Steven Fulop, mayor of Jersey City, New Jersey, announced that the city’s pension fund will invest in the Bitcoin spot ETF. Stating that the relevant transactions with the US Securities and Exchange Commission (SEC) are ongoing, Fulop stated that he thinks the process will be completed by the end of August at the latest.

‘Bitcoin is no longer viewed with scepticism’

Stating that the doubts about the biggest cryptocurrency have now been resolved all over the world, Fulop used the following statements from the X account:

“The issue of whether Bitcoin will stay with us is now largely closed. Crypto and Bitcoin have won this race. I believed in Bitcoin in both price drops and rises. I have never lost my faith for a long time. Beyond cryptocurrencies, I believe that blockchain technology is the greatest invention after the internet.”

As it will be remembered, in the notifications to the SEC in May, it was revealed that the state of Wisconsin’s pension fund also bought BlackRock’s and Grayscale’s Bitcoin spot ETFs. The fund made purchases of $100 million from IBIT stock and $64 million from GBTC stock.

In addition to these 2 shares, the pension fund also invested in the shares of Bitcoin-focused companies such as Coinbase, Block, Marathon and RIOT.