Wisconsin lawmakers have introduced bipartisan legislation that would exempt cryptocurrency users and businesses from state licensing requirements for fundamental blockchain activities. Assembly Bill 471 represents a significant regulatory shift, protecting crypto payments, node operations, and staking from state restrictions while creating a more welcoming environment for crypto-native businesses. The move comes amid competing legislative priorities in the state, including recent Bitcoin ETF liquidation and fraud-targeting measures.
about Wisconsin Bill Exempts Crypto Activities from LicensingState of Wisconsin Investment Board
0 in Finance and 0 in Crypto last weekInstitutional Bitcoin ETF Holdings Decline as Corporate BTC Reserves Rise
Q1 2025 13F filings revealed a decline in institutional holdings of spot Bitcoin ETFs, with hedge funds like Millennium Management and Brevan Howard reducing exposure. The collapse of the BTC futures basis trade, which had fueled early demand, contributed to the shift. However, long-term investors, including sovereign wealth funds and endowments, increased positions. Meanwhile, corporate Bitcoin reserves gained traction, with firms like Trump Media Group and GameStop opting for direct holdings over ETFs. Despite the pullback, Bitcoin ETF assets remain substantial at over $120 billion, though growth may slow as arbitrage-driven strategies fade. The next 13F cycle in July will provide further clarity on institutional trends.
about Institutional Bitcoin ETF Holdings Decline as Corporate BTC Reserves RiseBitcoin to Hit $500K by 2029 as Governments Boost Holdings
Standard Chartered predicts Bitcoin could reach $500,000 by early 2029, citing increased institutional and government interest. Analyst Geoff Kendrick notes that 12 government entities, including South Korea’s National Pension Service and the Swiss National Bank, boosted their holdings in Strategy—a firm owning 576,000 Bitcoin—reflecting widening structural demand. While spot ETFs saw mixed adoption, sovereign wealth funds like Abu Dhabi’s Mubadala expanded Bitcoin exposure. Kendrick ties the bullish outlook to potential regulatory shifts under Trump’s administration, including the repeal of SAB 121 and strategic Bitcoin reserves. 13F filings reveal U.S. state pension funds also increased Bitcoin-linked investments, reinforcing institutional confidence.
about Bitcoin to Hit $500K by 2029 as Governments Boost HoldingsCoinbase’s Turbulent Week: Hacks, SEC Probe, and S&P 500 Entry
Coinbase endured a chaotic week with a $400 million cybersecurity breach, where hackers bribed an overseas contractor to steal sensitive user data. Despite the breach affecting less than 1% of customers, the criminals demanded $20 million in blackmail, which Coinbase refused, instead offering a bounty for information. The company also faces an SEC probe over its user numbers, despite the regulator dropping a prior lawsuit. On a positive note, Coinbase joined the S&P 500 and saw its stock rise 18% by week’s end. Separately, eToro and Galaxy Digital debuted on the Nasdaq, with Galaxy Digital’s CEO criticizing the U.S. listing process as ‘unfair.’ Meanwhile, Basel Medical Group’s Bitcoin investment plans led to a 17% stock drop, and Wisconsin’s pension fund exited its $300 million Bitcoin ETF stake.
about Coinbase's Turbulent Week: Hacks, SEC Probe, and S&P 500 EntryWisconsin Dumps $300M Bitcoin ETF Amid Trade Tensions
The State of Wisconsin Investment Board (SWIB) liquidated its $300 million position in BlackRock’s iShares Bitcoin Trust (IBIT) in early 2025, according to an SEC filing. The sale occurred amid rising trade tensions, including sweeping U.S. tariffs on China and other nations, which triggered market instability. Bitcoin and Ethereum prices tumbled as trade fears intensified, with Bitcoin dropping below $75,000. The tariffs, part of President Trump’s aggressive trade policy, led to retaliatory measures from China, further unsettling markets. While tensions eased slightly in May with reduced tariffs, the crypto market remained volatile. The SEC filing confirms SWIB’s exit from Bitcoin ETF holdings before the March 31 reporting deadline.
