While institutional investments in Bitcoin continue, the latest news came from the UK. Accordingly, a pension fund in the country has invested in Bitcoin.
British pension expert Cartwright pioneered and brokered the country’s first pension fund investment in Bitcoin.
The unnamed fund invested 3% of its total assets directly in BTC, rather than using an intermediary like spot Bitcoin ETFs.
Cartwright stated that he is calling on institutional investors to invest their assets in Bitcoin (BTC), and he wants more institutional investors to invest in BTC.
Cartwright’s head of digital assets, Glenn Cameron, said in a statement that the unnamed fund bought £50 million ($65 million) worth of BTC last month for 3% of its assets.
While many local and federal governments are looking to crypto investments for their pension funds in 2024, Legal and General, a pension and investment company in the UK with $1.5 trillion in assets under management, announced in October that it would consider offering tokenized funds.
Apart from that, South Korea’s pension fund reported an exposure of around $34 million to Bitcoin bull MicroStrategy, while in the US, the Michigan State Pension fund said it had around $18 million in Bitcoin and Ethereum investments as of September 30.
*This is not investment advice.