Bitcoin has been added to a British pension fund, becoming the first of its kind in the UK. Cartwright, a notable pensions advisory firm announced yesterday (November 4) that it had advised an unnamed client in the UK to allocate 3% of its pension scheme to Bitcoin.
The firm said in a press release that the allocation took place in October after a rigorous training and due diligence process. It went on to say that the recommendation was made due to Bitcoin’s historical gains over the past 15 years. In just the last 11 years alone, the leading digital asset has risen in price by nearly 100,000%, per CoinGecko.
( COINGECKO )
Cartwright Hoping That This Allocation Of Bitcoin Into A UK Pension Fund Will Spark Wider Adoption For The Nation
Sam Roberts, Director of Investment Consulting at Cartwright, commented: “Our approach ensures that schemes can benefit from the significant potential upside whilst limiting the potential downside. Integrating Bitcoin into a pension scheme’s investment strategy is a bold step reflecting the trustees’ forward-thinking nature.
He went on to say, “We are proud to have led this ground-breaking move, which we hope will be the start of a trend for institutional investors in the UK to catch up with their increasing number of peers and competitors around the world who are already taking advantage of Bitcoin’s unique attributes.”
Cartwright said it anticipates an influx of institutional adoption of Bitcoin, similar to when pension schemes began purchasing equities back in the 1970s and high-yield bonds in the 1980s. It may take some time for institutional investors to get comfortable with the idea of Bitcoin. However, there will likely come a point where it becomes risky from a reputation standpoint not to have considered Bitcoin as a natural part of any optimal portfolio.
JUST IN: 🇬🇧 The first UK pension scheme to invest in #Bitcoin has made a 3% allocation, says Cartwright pension advisors
Cartwright advises dozens of pension funds in the U.K. pic.twitter.com/nlGwtyYBvh
— Bitcoin Archive (@BTC_Archive) November 4, 2024
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The US Paved The Way For Institutional Adoption Of Bitcoin Following Approval Of Bitcoin ETFs Back In January
While Cartwright’s announcement is the largest institutional adoption of Bitcoin from the UK, it has seen immense growth around the world, particularly in the U.S. Since January 2024, there are now active Bitcoin and Ethereum exchange-traded funds (ETFs).
The funds allow investors to buy exposure to the cryptocurrency via stock-like shares that trade on regulated exchanges. This explosion of crypto ETFs is being led by BlackRock, the world’s largest investment company. BlackRock, led by Larry Fink, has over $11 trillion in assets under management (AUM).
BITCOIN SPOT ETF SEES $541M NET OUTFLOWS ON NOV. 4, SECOND-LARGEST IN HISTORY
– Bitcoin spot ETFs saw a massive shake-up on November 4, as net outflows hit $541 million, the second-largest single-day outflow on record, per @SoSoValueCrypto data.
– This comes following last… https://t.co/p97BMdXEYb pic.twitter.com/cIbQnq9Lby
— BSCN (@BSCNews) November 5, 2024
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