The State of Michigan Retirement System has nearly tripled its Bitcoin ETF holdings, signaling rising institutional confidence in digital assets.
Michigan’s state pension fund has significantly increased its exposure to Bitcoin (BTC) via the ARK 21Shares (ARKB) exchange-traded fund, highlighting how ETFs are streamlining access to digital assets for institutional investors.
By the end of the second quarter, the State of Michigan Retirement System owned 300,000 ARKB shares, worth $10.737 million, according to regulatory filings with the US Securities and Exchange Commission (SEC). This marks a notable increase from the 110,000 shares it held in the previous year.
ARKB is one of the 11 spot Bitcoin ETFs approved by the SEC in January 2024, offering direct exposure to the cryptocurrency.
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