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Wisconsin sells $300 million Bitcoin position

The state of Wisconsin's pension fund manager liquidated its entire Bitcoin position in the first quarter of 2025.

By Mike Hesp
• 2 min read
Wisconsin sells $300 million Bitcoin position

The state of Wisconsin's pension fund manager liquidated its entire Bitcoin position in the first quarter of 2025. That comes from new documents that were filed with the U.S. Securities and Exchange Commission.

From the report, roughly six million shares in BlackRock's iShares Bitcoin Trust (IBIT) as of March 31 were no longer in the fund's portfolio. That means Wisconsin sold its BTC stake likely shortly before the decline in prices around the so-called "Liberation Day," a day when panic briefly gripped the crypto market.

Notably, Wisconsin had said in February that it had doubled its 2024 position. The state isn’t fully pulling away from crypto, though. According to SEC data, the fund still holds Coinbase shares worth nearly $19 million.

As Wisconsin exits, other institutional players are using the April price correction as a buying opportunity. For example, Mubadala, Abu Dhabi's sovereign wealth fund, said it held as many as 8,726,972 IBIT shares as of March 31 — worth about $408.5 million. That expanded the fund's position by more than eight million shares.

The iShares Bitcoin Trust cements its position as the most popular Bitcoin ETF. IBIT recently posted twenty consecutive trading days of net inflows, pulling in over $5 billion. That influx of institutional capital is seen as a key driver behind Bitcoin's recent price rebound.

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