U.S. state with strong auto industry quietly adds Bitcoin to its state pension funds

U.S. state with strong auto industry quietly adds Bitcoin to its state pension funds originally appeared on TheStreet.

On Aug. 5, Michigan’s state pension fund reported owning $10.7 million worth of 300,000 ARK 21Shares Bitcoin exchange-traded fund (Nasdaq: ARKB) shares as of June 30.

As per the latest 13F-HR filing with the SEC, it marks an extraordinary jump from the 100,000 shares the State of Michigan Retirement System reported owning as of March 31.

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Learn More Powered by Money.com - Yahoo may earn commission from the links above. ARKB is a spot Bitcoin ETF that tracks the spot price of BTC and provides regulated crypto exposure to investors. While Cathie Wood’s ARK Invest is the sub-adviser of the fund, 21Shares is its sponsor.

ARKB was trading at $37.47 at the time of writing, down 1.73% a day. However, its value rose more than 20% since Jan. 1 and more than 110% over the last year.

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As reported earlier, even President Donald Trump has been considering to opening up the $9 trillion U.S. retirement market to alternative assets, including cryptocurrencies Asset managers have long lobbied for access to 401(k) funds and are already striking deals with major retirement plan providers.

Among the states, Michigan isn’t the only one whose pension fund owns crypto-linked holdings.

The State of Wisconsin Investment Board earlier revealed owning Coinbase Global (Nasdaq: COIN) stock, worth $24.5 million at the time of reporting, at the end of the first quarter in 2025. However, it divested of its BlackRock’s (NYSE: BLK) spot Bitcoin ETF holdings worth $321 million.

Bitcoin was trading at $113,125.95 at the time of writing, down 1.64% in the last 24 hours.

U.S. state with strong auto industry quietly adds Bitcoin to its state pension funds first appeared on TheStreet on Aug 5, 2025

This story was originally reported by TheStreet on Aug 5, 2025, where it first appeared.

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