Financial Times: Several pension funds in the UK and Australia have recently made small allocations to Bitcoin

According to the Financial Times, pension funds are trying to buy Bitcoin. Pension funds in Wisconsin and Michigan have become one of the largest holders of US stock market funds focused on cryptocurrencies, while some pension fund management agencies in the UK and Australia have also made small allocations to Bitcoin through funds or derivatives in recent months. As of the end of September, the Wisconsin Investment Board became the 12th largest holder of BlackRock's Bitcoin ETF, with its shares worth about $155 million. Michigan is the sixth-largest holder of Grayscale Ethereum ETF with a share value of $12.9 million and is also the 11th largest holder of ARK 21Shares Bitcoin ETF.

Since Election Day in America, Mercer, a British pension fund consulting firm has received numerous inquiries as trustees do not want to be ignorant about popular asset classes. Most pension funds have turned towards regulated US spot bitcoin or ethereum ETFs approved last year. In Britain, Cartwright Group has facilitated its first bitcoin transaction where an undisclosed small-scale retirement plan directly invested approximately £1.5 million into bitcoin hoping for excess returns to fill funding gaps. Meanwhile, over 50 individual savers wish to transfer their entire pensions into cryptocurrency; Cartwright is discussing setting up a bitcoin fund with two multi-employer pension schemes.

AMP Capital Investors Ltd., an Australian retirement fund management company is also using bitcoins for higher returns; Steve Flegg AMP’s senior portfolio manager stated that despite high risks associated with cryptocurrencies due to their novelty they cannot be ignored because they offer potential scale hence AMP portfolios moderately allocated towards bitcoin futures investments.
However allocation towards bitcoins and other cryptocurrencies remains minority within retirement industry as most advisors are reluctant suggesting clients venture into cryptocurrency space.