Key Takeaways:
- An unnamed UK pension fund allocated 3% of its assets to Bitcoin, following a thorough due diligence process led by Cartwright.
- Cartwright emphasized Bitcoin’s potential to reduce pension funds’ dependence on employer contributions, supported by a long investment horizon.
- This move aligns with a growing trend of pension funds globally exploring crypto investments amid evolving regulatory environments.
A UK pension fund recently allocated 3% of its assets to Bitcoin, according to pension consultancy Cartwright, marking a notable shift in traditional investment strategies.
Announced on November 4, the decision came after a detailed training and due diligence process, with the fund’s “long investment time horizon” as a guiding factor.
JUST IN: 🇬🇧 UK pension advisor Cartwright advises first 3% #Bitcoin allocation worth $59 million to a pension portfolio 🚀 pic.twitter.com/je79aVSfWq
— Bitcoin Magazine (@BitcoinMagazine) November 4, 2024
Steve Robinson, Cartwright’s head of investment implementation, noted that the crypto allocation could help reduce reliance on employer contributions.
The fund’s identity and exact investment remain undisclosed.
This move reflects a broader trend of pension funds exploring cryptocurrency.
In the UK, Legal & General is considering tokenized investments, while South Korea’s national pension fund and Michigan’s State Retirement System in the US already have Bitcoin holdings.
In the UK, the Labour party’s recent election win shifts the political landscape, but the Financial Conduct Authority (FCA) continues to regulate digital assets.
This regulatory focus underscores the growing acceptance of cryptocurrency within traditional financial structures.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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