search
Homeweb3.0Michigan State Pension Fund Makes a Notable Shift, Invests $10M in Grayscale's Ethereum ETFs ETHE
Michigan State Pension Fund Makes a Notable Shift, Invests $10M in Grayscale's Ethereum ETFs ETHENov 05, 2024 am 07:32 AM
Michigan pension fund Ethereum ETFs Bitcoin Holdings

The Michigan State Pension Fund has invested $10 million in Grayscale's Ethereum ETFs ETHE, making it one of the top holders of the product.

Michigan State Pension Fund Makes a Notable Shift, Invests M in Grayscale's Ethereum ETFs ETHE

The Michigan State Pension Fund has disclosed an investment of $10 million in Grayscale's Ethereum ETFs (NYSE:ETHE), emerging as one of the largest holders of the product, according to an SEC filing. This move marks a significant shift from Michigan's earlier $7 million allocation in Bitcoin (NYSE:BTC) ETFs.

Meanwhile, digital asset investment products saw substantial inflows of $2.2 billion last week, pushing year-to-date inflows to a record $29.2 billion, CoinShares reported on Monday.

This surge coincides with increasing market anticipation of a potential Republican win in the U.S. presidential election. The spike has pushed the total assets under management (AuM) in digital assets to over $100 billion, levels last seen only in early June 2024.

Bitcoin was the primary beneficiary, securing $2.2 billion of the weekly inflows, and $8.9 million went into short-Bitcoin products.

In comparison, Ethereum (NYSE:ETH) saw comparatively modest inflows of $9.5 million, signaling more measured interest among investors.

Solana (NYSE:SOL) also gained traction, drawing in $5.7 million in inflows, while other altcoins such as Polkadot (NYSE:DOT) and Arbitrum (NYSE:ARB) recorded smaller amounts.

On a regional basis, the U.S. led with $2.2 billion in inflows, highlighting the link between domestic political sentiment and investment behavior. CoinShares noted that while initial enthusiasm drove the surge, minor outflows occurred on Friday as polls indicated potential shifts in the election’s outcome. This sensitivity points to the broader influence of U.S. political developments on the cryptocurrency market.

The implications of these institutional investment patterns and their potential impact on digital asset markets will be a focal discussion at Benzinga's Future of Digital Assets event on Nov. 19.

The above is the detailed content of Michigan State Pension Fund Makes a Notable Shift, Invests $10M in Grayscale's Ethereum ETFs ETHE. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
BlockDAG (BDAG) Stuns the Crypto World with a Game-Changing Partnership with Italian Soccer Titan Inter MilanBlockDAG (BDAG) Stuns the Crypto World with a Game-Changing Partnership with Italian Soccer Titan Inter MilanSep 12, 2024 pm 03:08 PM

BlockDAG stands as a titan in the Layer 1 blockchain arena, having cultivated an impressive community of over 160,000 holders spanning 30 countries.

Michael Saylor Forecasts Bitcoin Could Reach $13 Million per Coin by 2045Michael Saylor Forecasts Bitcoin Could Reach $13 Million per Coin by 2045Jul 27, 2024 pm 09:34 PM

Hash ribbons indicator signals a buy, suggesting further positive price movement for Bitcoin. Ethereum ETFs launch sparks buying interest

BlockDAG Steals the Spotlight with a $65M Presale, CEO Antony Turner Calls it "Bitcoin on Steroids"BlockDAG Steals the Spotlight with a $65M Presale, CEO Antony Turner Calls it "Bitcoin on Steroids"Aug 11, 2024 am 06:26 AM

Recently, Stacks (STX) has grabbed headlines with its price climbing beyond $1.80. The volatility of the market, however, keeps investors on their toes

Michigan Retirement System Discloses $6.6M Investment in ARKB Spot Bitcoin ETFMichigan Retirement System Discloses $6.6M Investment in ARKB Spot Bitcoin ETFJul 27, 2024 am 09:17 AM

The State of Michigan Retirement System has disclosed an investment of $6.6 million in ARKB, the spot Bitcoin exchange-traded fund by 21Shares.

Michigan State Pension Fund Makes a Notable Shift, Invests $10M in Grayscale's Ethereum ETFs ETHEMichigan State Pension Fund Makes a Notable Shift, Invests $10M in Grayscale's Ethereum ETFs ETHENov 05, 2024 am 07:32 AM

The Michigan State Pension Fund has invested $10 million in Grayscale's Ethereum ETFs ETHE, making it one of the top holders of the product.

Michigan Retirement System Adds Bitcoin to Its Holdings, Joining Growing Trend Among Pension FundsMichigan Retirement System Adds Bitcoin to Its Holdings, Joining Growing Trend Among Pension FundsJul 27, 2024 am 07:23 AM

The State of Michigan Retirement System holds 110,000 shares in ARK 21Shares Bitcoin ETF (ARKB), which amounts to roughly $6.6 million

MicroStrategy, a Prominent Bitcoin Holder, Faces Scrutiny Regarding Its Cash Flows Ahead of Its Earnings ReportMicroStrategy, a Prominent Bitcoin Holder, Faces Scrutiny Regarding Its Cash Flows Ahead of Its Earnings ReportAug 02, 2024 am 03:23 AM

On July 31, Michael Saylor, a prominent Bitcoin advocate, announced that the company would release its earnings on Aug. 1 after market close and host a live webinar to discuss the results.

Bitcoin ETFs See $39M Inflows, While Ethereum ETFs Witness $20M Outflows, Expressing Contrasting Market DevelopmentsBitcoin ETFs See $39M Inflows, While Ethereum ETFs Witness $20M Outflows, Expressing Contrasting Market DevelopmentsSep 13, 2024 pm 09:07 PM

The US crypto ETF market witnessed another shift in terms of flows on the 12th of September. As per a well-known on-chain analytics company Spot On Chain

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

AI Hentai Generator

AI Hentai Generator

Generate AI Hentai for free.

Hot Article

Repo: How To Revive Teammates
1 months agoBy尊渡假赌尊渡假赌尊渡假赌
R.E.P.O. Energy Crystals Explained and What They Do (Yellow Crystal)
2 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
Hello Kitty Island Adventure: How To Get Giant Seeds
1 months agoBy尊渡假赌尊渡假赌尊渡假赌

Hot Tools

SublimeText3 English version

SublimeText3 English version

Recommended: Win version, supports code prompts!

Safe Exam Browser

Safe Exam Browser

Safe Exam Browser is a secure browser environment for taking online exams securely. This software turns any computer into a secure workstation. It controls access to any utility and prevents students from using unauthorized resources.

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

DVWA

DVWA

Damn Vulnerable Web App (DVWA) is a PHP/MySQL web application that is very vulnerable. Its main goals are to be an aid for security professionals to test their skills and tools in a legal environment, to help web developers better understand the process of securing web applications, and to help teachers/students teach/learn in a classroom environment Web application security. The goal of DVWA is to practice some of the most common web vulnerabilities through a simple and straightforward interface, with varying degrees of difficulty. Please note that this software

mPDF

mPDF

mPDF is a PHP library that can generate PDF files from UTF-8 encoded HTML. The original author, Ian Back, wrote mPDF to output PDF files "on the fly" from his website and handle different languages. It is slower than original scripts like HTML2FPDF and produces larger files when using Unicode fonts, but supports CSS styles etc. and has a lot of enhancements. Supports almost all languages, including RTL (Arabic and Hebrew) and CJK (Chinese, Japanese and Korean). Supports nested block-level elements (such as P, DIV),