- Jersey City’s pension fund is finalizing SEC paperwork to invest in Bitcoin ETFs, aiming for a 2% allocation similar to Wisconsin’s.
- Mayor Steven Fulop supports this move, emphasizing that crypto is here to stay and blockchain technology is a significant innovation.
Starting with tokenizing jerseys on VeChain for enhanced fan engagement that we highlighted earlier, leveraging the VeChain blockchain in the Jersey City club ensures seamless interaction and rewards for fans, ushering in a new era of fan engagement dubbed Experience 3.0.
Beyond that, the Jersey City pension fund is currently updating its paperwork with the SEC to allocate a percentage of the fund to Bitcoin ETFs, similar to the 2% allocation made by the Wisconsin Pension Fund.
In a CNF YouTube video, it is also highlighted that the world’s largest Bitcoin conference is opening in Nashville, while the Jersey City pension fund is finalizing SEC paperwork to invest in Bitcoin ETFs, following Wisconsin’s lead with a 2% allocation.
As this development emerges, Steven Fulop, Mayor of Jersey City, shared in a recent tweet, which is an unusual topic for him, stating that while this isn’t his typical subject matter, he wanted to address it. He implored that the question of whether crypto/Bitcoin is here to stay is largely settled, and that crypto/Bitcoin has emerged victorious.
Furthermore, he said that this process is expected to be completed by the end of the summer, and it is anticipated that such allocations will become more common in the future. As a long-time believer in crypto, despite its ups and downs, he also believes that blockchain technology is among the most significant innovations since the internet.
Aiming to seek SEC approval for Bitcoin ETF investment, Jersey City’s US Pension Fund could potentially attract investors. As of now, according to CoinMarketCap data, Bitcoin (BTC) is trading at a price of $67,272.56 surged by 4.88% in the past day and 4.96% in the past week. See BTC price chart below.
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