SEC filings reveal Michigan’s state retirement system doubled its ARK 21Shares Bitcoin ETF position to 300,000 shares and maintains Grayscale Ethereum Trust holdings, reflecting a cautiously optimistic outlook on Bitcoin’s future value with minimal allocation relative to $79 billion AUM.
The State of Michigan Retirement System (SMRS) increased its ARK Bitcoin ETF (ARKB) holdings from 110,000 to 300,000 shares, as per its latest SEC 13F filing. Valued at approximately $11.3 million with ARKB priced at $37.79 per share and Bitcoin around $114,000, this position represents 0.03% of the fund's $79 billion AUM. The fund also maintained 460,000 shares of the Grayscale Ethereum Trust (ETHE) valued at about $9.6 million, indicating a cautiously optimistic stance on Bitcoin’s future value.