Bitcoin has successfully found its way to Wall Street and captured the excitement of institutional investors. Is Ethereum next?
What’s happening:
- The State of Michigan’s Retirement System pension fund has officially been revealed to own more than $10M USD of exposure to spot Ethereum ETFs according to recent filings with the United States Securities and Exchange Commission
Why it matters:
- This is the first time that an American pension fund has ever disclosed having exposure to Ethereum through the traditional public markets
Going deeper:
- The State of Michigan’s Retirement System pension fund owns multiple spot Ethereum ETFs, including the Grayscale Ethereum Trust (NYSE: ETHE) and the Grayscale Ethereum Mini Trust (NYSE: ETH)
- Ethereum has been successfully finding its way towards adoption in the traditional public markets following the landmark approval for spot Ethereum ETFs to be able to list on major stock exchanges in the United States as well as the first ever Exchange Traded Notes beginning to launch on the London Stock Exchange
The intrigue:
- American universities have also been placing bets on digital assets lately, with Emory University becoming the first university in the United States to disclose having exposure to Bitcoin through Grayscale’s Mini Bitcoin Trust (NYSE: GBTC)
