The State of Michigan Retirement System is diversifying its investment portfolio by increasing its exposure to cryptocurrencies through the acquisition of Ether-based exchange-traded funds (ETFs).
According to an SEC filing, the pension fund now holds 460,000 shares in both the Grayscale Ethereum Trust and the Grayscale Ethereum Mini Trust.
This marks a significant shift in investment strategy as traditional institutions continue to recognize the potential of cryptocurrency assets.
As of September 30, the pension fund's crypto holdings signify a growing trend among pension funds to seek alternative investments for higher returns.
