The Wisconsin Investment Board sold its $300 million stake in BlackRock's iShares Bitcoin Trust during the first quarter of 2025, as detailed in a recent SEC filing. This sale occurred amid escalating trade tensions between the U.S. and China, which impacted crypto markets significantly, leading to a drop in Bitcoin prices. The filing shows that the state fund liquidated its holdings just before the U.S. imposed comprehensive tariffs on April 2, 2025, which contributed to an overall market decline. Prior to the sale, the fund held over 6 million shares, valued at approximately $321 million. Analysts indicated that the trade policies implemented post-Trump's inauguration had sparked economic uncertainty, leading to a bearish trend in Bitcoin, which fell below $75,000 as tariff fears grew. The filing suggests proactive risk management from the Wisconsin fund as they navigated the turbulent economic landscape and crypto market fluctuations.

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