First UK Pension Fund Invests in Bitcoin
Summary
British pension specialist Cartwright has guided the first UK pension fund to allocate 3% of its £50 million assets into bitcoin. This investment, made after extensive consultations on ESG, investment case, and security, involves direct crypto investment rather than through a proxy like an ETF. The private key is distributed among five independent institutions. This allocation is significant compared to the State of Wisconsin pension's 0.1% bitcoin investment via spot ETFs. Cartwright is also introducing a Bitcoin Employee Benefits scheme, allowing employers to pay bitcoin into employee wallets, with interest from five companies.
