Jersey City Pension Fund in New Jersey to Invest in Bitcoin via ETF

BlockBeats news, July 26, according to CoinDesk, the mayor of Jersey City, New Jersey, Steven Fulop said that the city's municipal pension fund will soon invest in Bitcoin through an ETF. This move follows a similar decision made by the Wisconsin Pension Fund earlier this year.

Fulop said the investment is expected to be completed "before the end of the summer." Although Fulop did not specify what proportion of the pension fund's assets will be allocated to the Bitcoin ETF, he said it would be "similar" to the 2% allocation of the Wisconsin Pension Fund.

Fulop did not disclose which Bitcoin ETF Jersey City is considering for investment.

Jersey City is the second largest city in New Jersey, USA (after Newark), located in northeastern New Jersey.