The state of Michigan's pension fund announces $ 10 million in Ethereum ETF stocks

• The State of Michigan's pension fund holds over $ 11 million in stock market-traded Spot ethereum funds.
• The 13f in the State of Michigan Retirement System is about $ 10 million for the Grayscale ETF ETHE and $ 1.1 million for the Grayscal Ethereum Mini Trust ETF (ETH).

The State of Michigan's pension fund has published in a 13f-to-get that there is over 10 million US dollar Spot ethereum fund has acquired and holds.

From the latest 13F filing, it shows from details that the State of Michigan Retirement System has disclosed its stocks at the Grayscale Ethereum Trust (Ethe) and Ethereum Mini Trust ETF (ETH).

According to the documents, the state pension insurance of Michigan holds 460,000 shares from ETHE worth around $ 10 million and 460,000 shares of ETH (the mini-trust-ETF) worth around $ 1.1 million.

Vaneck manager for digital assets Matthew Sigel divided the following details on x.

🚨 first state pension fund buys etf 🚨

state of Michigan reaches 13f and announces new ETH ETF stocks; Becomes the top 5 holder of $ eth & $ ethe pic.twitter.com/3eyrch3ldg

-Matthew Sigel, CFA recovery (@matthew_sigel) 4. November 2024

state pension funds buy spot crypto-ETFS

With these Spot ethereum-ETF stocks, the Michigan State Fund is the first company of this kind that reveals an ETH ETF stock.

It is remarkable that the State of Michigan Retirement System has already disclosed its Spot-Bitcoin ETF stocks, namely a position of $ 7 million. According to the latest 13F registration, the ether ETF position of the pension fund is greater than the Spot BTC ETF position.

Eric Balchunas, senior ETF analyst at Bloomberg, commented on this and said it was a "big prize" for Ethereum. This is particularly due to the fact that the BTC Prize has recorded enormous price increases compared to ETH, which has had major problems in recent months.

Balchunas wrote in A Post on x :

"Michigan's pension funds not only bought Ether ETFs, but also more Bitcoin ETFs than before, $ 10 million compared to $ 7 million, even though BTC has risen by one ton and is ether in the gosse." Pretty big win for ether that could use you. “

Several US states have disclosed Spot ETF stocks since the SEC approved BTC ETFs in January this year. These include the State of Wisconsin Investment Board and Florida, whose financial director revealed in an interview last week that the state's crypto stocks amount to around $ 800 million.