The State of Michigan Retirement System has tripled its Bitcoin ETF holdings by investing $11 million in the ARK 21Shares Bitcoin ETF (ARKB), reflecting growing institutional interest in cryptocurrencies. By the end of Q2 2025, the pension fund owned 300,000 ARKB shares, valued at approximately $10.737 million, with current trading boosting this to about $11.3 million. Additionally, the fund holds 460,000 shares of the Grayscale Ethereum Trust (ETHE) worth around $9.6 million, unchanged since September 2024. Michigan joins other state pension funds, like Wisconsin’s, which disclosed $321 million in Bitcoin exposure through various trusts. This trend follows the successful launch of Bitcoin ETFs, and as a result, US spot Bitcoin ETFs are experiencing strong inflows, with more than 1.292 million BTC valued at $146.5 billion held in these funds. The overall crypto market is seeing significant momentum, especially with Bitcoin's price surge exceeding $123,000, marking a historic moment for digital assets.

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