Michigan’s state pension fund has acquired roughly 300,000 shares of the Ark Bitcoin exchange-traded fund, an investment valued at about $10.7 million, according to an announcement on 5 August. Subsequent disclosures indicated the fund added a further 200,000 shares, leaving its total Bitcoin-linked stake near $10 million as market prices fluctuated. The allocation, while small relative to the pension system’s overall assets, marks a rare move by a U.S. public retirement plan to gain exposure to the cryptocurrency market through an ETF. The purchase underscores the widening acceptance of digital-asset vehicles among traditional institutional investors, who are seeking new sources of diversification amid continued volatility in global markets.