UK Pension Fund Makes History with Groundbreaking Bitcoin Investment

pension fund invests in Bitcoin for the first time” loading=”lazy” class=”w-full”/>

• British pension advisor cartlight has led the asset asset to bitcoin by the country’s first pension fund.
• Anonymous funds invested 3%of total assets directly in bitcoin. No alternative means such as ETFs were used.
• Cartwright is also launching a Bitcoin employee benefits plan, which will allow employers to pay Bitcoin directly into employees’ wallets.

British pension advisor Cartwright is encouraging institutional investors to allocate assets to Bitcoin (BTC), becoming the country’s first pension fund to invest in Bitcoin (BTC), according to a report in industry publication Corporate Advisor. succeeded in guiding asset allocation.

Glenn Cameron, head of digital assets at Cartwright, told Corporate Advisors that an unnamed fund last month accounted for three of its £50 million (approximately 9.75 billion yen, equivalent to 195 yen per pound) in assets. He said that the %was allocated to bitcoin. This comes after “long discussions with the scheme’s trustees, in which environmental, social and governance (ESG), investment case and security issues were all addressed in detail”.

This investment is particularly noteworthy because the pension fund is investing in crypto assets (virtual currencies) themselves, rather than in alternatives such as ETFs, for example. According to reports, the private key is divided among five independent institutions.

The relative size of the investments is also worth noting. For example, a state pension fund in Wisconsin made headlines a few months ago as the first state pension fund in America to invest in Bitcoin through a physical ETF. However, that investment amounted to only about 0.1% of the fund’s assets. This time the UK pension fund’s investment is a much larger 3% of its assets.

Cartwright is also launching a Bitcoin employee benefits plan. This will allow employers to pay Bitcoin into wallets created for their employees. Currently, five companies have expressed interest in the product, Cartwright said.

The amount of assets that Cartrite is currently advising is unknown. According to Linkedin, the company has 51 to 200 employees and is based in Hampshire, England.

｜Translation and editing: Rinan Hayashi
｜Image: Camomile Shumba/CoinDesk
｜Original text:First UK Pension Fund Invests in Bitcoin