The last year has represented a massive shift in perspective for the cryptocurrency market in the United States. Further evidence of that fact has come to light Friday as the State of Wisconsin Investment Board reported more than $321 million in BlackRock’s iShare’s Bitcoin Trust (IBIT) ETF, according to a recent SEC filing.
The filing represents yet another entity that has invested in the leading cryptocurrency through SEC-approved investment vehicles. Moreover, just a day earlier, Goldman Sachs increased its position in the BTC ETFs, revealing their $1.27 billion position in the product.
JUST IN: 🇺🇸 State of Wisconsin Investment Board discloses $321 million Bitcoin ETF holdings.
— Watcher.Guru (@WatcherGuru) February 14, 2025
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Wisoncsion Reports $321 million BlackRock Bitcoin ETF Holdings
Throughout 2024, the cryptocurrency market underwent a massive shift. It culminated in the leading crypto reaching a six-figure price for the first time and was driven—in large part—by the arrival of Spot Bitcoin ETFs. The investment products were approved in January of last year and marked a notable turning point.
It set the stage for continued adoption that should only surge this year. With pro-crypto President Donald Trump taking the Oval Office, he has already enacted a complete crypto policy overhaul. That has only reinforced the commitment to the asset by several states. Among them is Wisconsin, whose State Investment Board disclosed $321 million in BlackRock’s Bitcoin ETF.
Also Read: BlackRock Launches Spot Bitcoin ETF on Cboe Canada
The investment represents 0.8% of the state’s entire holdings, according to the filing. Moreover, it assures the continued shift in US government policy at the state level. IN 2025, lawmakers in 20 US states have pushed to create Bitcoin reserve bills. That could have a massive impact on the overall cryptocurrency market if the legislation is passed.
According to asset manager VanEck’s head of digital asset research, Matthew Sigel, these reserve bills could drive $23 billion in buying. Moreover, it would only encourage this jurisdiction to follow Wisconsin’s lead. The price of Bitcoin has only been thriving, with many expecting an impending bull market to push the asset to new heights once again.
