Michigan Pension Fund Invests $10M In Ethereum ETFs, Exceeds Bitcoin Holdings
Posted On November 4, 2024
The Michigan State Pension Fund has invested $10 million in Grayscale’s Ethereum ETFs (NYSE:ETHE), making it one of the top holders of the product.
What Happened: According to an SEC filing, this investment surpasses Michigan’s $7 million allocation in Bitcoin (CRYPTO: BTC) ETFs, marking a notable shift in institutional interest.
Meanwhile, CoinShares’ report on Monday shows that digital asset investment products witnessed substantial inflows of $2.2 billion last week, pushing year-to-date inflows to a record $29.2 billion.
This spike coincides with increasing market anticipation of a potential Republican win in the U.S. presidential election.
The surge has pushed the …
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