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Jersey City to Invest in Bitcoin ETFs, the Latest Pension to Dive Into Crypto
“The question on whether Crypto/Bitcoin is here to stay is largely over + crypto/Bitcoin won,” said Jersey City Mayor Steven Fulop in a tweet.
The municipal pension plan of Jersey City, New Jersey, will soon invest in bitcoin via exchange-traded funds, according to a Thursday social media post from Mayor Steven Fulop.
While it's not likely to be a gigantic sum, the decision is another symbolic win for cryptocurrency on the road toward wider adoption. The move follows a Wisconsin pension making a similar decision earlier this year.
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Fulop, who has been the mayor of Jersey City since 2013, took to X (formerly Twitter) to announce the forthcoming investment, writing: “Not my normal subject matter in a post but I’ll share anyway – the question on whether [c]rypto/Bitcoin is here to stay is largely over [and] crypto/Bitcoin won.”
Fulop, a Democrat, has thrown his hat into the ring for New Jersey’s 2025 gubernatorial election. Incumbent Governor Phil Murphy, also a Democrat, has already served two terms and is ineligible for reelection.
Not my normal subject matter in a post but I’ll share anyway - the question on whether Crypto/Bitcoin is here to stay is largely over + crypto/Bitcoin won. The #JerseyCity pension fund is in process of updating paperwork to the SEC to allocate % of the fund to Bitcoin ETFs… https://t.co/5iNEqRqHGM
— Steven Fulop (@StevenFulop) July 25, 2024
Fulop added that the city’s pension fund, the Employees Retirement System of Jersey City, is currently in the process of updating paperwork with the U.S. Securities and Exchange Commission (SEC) to allocate a percentage of the fund to bitcoin ETFs. According to Fulop’s tweet, the investment is expected to be completed “by end of the summer.”
Though Fulop did not specify exactly how much of the pension funds' assets under management will be allocated to bitcoin ETFs, he said it would be “similar” to the 2% allocation to bitcoin ETFs made by Wisconsin’s state pension fund earlier this year. Fulop did not specify which bitcoin ETF Jersey City was considering selecting for its investment.
“I’ve been a long time believer (through ups/downs) in crypto but [b]roadly, beyond crypto [I] do believe blockchain is amongst the most important new technology innovations since the internet,” Fulop said.
Interest in bitcoin from public pension funds is growing slowly but surely.
Wisconsin’s public pension plan – the State of Wisconsin Investment Board, which has roughly $156 billion in assets under management – is the biggest pension plan to dive into crypto so far, with a $160 million investment into spot bitcoin ETFs earlier this year. Some small pension funds like the Houston Firefighters’ Relief and Retirement Fund, which has about $5 billion in assets under management, have been invested in crypto for several years.
The pensions of Fairfax County, Virginia, also invested in crypto exposure through VanEck's New Finance Income Fund, which became a creditor to crypto firm Genesis as it filed for bankruptcy last year.
Outside of the U.S., public pension plans including Japan’s $1.4 trillion Government Pension Investment Fund, the largest pension plan in the world, put out a request for information on bitcoin investments earlier this year.
“I’m sure eventually it will be more common,” Fulop said of pension funds allocating to crypto in his tweet.
The Jersey City Mayor’s Office did not respond to CoinDesk’s request for comment by publication time.
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Bilinmesi gerekenler:
- 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.
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Canadian Province Wins Forfeiture of $1M QuadrigaCX Co-Founder's Cash & Gold via Default Judgment
The ruling transfers cash, gold bars, watches, and jewelry seized from a CIBC safety deposit box and bank account into government hands after Patryn did not defend the case.
Bilinmesi gerekenler:
- The Supreme Court of British Columbia has forfeited $1 million in cash and gold tied to QuadrigaCX's co-founder, Michael Patryn, to the government.
- Patryn did not contest the forfeiture, which involved 45 gold bars, luxury watches, and over $250,000 in cash seized under an Unexplained Wealth Order.
- The forfeiture may lead to a process determining if any assets can be directed to QuadrigaCX's creditors, who received 13 cents on the dollar in the bankruptcy settlement.
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