On November 5, the Michigan pension fund announced its new investment in a Grayscale Ethereum exchange-traded fund (ETHE), making it the first pension fund to invest in such a financial instrument since Ethereum-based trading began in July. The fund owns 460,000 shares of Grayscale Ethereum Trust, worth around $10 million, making it one of its top five holdings.
Additionally, the fund also disclosed holding 460,000 shares of the Grayscale Ethereum Mini Trust ETF (ETH), worth approximately $1.1 million.
