The Michigan State Retirement System has expanded its investment portfolio by adding Ether exchange-traded funds (ETFs) while maintaining its investment in Bitcoin ETFs. According to a SEC filing dated November 4, the pension fund reported holding 460,000 shares each of the Grayscale Ethereum Trust and the Ethereum Mini Trust. This addition brings the total value of its cryptocurrency investments to approximately $18 million, given that it also holds 110,000 shares of the ARK 21Shares Bitcoin ETF. Notably, the value of this Bitcoin ETF investment has increased by around $1 million since June 30. The ARK 21Shares Bitcoin ETF was among the first to receive SEC approval for trading on U.S. exchanges in January. This strategy aligns with a growing trend of government entities and pension funds exploring cryptocurrency investments.

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