British pension specialist Cartwright has guided the first U.K. pension fund to invest directly in bitcoin, allocating 3% of its £50 million ($65 million) in assets into the cryptocurrency. This decision, which comes after extensive discussions with the fund's trustees about environmental, social, and governance (ESG) factors along with investment security, marks a significant milestone, as the investment is made directly in bitcoin rather than through ETFs. The private key associated with the bitcoin investment is distributed among five independent institutions to enhance security. Cartwright is also introducing a Bitcoin Employee Benefits scheme aimed at enabling employers to pay their employees in bitcoin, with five companies expressing interest in the initiative. This move stands in contrast to the practice of U.S. state pension plans, which have typically allocated a smaller percentage (around 0.1%) of assets to bitcoin.

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