Markets
Share this article

Michigan’s State Pension Boosts Bitcoin ETF Stake, Signaling Cautious Confidence in Crypto's Future

The State of Michigan Retirement System disclosed ownership of 300,000 shares of the ARK Bitcoin ETF as of June 30, or about $11.3 million worth at current prices.

By Helene Braun, AI Boost|Edited by Stephen Alpher
Aug 6, 2025, 1:58 p.m.
Lansing, capital of Michigan. (justcade95/Unsplash)
Lansing, capital of Michigan. (justcade95/Unsplash)

What to know:

  • The State of Michigan Retirement System raised its exposure to bitcoin in the second quarter, nearly tripling its stake in the ARK Bitcoin ETF (ARKB).
  • Despite the increase, Michigan’s total bitcoin exposure remains minimal, amounting to just 0.03% of its $79 billion in assets.

The State of Michigan Retirement System (SMRS) has notably expanded its investment in bitcoin BTC$71,020.85, perhaps demonstrating either a growing appetite for risk or a firm belief in the cryptocurrency’s future value.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.

In a 13F filing with the Securities and Exchange Commission (SEC) on Tuesday, the pension fund revealed it had increased its position in the Ark Bitcoin ETF (ARKB) to 300,000 shares, up from 110,000 in the previous quarter.

At bitcoin's current value around $114,000 and ARKB’s current price of $37.79 per share, this position is now valued at approximately $11.3 million. That would be just 0.03% of the fund's $79 billion in assets under management.

Pension funds are typically very risk-averse, making it rare for them to allocate significant funds into cryptocurrencies, with only a few having done so. The fact that Michigan's pension system is increasing its holdings suggests a highly cautious, but nevertheless positive outlook on bitcoin's future value.

The fund also continues to hold the Grayscale Ethereum Trust (ETHE), 460,000 shares, valued at around $9.6 million as of June 30.



Bitcoin ETF
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.