Spot Bitcoin ETFs, approved in 2024, were seen as a turning point for the cryptocurrency industry. While there has been significant institutional investment in spot Bitcoin ETFs, interest continues to grow.
While the world’s giants continue to invest in Bitcoin ETFs, news also came from Europe.
The Luxembourg Sovereign Wealth Fund (FSIL) has invested 1% of its assets in Bitcoin ETFs, becoming the first sovereign wealth fund in the Eurozone to do so, Coindesk reported.
At this point, the Luxembourg sovereign wealth fund became the first instance in which a national-level sovereign wealth fund in a European Union (EU) member state officially invested in Bitcoin.
“This decision strengthens Luxembourg’s leadership in digital finance and ensures the recognition of Bitcoin as a mature asset class. The 1% allocation is conservative but sends a clear signal to the market about Bitcoin’s long-term potential. Given the nature of the FSIL, it was the most balanced choice,” said Jonathan Westhead, spokesman for Luxembourg’s financial authority.
The investment follows a legal change that allows Luxembourg sovereign wealth fund Fonds Souverain Intergénérationnel du Luxembourg (FSIL) to allocate up to 15% of its assets under management to alternative investments, including cryptocurrencies.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/a-first-in-europe-a-state-fund-announces-investment-in-bitcoin/