State of Wisconsin Buys Nearly $100M Worth of BlackRock Spot Bitcoin ETF
Summary
The U.S. state of Wisconsin purchased 94,562 shares of BlackRock’s iShares Bitcoin Trust (IBIT) in the first quarter of the year, worth nearly $100 million. This makes Wisconsin the first state to disclose a bitcoin purchase. The state also bought shares of Grayscale's Bitcoin Trust (GBTC) worth about $64 million. The purchases were revealed in Wisconsin's quarterly 13F report filed with the Securities and Exchange Commission (SEC). The news led to a 1% rise in Bitcoin's value, which is currently trading at $61,957. The market is closely watching these disclosures to see if any large traditional finance funds invested in the bitcoin ETFs since their launch earlier this year.
