Wisconsin Investment Board Exits $350M Spot Bitcoin ETF Position After Market Downturn
The State of Wisconsin Investment Board (SWIB) has completely sold off its $350 million holding in BlackRock’s iShares Bitcoin Trust (IBIT) during the first quarter of 2025, following a roughly 12% decline in bitcoin prices.
SWIB, recognized as one of the earliest state pension funds to invest in spot bitcoin ETFs, held over 6 million shares of IBIT at the end of 2024. However, its latest 13F filing confirms that the fund has now fully divested this stake.
This sale contrasts with SWIB’s aggressive move late last year, when it more than doubled its IBIT holdings from about 2.9 million shares to over 6 million, signaling strong confidence in bitcoin’s prospects at the time.
Additionally, the board increased its indirect bitcoin exposure in Q1 by acquiring 26,571 shares of MicroStrategy (MSTR), valued at approximately $10.5 million.
Founded in 1951, SWIB manages assets exceeding $160 billion, providing retirement benefits to Wisconsin state employees and managing several other public funds.
Meanwhile, Mubadala Investments, Abu Dhabi’s sovereign wealth fund, increased its BlackRock IBIT position by over 490,000 shares worth roughly $29 million during the same period, according to its latest filings.
Since the end of Q1, bitcoin has rallied 27%, trading near $103,750.
