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ARK 21Shares

State of Michigan Unveils Nearly $6,600,000 Investment in ARK 21Shares Bitcoin ETF

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New documents reveal that the State of Michigan holds millions of dollars worth of investments in the ARK 21Shares Bitcoin (BTC) exchange-traded fund (ETF).

According to a new 13-F filing with the U.S. Securities and Exchange Commission (SEC), the State of Michigan Retirement System has purchased 110,000 shares of ARK 21Shares BTC ETF (ARKB) worth nearly $6.6 million.

Says senior Bloomberg ETF analyst Eric Balchunas,

“Just checked and yes, [it] looks like Michigan’s Pension bought up some ARKB (although we have it as $7.4 million) which is small percentage-wise for them but it’s a start, they [are] now [the] third pension to report owning a BTC ETF.”

The ARK 21Shares’ BTC ETF is trading for $68.04 at time of writing, a 5.3% increase in the last 24 hours.

According to ETF-focused data analytics platform VettaFi, ARKB currently has $3.241 billion in total assets – the fourth-largest BTC ETF on the market.

The State of Michigan Retirement System is a statewide public pension plan for Michigan state employees, including public school workers. Based on the most recent 13-F filing, the State of Michigan Retirement System oversees $19.42 billion in assets.

In March, SEC documents unveiled that the State of Wisconsin Investment Board is holding $163 million worth of combined shares of BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale’s Bitcoin Trust (GBTC).

Bitcoin is trading for $68,208 at time of writing, a slight increase during the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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