Crypto Daily – Jersey City has announced that its municipal pension plan will invest in (BTC) through spot Bitcoin ETFs, in what is being called a symbolic moment for the cryptocurrency industry as it considers wider adoption.
Jersey City’s announcement comes after a similar announcement by the state of Wisconsin, which purchased nearly $100 million worth of BlackRock’s spot Bitcoin ETF.
Jersey City’s Spot Bitcoin ETF Plans
The decision to allocate a percentage of the city’s pension fund to purchase Bitcoin ETFs was announced in a post by the city’s mayor, Steven Fulop. In the post, Fulop outlined his support for cryptocurrencies, particularly Bitcoin.
“The question on whether Crypto/Bitcoin is here to stay is largely over + crypto/Bitcoin won. The #JerseyCity pension fund is in the process of updating paperwork to the SEC to allocate % of the fund to Bitcoin ETFs, similar to what the Wisconsin Pension Fund has done (2%). It Will be…
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