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First UK Pension Fund Invests in Bitcoin

British pension specialist Cartwright is urging institutional investors to allocate assets into bitcoin (BTC) and has successfully guided the country’s first pension fund to make an allocation into the token, industry magazine Corporate Advisor reported.
The unnamed fund last month allocated 3% of its £50 million ($65 million) into bitcoin following “lengthy consultations with the scheme’s trustees, where ESG, investment case and security were all addressed at length,” Glenn Cameron, head of digital assets at Cartwright told Corporate Advisor.
This investment is particularly notable as the pension fund actually is investing in the crypto itself, rather than, for instance, a proxy such as an ETF. The private key is split between five independent institutions, according to the report.