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Michigan State pension fund accumulates Grayscale’s ETH ETFs
The post Michigan State pension fund accumulates Grayscale’s ETH ETFs appeared on BitcoinEthereumNews.com. Michigan State acquired shares from two Ethereum ETFs offered by Grayscale to become the first recorded State Pension Fund Ethereum ETFs purchase. The State of Michigan became a top five holder of Grayscale’s spot Ethereum according to a US Securities and Exchange Commission (SEC) filing. Michigan now holds almost half a million ETH shares The Michigan Form 13F to the SEC disclosed that the state has accumulated Grayscale’s ETH and ETHE products amounting to $10 million. The state of Michigan holds 460,000 shares of ETHE worth about $10 million and about 460,000 shares of the asset manager’s Ethereum Mini Trust valued at $1.1 million as of September 30. Michigan now holds more shares in ETH ETFs than in its spot Bitcoin said Bloomberg ETF expert Eric Balchunas. The state’s pension fund did not only buy Ether ETFs but spent $3 million more on ETH ETFs than on Bitcoin ETFs, splashing out $10 million on the former and $7 million on the latter. The investment in ETH ETFs comes as the Bitcoin price outperforms its peers. Analysts have said this is a win for ETH which it desperately needs. The State of Michigan is no stranger to cryptocurrency ETFs after it bought $6.6 million in Bitcoin ETFs from ARK 21Shares according to the SEC filing of July 2024. Michigan at the time was the second confirmed pension fund investment in the spot Bitcoin ETFs. Not only did Michigan’s pension buy Ether ETFs but they bought more then they did of bitcoin ETFs, $10m vs $7m, this despite btc being up a ton and ether in the gutter. Pretty big win for ether which could use one. https://t.co/0E6O6pKK8S — Eric Balchunas (@EricBalchunas) November 4, 2024 US states show approval of cryptocurrency Many US jurisdictions have gone public on their ETF holdings since…
The post Michigan State pension fund accumulates Grayscale’s ETH ETFs appeared on BitcoinEthereumNews.com.
Michigan State acquired shares from two Ethereum ETFs offered by Grayscale to become the first recorded State Pension Fund Ethereum ETFs purchase. The State of Michigan became a top five holder of Grayscale’s spot Ethereum according to a US Securities and Exchange Commission (SEC) filing. Michigan now holds almost half a million ETH shares The Michigan Form 13F to the SEC disclosed that the state has accumulated Grayscale’s ETH and ETHE products amounting to $10 million. The state of Michigan holds 460,000 shares of ETHE worth about $10 million and about 460,000 shares of the asset manager’s Ethereum Mini Trust valued at $1.1 million as of September 30. Michigan now holds more shares in ETH ETFs than in its spot Bitcoin said Bloomberg ETF expert Eric Balchunas. The state’s pension fund did not only buy Ether ETFs but spent $3 million more on ETH ETFs than on Bitcoin ETFs, splashing out $10 million on the former and $7 million on the latter. The investment in ETH ETFs comes as the Bitcoin price outperforms its peers. Analysts have said this is a win for ETH which it desperately needs. The State of Michigan is no stranger to cryptocurrency ETFs after it bought $6.6 million in Bitcoin ETFs from ARK 21Shares according to the SEC filing of July 2024. Michigan at the time was the second confirmed pension fund investment in the spot Bitcoin ETFs. Not only did Michigan’s pension buy Ether ETFs but they bought more then they did of bitcoin ETFs, $10m vs $7m, this despite btc being up a ton and ether in the gutter. Pretty big win for ether which could use one. https://t.co/0E6O6pKK8S — Eric Balchunas (@EricBalchunas) November 4, 2024 US states show approval of cryptocurrency Many US jurisdictions have gone public on their ETF holdings since…
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