FILE PHOTO: Physical representations of the bitcoin cryptocurrency are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
In May, the state of Wisconsin's investment board, which manages $156 billion in assets for the Wisconsin Retirement System, revealed holdings of BlackRock's iShares Bitcoin Trust and a stake in the Grayscale Bitcoin Trust. The quarterly disclosures, known as 13-F filings, are made to the Securities and Exchange Commission around 45 days after the end of each quarter and may not reflect current positions.
"Institutions allocating to these funds are likely to have a longer time horizon," said Todd Sohn, an ETF analyst at Strategas. A greater preponderance of long-term investors should reduce the often-extreme volatility of bitcoin, other analysts say.