Financial Times: Multiple pension funds in the UK and Australia have recently made small allocations to Bitcoin

PANews reported on January 16 that according to the Financial Times, pension funds are trying to buy Bitcoin. Pension funds in the U.S. states of Wisconsin and Michigan have become among the largest holders of cryptocurrency-focused U.S. stock market funds, while some pension fund managers in the U.K. and Australia have also invested in Bitcoin through funds or derivatives in recent months. A small allocation was made. As of the end of September, the Wisconsin Investment Council became the 12th largest holder of the BlackRock Bitcoin ETF, with its stake worth approximately $155 million. Michigan is the sixth-largest holder of the Grayscale Ethereum ETF, with holdings worth $12.9 million, and the 11th-largest holder of the ARK 21Shares Bitcoin ETF.

British pension fund advisory firm Mercer has been flooded with inquiries since the US election day, with trustees not wanting to be left in the dark about a popular asset class. Most pension funds have turned to regulated U.S. spot Bitcoin or Ethereum ETFs that were approved last year. In the UK, pension consulting firm Cartwright has facilitated the first Bitcoin transaction. An undisclosed small pension plan directly invested approximately 1.5 million pounds in Bitcoin, hoping to fill the funding gap through excess returns. At the same time, more than 50 individual savers want to transfer the full amount of their pension funds to cryptocurrency. Cartwright is exploring the possibility of setting up a Bitcoin fund with two multi-employer pension funds.

Australian pension fund management company AMP has also used Bitcoin to boost returns. AMP senior portfolio manager Steve Flegg said that although cryptocurrencies are risky and novel, their size and potential cannot be ignored, so the AMP portfolio has a moderate allocation to Bitcoin futures. However, funds with allocations to Bitcoin and other cryptocurrencies remain a minority in the superannuation industry, with most advisers reluctant to advise clients to dabble in cryptocurrencies.