UK Pension Fund Cartwright Discloses 3% Allocation To Bitcoin

Godfrey Benjamin
November 4, 2024 Updated November 14, 2024
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Highlights

  • Top UK pension Fund Cartwright just disclosed biggest Bitcoin allocation
  • Many Pension Funds are waking up to crypto bets
  • The Bitcoin adoption is also spreading to Ethereum-based products

There is an ongoing boost in the adoption of Bitcoin (BTC) with UK pension fund giant Cartwright now joining the league. With decades of experience at managing its client’s funds, the pension fund embracing Bitcoin is a major statement for the digital currency. The firm did not just adopt the coin, it is now rallying other institutional investors in the UK to do the same.

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The Cartwright Bitcoin Embrace

As reported by Corporate-Adviser, Cartwright has allocated around 3% to Bitcoin as direct investment. As the pension fund noted, this move stems from the demand from its clients for it to support emerging asset classes.

Bitcoin occupies a unique position in the new money revolution. The Cartwright said its Bitcoin embrace offers a “significant potential upside whilst limiting the potential downside.” The company said many investors in the UK are consistently looking for a new way to diversify their capital.

Notably, the firm’s leaders are now advising their competitors in the country to catch up with global counterparts. It is worth noting that Cartwright is putting its money where its mouth is. While the actual cash value of this BTC bet remains undisclosed, the firm said it pioneered this move in the UK.

Providing more context on the investment, Bitcoin writer Daniel Batten on X noted that the 3% allocation is 30x higher than the $163 million that Wisconsin Investment Board invested in the coin. Batten emphasized that the Cartwright Bitcoin investment is the largest of any Sovereign Wealth Fund in the world.

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Ethereum Catching Up

The launch of spot Bitcoin and Ethereum ETF products around the world has opened new avenues to embrace the assets. While many investment firms have exposure to BTC, Ethereum is catching up nicely.

Coingape reported earlier that the Michigan Pension Fund has disclosed its Ethereum ETF exposure. Per the update, the organization bought an $11 million worth of Ethereum ETF as disclosed in its 13-F Filing. As it revealed, the firm made this investment in the Grayscale Ethereum Trust and Grayscale Mini Trust ETFs respectively.

Many big banks are also getting into the Bitcoin and general crypto ETF game to compete with the best crypto exchanges in UK. While Bitcoin and Ethereum dominates the ETF front for now, XRP, Litecoin and Solana ETF products are also underway. With this, Cartwright might expand its bets in the future to include these alternative crypto ETF products.

 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.