coinbase. A 13F filing revealed the State of Michigan Retirement System's crypto exposure, which includes $7 million in the Ark 21Shares Bitcoin ETF and approximately $11 million in Grayscale ether ETFs.
A UK pension scheme recently allocated 3% to bitcoin after completing due diligence. Samara Cohen from BlackRock noted that significant infrastructure is needed for pensions and endowments to access BTC. She emphasized the importance of financial positions, legal permissions, and investment guidelines.
Onramp, chosen as the asset manager by Cartwright, aims to facilitate client access to BTC. CEO Michael Tanguma predicts other pensions will follow suit, asserting that bitcoin will become a core asset in portfolios, influenced by banks' custody roles and anticipated price increases.