Wisconsin Divests $64M from GBTC, Shifts Focus to IBIT for Stability
- The State of Wisconsin Investment Board (SWIB) sold its entire $63.7 million stake in Grayscale Bitcoin Trust (GBTC) in Q2 2024.
- SWIB acquired 447,651 shares of IBIT, despite a slight valuation dip from $99.16 million to $98.93 million.
- IBIT has surpassed GBTC in assets under management and showcases more stable inflow and outflow trends.
SWIB’s move from GBTC to IBIT signifies a strategic shift towards more reliable and stable investment vehicles within the cryptocurrency market, reflecting growing confidence among institutional investors.
This decision by SWIB could pave the way for a broader trend among institutional investors, promoting increased market stability and growth in the realm of Bitcoin ETFs.
