Wisconsin Investment Board sold off its Bitcoin ETF stash
The State of Wisconsin Investment Board (SWIB) sold all 6,060,351 shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT) in Q1 2024, valued at approximately $355.6 million. SWIB had previously invested $164 million in Bitcoin ETFs when they launched. The liquidation follows a quarter where SWIB had increased its holdings in IBIT and reallocated shares from the Grayscale Bitcoin Trust. At the end of 2024, SWIB managed over $166 billion in assets, with Bitcoin ETFs constituting about 0.2% of its portfolio. In contrast, Abu Dhabi's Mubadala sovereign wealth fund acquired an additional 491,439 IBIT shares, totaling 8,726,972 shares worth around $512 million. IBIT has seen net inflows exceed $45 billion, with a recent streak of inflows ending on May 13. Other Bitcoin funds, such as Fidelity Wise Origin and ARK 21Shares, have significantly lower total inflows compared to IBIT.
