The State of Wisconsin Investment Board has bought more Bitcoin exposure via shares in BlackRock's ETF, an SEC filing shows.

The ownership interest was held via Mubadala Investments, one of the country's sovereign wealth funds

The financial firm held about $1.3 billion of BlackRock’s Bitcoin ETF shares and $300 million of Fidelity’s. Exchange-traded funds let investors gain exposure to an asset with

In a recent 13F filing, Goldman Sachs disclosed increasing its Bitcoin holdings in the last quarter of 2024. The major growth of the BTC portion in the bank’s portfolio was immediately noticeable compared to the previous quarter.

The bank's clients are likely involved in the basis trade, rather than making a directional bet, said an analyst.

U.S. spot Bitcoin ETFs hold $111.78 billion in BTC or 5.92% of its market cap. Goldman Sachs holds $1.27 billion in BlackRock’s BTC ETF and