In a Nov. 4 SEC filing, Michigan’s state pension fund disclosed holding 460,000 shares of the Grayscale Ethereum Trust and 460,000 shares of the asset manager’s Ethereum Mini Trust.
At the time of publication, the total value of the Bitcoin and Ether investments was roughly $18 million if Michigan maintained its holdings. The value of the 110,000 shares of the ARK 21Shares Bitcoin ETF held by the pension fund increased by roughly $1 million since being reported on June 30.