Summary
- Global pension funds have reportedly been expanding their cryptocurrency investments following last year's 'Bitcoin rally'.
- Most pension funds are said to be investing in U.S. Bitcoin and Ethereum spot ETFs.
- It is crucial that trust managers are broadening their understanding of cryptocurrencies as a promising asset class.
Global pension funds have been expanding their cryptocurrency investments following last year's 'Bitcoin (BTC) rally'.
The Financial Times reported on the 16th that "pension funds are attempting to purchase Bitcoin," adding that "this shows that even in traditional financial sectors, it is becoming difficult to ignore the high potential returns of cryptocurrencies."
It is interpreted that the election of Donald Trump as the President of the United States has been a major factor in pension funds' cryptocurrency investments. Matt Scott, a consultant at the global consulting firm Mercer, which advises UK pension funds, stated, "Inquiries related to cryptocurrencies have surged since the U.S. presidential election," and "trust managers do not prefer to be completely unaware of promising asset classes such as cryptocurrencies."
The Financial Times noted that most pension funds are investing in Bitcoin and Ethereum spot exchange-traded funds (ETFs) approved in the U.S. last year. The Wisconsin Investment Board already held the 12th largest stake in BlackRock's Bitcoin ETF as of the end of September last year. Michigan holds the 6th largest stake in Grayscale's Ethereum ETF.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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