The State Wisconsin Investment Board (Swib), one of the first US State Pension funds to invest in a spot Bitcoin

The exchange traded fund left its position exclusively in the first quarter, as the price of the largest cryptocurrency fell approx. 12%.

By the end of 2024, the board had more than 6 million shares in Blackrocks Ishares Bitcoin Trust (Ibit), a position worth about $ 350 million based on recent prices. This share is now gone, according to the latest 13F archiving.

Offoads occurred less than a year after Wisconsin made headlines as an early institutional adopter of the newly approved cryptoin -investing vehicles and contradicts the activity of the board only months earlier. At the end of 2024, more than its exposure to Bitcoin swung by raising its IBIT holdings from approx. 2.9 million to over 6 million shares.

The Board of Directors added indirect exposure to Bitcoin via Strategy (MSTR) shares. In the first quarter, it added 26,571 Mstr shares to a value of about $ 10.5 million.

Established in 1951, Swib manages over $ 160 billion in assets and serves Wisconsin State staff through the Wisconsin Retirement System and other foundations.

In contrast, Mubadala Investments, Abu Dhabis Søvereign Wealth Fund, increased its share in Blackrocks Ibit in the first quarter of the year. The fund, its latest 13F shows, added just over 490,000 shares worth about $ 29 million.

Bitcoin has risen 27% to trade nearly $ 103,750 since the end of the quarter.