“The question of whether crypto/Bitcoin is here to stay is largely over, and crypto/Bitcoin has won,” Mayor Fulop stated. “The Jersey City pension fund has set aside 2% of the fund to allocate to Bitcoin ETFs, similar to what the Wisconsin Retirement Fund has done, and is in the process of filing paperwork with the SEC. I anticipate that the process will be completed by the end of summer, and I am confident that investment in Bitcoin ETFs will become more widespread in the future.”

Wisconsin Leads the Way

Wisconsin had previously made headlines in May when the Wisconsin State Investment Board disclosed holdings in spot Bitcoin ETFs worth $163 million. The board’s 13F filing with the SEC revealed a $100 million stake in BlackRock’s iShares Bitcoin ETF and a $64 million stake in Grayscale Bitcoin Trust, along with holdings in companies like Coinbase, Block, Marathon Digital, Riot Platforms, and others.

Growing Institutional Interest in Bitcoin

The decisions by both Jersey City and Wisconsin to allocate a portion of their pension funds to Bitcoin ETFs signify a growing trend of institutional interest in Bitcoin. As more traditional financial institutions and government entities recognize the potential of Bitcoin as a long-term asset, the cryptocurrency’s adoption is likely to accelerate.

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