Share this article
Wisconsin Sells Entire $350M Spot Bitcoin ETF Stake
The move came after the state investment board doubled its exposure to spot bitcoin ETFs late last year as markets fell.
Updated May 16, 2025, 4:14 p.m. Published May 16, 2025, 12:35 p.m.
What to know:
- The State of Wisconsin Investment Board (SWIB) exited its entire position in BlackRock’s iShares Bitcoin Trust (IBIT).
- SWIB, one of the first U.S. state pension funds to invest in a spot bitcoin ETF, had doubled its exposure to bitcoin in late 2024.
- Abu Dhabi’s sovereign wealth fund, Mubadala Investments, increased its stake in BlackRock’s IBIT in the first quarter of 2025.
The State of Wisconsin Investment Board (SWIB), one of the first U.S. state pension funds to invest in a spot bitcoin exchange-traded fund, exited its position entirely in the first quarter as the price of the largest cryptocurrency fell about 12%.
At end of 2024, the board held more than 6 million shares in BlackRock’s iShares Bitcoin Trust (IBIT), a position valued at around $350 million based on recent prices. That stake is now gone, according to its latest 13F filing.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The offload occurred less than a year after Wisconsin made headlines as an early institutional adopter of the newly approved crypto investment vehicles and stands in contrast to the board’s activity just months earlier. In late 2024, SWIB more than doubled its exposure to bitcoin by raising its IBIT holdings from about 2.9 million to over 6 million shares.
The board added indirect exposure to bitcoin via Strategy (MSTR) shares. In the first quarter it added 26,571 MSTR shares, worth around $10.5 million.
Established in 1951, SWIB manages over $160 billion in assets, serving Wisconsin state employees through the Wisconsin Retirement System and other funds.
In contrast, Mubadala Investments, Abu Dhabi’s sovereign wealth fund, increased its stake in BlackRock’s IBIT in the first quarter of the year. The fund, its latest 13F shows, added in a little over 490,000 shares valued at around $29 million.
Bitcoin has risen 27% to trade near $103,750 since the end of the quarter.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Di più per voi
Bitcoin drifts lower as $81.3k emerges as the market’s key fault line: Asia Morning Briefing
With large caps still tracking bitcoin and high-beta assets already weakened, Glassnode’s True Market Mean has become the line investors are watching most closely.
Cosa sapere:
- Bitcoin's True Market Mean at $81.3k is a critical level, with potential market-wide implications if breached.
- Large-cap crypto assets remain closely correlated with bitcoin, reinforcing its role as the market's anchor.
- Gold prices have surged to record highs, driven by central bank buying and geopolitical risks, with forecasts suggesting further increases.
Top Stories
