The State of Michigan Retirement System (SMRS) has achieved a milestone by becoming the first state pension fund to invest in spot Ethereum ETFs.
This move marks a significant development in the cryptocurrency investment landscape, highlighting the growing institutional interest and adoption in Ethereum-related financial products.
Meanwhile, the spot Bitcoin ETFs are experiencing the second-highest level of outflows, indicating a shift in investor sentiment or strategy.
Simultaneously, the infamous Mt. Gox exchange has transferred $2.2 billion worth of Bitcoin, which may impact market dynamics, especially with the backdrop of the upcoming US election.