about Wisconsin Dumps $300M Bitcoin ETF Amid Trade TensionsNorway’s $1.7T Fund Weighs Bitcoin Amid $40B Q1 Loss
Norges Bank, Norway’s $1.7 trillion sovereign wealth fund, reported a $40 billion loss in Q1 2025, primarily due to falling US tech stocks. The fund holds an indirect $356 million Bitcoin exposure through stocks like Coinbase and Riot Platforms, sparking debate over whether it should expand crypto investments as a hedge. While CEO Nicolai Tangen has ruled out direct Bitcoin ETF purchases, Abu Dhabi’s $437 million stake in BlackRock’s Bitcoin ETF highlights growing sovereign interest in crypto. The fund’s heavy reliance on equities (71.4% of assets) leaves it vulnerable to further market downturns, especially amid global trade tensions. Historical data suggests a 5% Bitcoin allocation in 2018 would have boosted returns by 56%, but regulatory constraints limit Norges Bank’s flexibility.
about Norway's $1.7T Fund Weighs Bitcoin Amid $40B Q1 LossBitcoin Price Target Raised to 500000 by Standard Chartered for 2028
Standard Chartered’s Geoffrey Kendrick projects Bitcoin could reach $500,000 by 2028, driven by increasing institutional interest, particularly from sovereign wealth and state pension funds. Notably, Abu Dhabi’s sovereign fund recently disclosed a position in BlackRock’s iShares Bitcoin Trust, signaling a strategic shift. Kendrick highlights that as institutional access improves and volatility decreases, more investors are likely to increase their Bitcoin allocations, enhancing its legitimacy as a store of value.
about Bitcoin Price Target Raised to 500000 by Standard Chartered for 2028Institutional Investors Increase Bitcoin ETF Holdings by 113 Percent in Q4
Institutional investors held $27 billion in Bitcoin ETF shares, representing over 25% of total assets under management (AUM) in the U.S. as of December 31. The institutional exposure to Bitcoin via ETFs surged 113% from Q3 to Q4, with the total AUM reaching $78.8 billion. Notably, BlackRock’s IBIT saw a fourfold increase in institutional interest, with $16 billion reported by the end of Q4.
about Institutional Investors Increase Bitcoin ETF Holdings by 113 Percent in Q4Mubadala Invests 461 Million Dollars in BlackRock Bitcoin ETF
Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, has invested USD 461.2 million in BlackRock’s Bitcoin ETF (IBIT), marking a significant entry into the cryptocurrency market for a major sovereign fund. With over USD 280 billion in assets, Mubadala is now the seventh-largest known investor in the fund, joining other sovereign wealth funds like Norway’s Norges Bank and Saudi Arabia’s Public Investment Fund in the crypto sector. Asset managers are also increasing their Bitcoin exposure, with notable investments from the State of Wisconsin Investment Board and hedge fund manager Paul Tudor Jones.
about Mubadala Invests 461 Million Dollars in BlackRock Bitcoin ETFUS States Invest 330 Million in Saylor’s Strategy Stock Holdings
Twelve US states collectively hold $330 million in Strategy stock, formerly MicroStrategy, with California’s teacher retirement fund leading at $83 million. Other significant holdings include Florida and Wisconsin, while Strategy remains the largest corporate Bitcoin holder with 478,740 coins valued at approximately $46 billion. The stock has surged 383% since early 2024, significantly outperforming the broader crypto market.
about US States Invest 330 Million in Saylor's Strategy Stock HoldingsStates Explore Legislation for Strategic Bitcoin Reserves and Investments
Nearly two dozen U.S. states are exploring legislation to establish strategic Bitcoin reserves, potentially acquiring around 247,000 BTC valued at approximately $23.7 billion. Motivations include using Bitcoin as an inflation hedge, diversifying investments, and capitalizing on its growth potential. States like Alabama, Arizona, and Florida are leading the charge, with various bills introduced to allow public funds to invest in Bitcoin and other digital assets.
about States Explore Legislation for Strategic Bitcoin Reserves and Investments