British pension firm Cartwright has advised the allocation of 3% BTC to an unnamed pension fund, which has invested directly in the asset rather than via an exchange-traded fund.<\/p>\n
The company is now urging institutional investors to allocate assets into Bitcoin, according to a Nov. 4 report from industry magazine Corporate Advisor.<\/p>\n
As a percentage, this is thirty times higher than the Wisconsin Pension Fund\u2019s allocation and the largest allocation of any Sovereign Fund in the world so far, observed Bitcoin advocate Daniel Batten.<\/p>\n
BREAKING: Cartwright, a multi-billion dollar UK pension fund, just announced a 3% Bitcoin allocation<\/p>\n
As a percentage, this is 30x higher than the Wisconsin Pension fund\u2019s allocation, and the largest allocation of any Sovereign Fund in the world so farhttps:\/\/t.co\/84uz38dMgm<\/a><\/p>\n \u2014 Daniel Batten (@DSBatten) November 4, 2024<\/a><\/p>\n\n The pension specialist stressed that integrating Bitcoin into pension schemes is \u201ca bold step that reflects the forward-thinking nature of the trustees involved.\u201d<\/p>\n The allocated 3% of its assets under management into Bitcoin following \u201clengthy consultations with the scheme\u2019s trustees, where ESG, investment case, and security were all addressed at length,\u201d said Glenn Cameron, head of digital assets at Cartwright.<\/p>\n The investment uses direct Bitcoin custody, has a private key split between five independent institutions, and demonstrates an institutional-grade security approach.<\/p>\n Cartwright director of investment consulting Sam Roberts said<\/a> that investors and trustees are increasingly looking for innovative solutions to \u201cfuture-proof their schemes in the face of economic challenges\u201d before adding:<\/p>\n \u201cThis Bitcoin allocation is a strategic move that not only offers diversification but also taps into an asset class with a unique asymmetric risk-return profile.\u201d<\/p>\n He noted that the firm hopes the investment \u201cwill be the start of a trend for institutional investors in the UK to catch up.\u201d<\/p>\n Meanwhile, Cartwright\u2019s head of investment implementation, Steve Robinson, added that by using a custodial solution with a mechanism to trim profits quickly, \u201cwe\u2019ve opened the door for risk-averse pension schemes and other institutional investors to benefit from Bitcoin\u2019s potential growth whilst managing volatility within a secure strategic framework.\u201d<\/p>\n In late October, Florida chief financial officer Jimmy Patronis said<\/a> he wanted the agency that manages the state\u2019s retirement funds to consider including in Bitcoin.<\/p>\n Patronis sent a formal request to Chris Spencer, the Executive Director of Florida\u2019s State Board of Administration, asking for an assessment of the feasibility of integrating Bitcoin investments into the state\u2019s public funds.<\/p>\n In May, the State of Wisconsin Investment Board reported it had invested $164 million in spot Bitcoin exchange-traded funds, increasing<\/a> those holdings in August. In July, the State of Michigan Retirement System also disclosed<\/a> BTC ETF investments.<\/p>\n The post British Pension Firm Makes First Direct Allocation to Bitcoin<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" British pension firm Cartwright has advised the allocation of 3% BTC to an unnamed pension fund, which has invested directly in the asset rather than via an exchange-traded fund. The company is now urging institutional investors to allocate assets into Bitcoin, according to a Nov. 4 report from industry magazine Corporate Advisor. As a percentage, […]<\/p>\n","protected":false},"author":0,"featured_media":17915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17914"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17914"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17915"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BTC in UK Pension Funds<\/h2>\n
Bitcoin Pension Push in the US<\/h2>\n