UK Pension Fund Makes Bitcoin Allocation

Cartwright, a pension specialist based in the United Kingdom, announced that an “unnamed scheme” had allocated 3% of its pension fund to Bitcoin.

In a notice dated Nov. 4, Cartwright stated that following “a rigorous training and due diligence process,” a UK pension scheme decided to invest in Bitcoin, emphasizing the scheme’s “long investment time horizon.”

Steve Robinson, the firm’s head of investment implementation, commented that the crypto investment would assist in “reducing reliance on employer contribution.”

In 2024, several local and federal governments made crypto investments for pension funds.

In the UK, Legal and General, a major pension and investment firm with $1.5 trillion in assets under management, announced plans in October to explore offering tokenized funds.

Meanwhile, South Korea’s pension service disclosed $34 million in exposure to MicroStrategy, known for its substantial Bitcoin holdings.

As of Sept. 30, the State of Michigan Retirement System had invested approximately $18 million in Bitcoin and Ethereum exchange-traded products.

In July, the UK experienced a political shift when Labour took control from the Conservatives for the first time in 14 years. Before the election, some experts speculated that the new government would not prioritize digital asset regulation.

The government released its proposed budget in November.

The Financial Conduct Authority (FCA) continues to serve as the UK’s financial regulator, taking enforcement action against crypto firms when necessary.

Sources:

https://cointelegraph.com/news/uk-pension-scheme-bitcoin-investment

https://cartwrightbenefits.co.uk/news_press_november_2024.html