Wisconsin Investment Board Exits Entire $350M Spot Bitcoin ETF Position
The State of Wisconsin Investment Board (SWIB) fully exited its position in BlackRock’s iShares Bitcoin Trust (IBIT) in Q1 2024, following a 12% decline in bitcoin price. Previously, SWIB held over 6 million shares valued at approximately $350 million.
- SWIB had more than doubled its IBIT holdings to over 6 million shares late in 2024.
- In addition, SWIB acquired 26,571 shares of MicroStrategy (MSTR), worth around $10.5 million.
- SWIB manages over $160 billion in assets for Wisconsin state employees.
In contrast, Mubadala Investments increased its stake in IBIT by acquiring over 490,000 shares valued at about $29 million in the same quarter. Bitcoin has risen 27% since the end of the quarter, trading near $103,750.