NiftyNoon: Jeets Out, Chads In - Wisconsin Exits BTC as Abu Dhabi Buys More 🧀🥊🇦🇪
Wisconsin's state fund dumps its entire Bitcoin ETF stash as the Abu Dhabi sovereign wealth fund loads up on more (May 16, 2025)
Nifty Thought:
In a surprising move that caught market watchers off guard, the State of Wisconsin Investment Board (SWIB) completely liquidated its significant holdings in BlackRock's iShares Bitcoin Trust (IBIT) during the first quarter of 2025, as revealed in its May 15th SEC filing. This is particularly notable as SWIB was an early state-level adopter, having initially invested $164 million into Bitcoin ETFs when they launched in Q1 2024; the sold IBIT shares were valued at approximately $355.6 million. The full divestment comes just one quarter after SWIB had consolidated previous Grayscale investments into IBIT and even added to its position, making the quick reversal a point of keen interest, even though the holdings represented a relatively small 0.2% of its $166 billion total assets.
While SWIB cashed out, other large players showed continued conviction, with Abu Dhabi's sovereign wealth fund Mubadala increasing its IBIT stake in Q1 to a total worth around $512 million. BlackRock's IBIT itself continues to see massive success, with net inflows recently surpassing $45 billion. This divergence aligns with commentary from Coinbase Institutional's John D’Agostino, who noted that sovereign wealth funds and other institutions were actively accumulating Bitcoin through April 2025, viewing it as an inflationary hedge akin to gold and a non-sovereign store of value amidst macro uncertainty, sometimes even as retail sentiment fluctuated. Despite SWIB's exit, the broader trend of institutional and corporate adoption of Bitcoin as a reserve asset appears ongoing.
Highlighted News:
🧀 State of Wisconsin Investment Board sold their Bitcoin ETF shares:
https://x.com/Julian__Fahrer/status/1923107665875480877
🇦🇪 In a 13F filed today, Mubadala, the Abu Dhabi sovereign wealth fund, disclosed owning 8,726,972 shares of IBIT as of March 31, valued at $408.5 million:
https://x.com/MacroScope17/status/1923095726869053471
🟠 14 US states have reported $632m in $MSTR exposure for Q1, in public retirement and treasury funds:
https://x.com/Julian__Fahrer/status/1923128370956730717
🦹♂️ Cyber criminals bribed and recruited rogue overseas support agents to pull personal data on <1% of Coinbase MTUs:
https://x.com/coinbase/status/1922967576209998133?s=46
🧾 FTX today announced it is set to distribute more than $5 billion in its Second Distribution to holders of allowed claims in the Plan’s Convenience and Non-Convenience Classes that have completed the pre-distribution requirements on May 30, 2025:
https://x.com/FTX_Official/status/1923068830433120546
💻 Seems pretty clear that Frank DeGods got drained:
https://x.com/beausecurity/status/1923051367872024946?s=46
Project and Community News:
Tether Announces QVAC, Its Upcoming Development Platform for Infinite and Ubiquitous Intelligence: https://x.com/qvac_tether/status/1922655644546474133?s=46
DeFi Dev Corp. has purchased another 16,447 $SOL as part of their crypto-forward treasury strategy: https://x.com/defidevcorp/status/1922987123323568400?s=46
PPI huge miss: https://x.com/zerohedge/status/1922993474393051348
MoonPay and @Mastercard have joined forces to enable stablecoin payments and spending at 150 million global businesses: https://x.com/moonpay/status/1922970220773126469?s=46
Solana went from nothing to EVERYTHING - From 0.3% to 50% of all App Revenue. For every $100 app revenue in crypto, $50 is captured by Solana Apps: https://x.com/0xGumshoe/status/1922622925812723933
NFTfi Earn Season 5 Extended: https://x.com/nftfi/status/1923047294804558266?s=46
Welcome @PupsToken to spread world peace on Wasabi: https://x.com/wasabi_protocol/status/1923079695253504170
You can now swap tokens between Sui, Base, Ethereum, and Solana on @phantom: https://x.com/phantom/status/1922343939509514730?s=46
The $REKT claim is now open: https://x.com/RektCoin/status/1922940236146811091
16,729,000 $PENGU was allocated to Genesis Ring Holders during the $PENGU airdrop last December: https://x.com/onchainheroes/status/1923113750095360108
Fairly surprising to see Virtuals and its OGs leaning so hard into 3,3 here: https://x.com/Tyler_Did_It/status/1923043393602490539
The NYPD just arrested @DrifterShoots in the middle of his solo show opening party in Chelsea: https://x.com/superchiefnft/status/1923180131633225835?s=61
Quick Stats:
👾 Blur ETH Daily Volume: 802 ETH (▼ 35.78%)
🌊 OpenSea ETH Daily Volume: 1,053 ETH (▲ 4.34%)
🟠 BTC : $103,839.89 (▲ 1.53%)
🔷 ETH: $2,640.65 (▲ 3.25%)
🟣 Solana: $173.90 (▲ 1.94%)
🟪 Polygon: $0.25 (▲ 3.59%)
Top NFT Sales:
CryptoPunks #6479: 51.00 ETH
CryptoPunks #7981: 46.00 ETH
Bored Ape Yacht Club #4541: 13.30 ETH
NFT Daily Winners:
🧙♂️ Taproot Wizards: 0.22 BTC (▲ 6.27%)
🐧 Pudgy Penguins: 9.90 ETH (▲ 3.09%)
🏳🌈 Chromie Squiggles: 4.40 ETH (▲ 2.33%)
😡 Mad Lads: 36.75 SOL (▲ 1.74%)
🦧 Bored Ape Yacht Club: 12.55 ETH (▲ 0.08%)
NFT Daily Losers:
🚬 CryptoPunks: 46.59 ETH (▼ 0.66%)
🏴☠ Captainz: 0.50 ETH (▼ 0.67%)
⛩ Azuki: 2.38 ETH (▼ 0.83%)
👩🏻 Milady Maker: 3.08 ETH (▼ 1.01%)
🍭 Mocaverse: 1.85 ETH (▼ 1.09%)
💼 Ordinal Maxi Biz: 0.03 BTC (▼ 1.79%)
🐵 NodeMonkes: 0.04 BTC (▼ 3.80%)
🧦 Bitcoin Puppets: 0.05 BTC (▼ 3.83%)
🐱 Quantum Cats: 0.04 BTC (▼ 3.85%)
👾 Tensorians: 2.69 SOL (▼ 7.24%)
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