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Cartwright, a British pension specialist, has taken a significant step forward in the institutional embrace of cryptocurrencies by guiding the country’s first pension fund into bitcoin. According to Corporate Advisor, the fund committed 3% of its £50 million assets to bitcoin, marking a bold shift in asset management after extensive discussions on ESG concerns, investment benefits, and security.
This move is a noteworthy deviation from traditional investments as the fund directly invested in bitcoin rather than through proxies like ETFs. The investment’s security is reinforced by distributing the private key across five separate institutions. This direct investment contrasts sharply with the State of Wisconsin’s pension plan, which previously invested a mere 0.1% of its assets in bitcoin via an ETF.
Further cementing its commitment to cryptocurrency, Cartwright announced the launch of a Bitcoin Employee Benefits scheme, allowing employers to deposit bitcoin into employee wallets. With five companies already expressing interest, this initiative positions Cartwright at the forefront of integrating bitcoin into standard financial practices.
