I think it's pretty bullish for the pension space. Many of which are struggling due to mismanagement and higher than forecasted expenditures.

89% of this group's AUM is for WRS, a public pension fund, and the other assets are for state operations and an SMA (I guess they invest on the behalf of private investors or other governments??). 

stackt0shi

, so this is basically investment group deciding that they'll make fiat money as a result of this, either due to dividends (not sure if ETFs offer them) or by selling when it goes up. So it's a sign of some short-term bullishness, maybe, but not from the government.

(Not trying to throw cold water on your find, just adding context.)

bitcoin

State of Wisconsin Buys Nearly $100M Worth of BlackRock Spot Bitcoin ETF

Gian

It's an [independently-run investment board for the state](https://www.swib.state.wi.us/), so this is basically investment group deciding that they'll make fiat money as a result of this, either due to dividends (not sure if ETFs offer them) or by selling when it goes up. So it's a sign of some short-term bullishness, maybe, but not from the government.

(Not trying to throw cold water on your find, just adding context.)