The State of Wisconsin Investment Board's (SWIB) initial investment of $164 million in spot bitcoin exchange-traded funds (ETFs) like BlackRock's iShares Bitcoin Trust (IBIT) and Grayscale's Bitcoin Trust (GBTC) is likely just a trial phase, according to David Krause, a finance professor at Marquette University.[1][3] Krause believes the SWIB, known for being innovative, is testing public reaction and assessing potential resistance to owning bitcoin.[1][3] He expects the SWIB to increase its bitcoin ETF holdings, as the current investment is negligible at around 0.1% of its $156 billion portfolio.[3][5] Krause views this as a "toe in the water" approach, anticipating the SWIB to gradually raise its bitcoin exposure to 1-2% of its portfolio.[1][2]

Sources [1] Wisconsin Pension Plan Likely to Invest Much More in Bitcoin ETF, Marquette Professor Says https://www.coindesk.com/business/2024/06/03/wisconsin-pension-plan-likely-to-invest-much-more-in-bitcoin-etf-says-marquette-professor/ [2] BREAKING: Wisconsin Pension Plan Poised for Larger Bitcoin ETF ... https://cryptoadventure.com/breaking-wisconsin-pension-plan-poised-for-larger-bitcoin-etf-investment-can-it-propel-btc-price-to-new-ath/ [3] Wisconsin Pension Plan Likely to Invest Much More in Bitcoin ETF ... https://finance.yahoo.com/news/wisconsin-pension-plan-likely-invest-182335859.html [4] Wisconsin pension fund now includes bitcoin - WPR https://www.wpr.org/news/wisconsin-pension-fund-bitcoin [5] Wisconsin Pension Buys $160 Million in Bitcoin ETFs https://www.ai-cio.com/news/wisconsin-pension-buys-160-million-in-bitcoin-etf/ [6] David Krause on WRS investing millions into a Bitcoin ETF https://pbswisconsin.org/news-item/david-krause-on-wrs-investing-millions-into-a-bitcoin-etf/