Key Takeaways:
- Michigan’s state pension fund increased its ARK 21Shares Bitcoin ETF holdings to $11.3M, nearly tripling its previous stake.
- The fund also holds $9.6M in Grayscale Ethereum Trust shares, unchanged since September 2024.
- U.S. spot Bitcoin ETFs now collectively hold 1.292M BTC worth $146.5B, amid rising institutional adoption.
The State of Michigan Retirement System has nearly tripled its exposure to Bitcoin by expanding its holdings in the ARK 21Shares Bitcoin ETF (ARKB).
As of Q2 2025, the fund holds 300,000 shares, valued at approximately $11.3 million, up from 110,000 shares the previous year.
BREAKING: MICHIGAN'S STATE PENSION FUND JUST ANNOUNCED THAT THEY BOUGHT $10.7 MILLION WORTH OF #BITCOIN
— The Bitcoin Historian (@pete_rizzo_) August 5, 2025
AMERICA IS BUYING BTC. HUGE 🔥 pic.twitter.com/hwwuclZARR
ARKB is one of 11 spot Bitcoin ETFs approved by the SEC in January 2024, offering direct exposure to Bitcoin through traditional markets.
Michigan also disclosed 460,000 shares of the Grayscale Ethereum Trust (ETHE), worth $9.6 million, unchanged since September 2024.
This move reflects a broader trend, with the State of Wisconsin Investment Board earlier revealing a $321 million Bitcoin position via BlackRock’s IBIT and Grayscale’s GBTC.
The disclosure comes as reports suggest President Donald Trump is considering an executive order to permit retirement accounts to invest in crypto assets.
Meanwhile, U.S. Bitcoin ETFs have seen $1 billion+ daily inflows, holding over 1.292 million BTC worth nearly $146.5 billion.
Ether ETFs are also gaining momentum – BlackRock’s iShares Ethereum ETF recently surpassed $10 billion AUM, helping ETH prices double since May.
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