Institutional
investors
and
US
states
are
displaying
heightened
interest
in
the
Bitcoin
ETF
market
following
regulatory
approval
by
the
US
Securities
and
Exchange
Commission
(SEC)
in
January.

The
latest
development
reveals
that
Wisconsin’s
investment
board
has
invested
approximately
$100
million
in
BlackRock’s
iShares
Bitcoin
Trust
ETF.

US
States
Eye
Bitcoin
ETF
Market

According
to
a
recent

13F
form

filed
with
the
SEC,
the
Wisconsin
investment
board
acquired
$98.6
million
worth
of
shares
in
the
BlackRock
ETF.

 

This
significant
investment
contributes
to
BlackRock’s
growing
presence
in
the
newly
regulated
market,
which
has
experienced
a
substantial
increase
in
inflows
and
trading
volume
since
January.

In
addition,
demonstrating
the
growing
interest
of
US
states
in
exploring
opportunities
to
invest
in
the
Bitcoin
ETF
market,
Keith
Ammon,
New
Hampshire
State
Representative
and
Vice
Chair
of
Commerce
and
Consumer
Affairs,
recently
initiated
a
discussion
on
diversifying
the
state’s
financial
reserves
by
investing
in
Bitcoin
ETFs. 

BTC
ETFs
Poised
For
Expansion?

As

reported

by
Bitcoinist
on
Monday,
Ammon’s
analysis
highlights
the
potential
benefits.
It
states
that
if
New
Hampshire
had
allocated
just
5%
($4.65
million)
of
its
2016
rainy
day
fund
to
Bitcoin,
it
would
now
be
worth
nearly
half
a
billion
dollars
($473
million),
representing
a
substantial
10,000%
return
on
investment.

Ammon
also
references
Manuel
Nordeste,
Fidelity’s
Vice
President
of
Digital
Assets,
who
emphasizes
the
growing
trend
among
major
pension
funds
and
big
banks
towards
allocating
funds
to
spot
Bitcoin
ETFs. 

 

Nordeste’s
insights
reveal
that
25%
of
pension
managers
personally
own
digital
assets,
indicating
a
significant
shift
in
interest
within
the
digital
asset
market. 

Ammon
suggests
that
if
only
1%
of
state
pension
assets
under
management
($5.5
trillion)
were
to
flow
into
Bitcoin,
it
would
surpass
mining
revenue,
creating
a
supply
shortage
relative
to
demand
and
driving
further
price
increases
for
Bitcoin.

In
sum,
these
developments
underscore
the
increasing
appeal
of
Bitcoin
ETFs
to
institutional
investors
and
US
states
alike.
With
continued
regulatory
approval
and
growing
interest,
the
Bitcoin
ETF
market
seems
to
be
poised
to
experience
further
expansion
in
the
coming
months.

At
press
time,
the
largest
cryptocurrency
in
the
market
is
trading
at
$61,600
after
failed
attempts
to
consolidate
above
Monday’s
high
of
$63,000. 

 

Featured
image
from
Shutterstock,
chart
from
TradingView.com

Go to Source
Author: Ronaldo Marquez

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