Michigan state pension fund makes $6.6m investment in bitcoin ETF

Michigan state pension fund makes $6.6m investment in bitcoin ETF

FILE PHOTO: Representation of Bitcoin cryptocurrency is seen in this illustration taken January 11, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

The State of Michigan Retirement System, which oversees some $143.9 million in pension fund assets for state employees, has invested $6.6 million in the ARK 21Shares Bitcoin ETF, it disclosed in a regulatory filing on Friday.