Experts believe that other states will soon follow suit and allocate a portion of their investment portfolios to BTC ETF for diversification.
Source: cryptoslate
Translation:
Experts believe that other states will soon follow suit and allocate a portion of their investment portfolios to BTC ETF.
Source: cryptoslate
Translation:
Experts believe that other states will soon follow suit and allocate a portion of their investment portfolios to BTC ETF.
Jersey City is the second largest city in New Jersey. On July 25, Jersey City Mayor Steven Fulop announced plans to allocate a portion of the city's pension fund to BTC ETF, marking an important step in incorporating crypto assets into the city's financial strategy.
Fulop posted on social media that the Jersey City pension fund is updating its filings with the U.S. Securities and Exchange Commission (SEC) to include BTC ETF.
Prior to this move, the Wisconsin state pension fund made a similar decision to allocate 2% of its $156 billion in assets to BTC ETF in the second quarter.
Fulop added, "The discussion about whether crypto assets or BTC will continue to be adopted has largely ended, and this decision will continue to move forward."
Since its launch, BTC ETF has shown impressive performance, with BlackRock's IBIT recently surpassing Nasdaq's QQQ in fund inflows this year.
Fulop, who has been the mayor of the city since 2013, emphasized that he has long been a supporter of crypto assets and blockchain technology.
Fulop highlighted the enormous potential of these innovative technologies and stated, "I have long believed in crypto assets, but more broadly, I do believe that blockchain is one of the most important new technological innovations since the internet."
Earlier this year, the SEC approved the listing and trading of spot BTC ETFs on U.S. exchanges, paving the way for public pension funds to consider such investments.
However, while more public entities are expected to follow suit in the third quarter, Jersey City and Wisconsin are still among the few public entities exploring this path.
Additionally, Fulop did not mention any plans to invest in other crypto assets or related assets, such as the Ethereum ETF that began trading earlier this week.
Although major financial institutions such as BlackRock and JPMorgan have limited involvement in BTC ETF, with a combined investment of less than $1 million, Fulop's decision indicates that people are increasingly accepting and recognizing the potential of digital assets.
As the city makes progress with the SEC's paperwork, the implementation of BTC ETF in the pension fund is expected to be completed by the end of summer. Fulop believes that this type of investment will become more common in the future.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
