UK-based pension scheme makes 3% Bitcoin allocation
Cartwright reported that a “unnamed scheme” in the UK had allocated 3% of its pension money to Bitcoin. Cartwright, a pension specialist headquartered in the United Kingdom, said that a “unnamed scheme” has allocated 3% of its pension funds to Bitcoin.
According to a Nov. 4 announcement, Cartwright said that “after a rigorous training and due diligence process,” a UK pension fund elected to allocate Bitcoin BTC $68,390, noting its “long investment time horizon.”
Steve Robinson, the firm’s head of investment implementation, stated that the cryptocurrency investment will assist “reduce reliance on employer contribution.”
The corporation did not disclose any additional information regarding the pension system or how much will be invested. Cointelegraph contacted Cartwright for comment but did not receive a response at the time of publication.
Are pension funds moving into crypto?
In 2024, many municipal and federal governments began investing in cryptocurrency for pension funds. In the United Kingdom, Legal and General, a pension and investment firm with $1.5 trillion in assets under management, said in October that it was considering introducing tokenised funds.
South Korea’s pension agency revealed over $34 million in exposure to MicroStrategy, which is significantly invested in Bitcoin. As of September 30, the State of Michigan Retirement System had around $18 million worth of Bitcoin and Ether ETH $2,425.40 exchange-traded products.The UK government shifted hands following a July election in which the Conservatives lost power to Labour for the first time in 14 years.
Before the UK election, some analysts predicted that digital asset regulation would not be a top priority for the new administration, which just announced its proposed budget in November. The Financial Conduct Authority in the United Kingdom essentially serves as the country’s financial watchdog, taking enforcement action against cryptocurrency firms as appropriate.
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