ETF analyst Balchunas: Other ‘big fish’ will buy Bitcoin too

The announcement that the pension fund of the state of Wisconsin in the US bought a $100 million Bitcoin spot ETF made a big noise yesterday, while Eric Balchunas, Bloomberg’s ETF analyst, was not indifferent to this situation and said, “Normally you don’t get these big fish institutions in the 13Fs for a year. Expect more, as institutions tend to move in herds.”

ETF analyst Balchunas: Other ‘big fish’ will buy Bitcoin too

The official pension fund of Wisconsin, one of the most important manufacturing states in the US, buying BlackRock’s IBIT Bitcoin ETF was the most important news of yesterday in the crypto world. The fact that Swiss bank UBS took a similar step, albeit with a small amount, clearly shows the interest of large institutions in Bitcoin.

Eric Balchunas: Good sign, expect more

Eric Balchunas, ETF analyst at Bloomberg, the famous US financial media company, also emphasized the importance of this move by the state of Wisconsin and made the following comment on his X account:

“A state pension bought IBIT in first quarter. Normally you don’t get these big fish institutions in the 13Fs for a year or so (when the ETF gets more liquidity) but as we’ve seen these are no ordinary launches. Good sign, expect more, as institutions tend to move in herds”

“These are baby steps”

Balchunas also responded to a follower who said, “What is 100 million dollars! It’s a very small number… Let Wisconsin be a man!” and said, ‘These are baby steps.’

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