Jersey City Plans to Add Bitcoin ETFs to its Pension Portfolio
Jersey City Dives Into bitcoin ETFs for Pension Fund Growth Jersey City is stepping into the future of municipal finance by making a bold move: it plans to allocate a portion of its pension funds into bitcoin exchange-traded funds (ETFs) This decision ushers in a new era for how cities manage and diversify their investment portfolios, showcasing a strong belief in the longevity and impact of cryptocurrency and blockchain technology Embracing Blockchain Innovation At the helm of this progressive strategy is Mayor Steven Fulop, who recently detailed Jersey City's plans to amend its SEC documentation to incorporate bitcoin ETFs into its pension fund investments This initiative not only marks Jersey City as a pioneer in municipal investment strategies but also reflects a significant endorsement of cryptocurrency's place in the modern financial landscape Following the footsteps of the Wisconsin Pension IC, which earlier set a precedent by allocating 2% of its massive $156 billion in assets to bitcoin ETFs, Jersey City's move signals growing institutional trust in digital currencies...
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