Wisconsin Investment Board 13-F Quarterly Report: Increased holdings of IBIT, clearance of GBTC

According to the 13-F filing submitted by the Wisconsin Investment Commission to the U.S. Securities and Exchange Commission, the commission purchased 447651 shares of the BlackRock Bitcoin Spot ETF (IBIT), bringing its total holdings to 2898051 shares valued at $98.9 million as of the end of the quarter. At the same time, they also sold all their previous holdings in Grayscale Bitcoin Trust (GBTC), which were valued at approximately $63.7 million as of last quarter's report.

This is the second consecutive quarter in which the committee has revealed investments in Bitcoin spot ETFs. However, despite an increase in the Wisconsin Investment Board's holdings in IBIT, the value of its holdings in US dollars actually decreased by $228227 due to the price drop. Therefore, as of the end of the quarter, the committee's total dollar exposure to Bitcoin spot ETFs decreased by approximately 39% compared to the previous quarter (approximately $161 million).

According to previous reports from Zombiet, Morgan Stanley also executed a similar transaction as the Wisconsin Investment Board in the second quarter, selling almost all of its GBTC holdings and increasing its holdings in the BlackRock Bitcoin Spot ETF. This decision may be related to the difference in transaction fees between the two ETFs. IBIT's annual management fee is about 0.25%, while GBTC's management fee is as high as 1.5%, the highest among ETFs of the same type.

In addition, the committee also purchased 5980 shares of cryptocurrency exchange Coinbase, bringing its total holdings to 98446 shares worth nearly $21.9 million. In addition, an additional 77996 shares of Bitcoin mining company Marathon Digital were purchased, with a total holding of 115084 shares worth approximately $2.3 million.