Following the state of Wisconsin, which announced that it bought it from the BlackRock spot Bitcoin ETF in May, Jersey City in the state of New Jersey in the USA also purchased Bitcoin.
Jersey City mayor Steven Fulop said the city will devote some of its retirement fund to Bitcoin ETFs.
Mayor Fulop said he estimates the Bitcoin ETF acquisition process will be completed by the end of summer.
Stating that Bitcoin won, Fulop said:
“The question of whether crypto/Bitcoin is here to stay is largely over and crypto/Bitcoin has won.
The Jersey City pension fund has earmarked 2% of the fund to allocate to Bitcoin ETFs, similar to what the Wisconsin Pension Fund has done, and is in the process of filing paperwork with the SEC . The process will be completed by the end of the summer and I am sure that investment in Bitcoin ETFs will become more widespread in the future.
“I've long been a believer in crypto, but overall, beyond crypto, I believe blockchain is among the most important new technology innovations since the internet.”
The State of Wisconsin Also Purchased Bitcoin ETF!
The Wisconsin State Board of Investment announced in May that it owned $163 million worth of spot Bitcoin ETF shares.
Accordingly, the Wisconsin State Investment Board, in its 13F application to the SEC, has BlackRock's iShares Bitcoin ETF worth $ 100 million and Grayscale Bitcoin Trust worth $ 64 million in its portfolio, as well as Coinbase, Block, Marathon Digital, Riot Platforms and other crypto companies. He stated that he also has shares in companies.
*This is not investment advice.