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Luxembourg sovereign wealth fund invests 1% in Bitcoin ETFs

Luxembourg’s sovereign wealth fund has committed 1% of its nearly $900 million portfolio, approximately $9 million, to Bitcoin exchange-traded funds (ETFs). This investment marks a significant move by a European state-backed entity towards embracing cryptocurrencies. According to Bob Kieffer, the director of the Treasury, this decision was disclosed by Finance Minister Gilles Roth during the presentation of the 2026 Budget. The fund aims to leverage the growing maturity of the cryptocurrency asset class while maintaining a robust governance structure. Luxembourg's Intergenerational Sovereign Wealth Fund (FSIL) is now authorized to allocate up to 15% of its assets to alternative investments, including cryptocurrencies. However, to mitigate operational risks, the fund chose to invest indirectly through ETFs rather than holding Bitcoin directly. Kieffer emphasized that while some may view the investment as conservative, a 1% allocation serves as a balanced approach that acknowledges Bitcoin's long-term potential in the financial landscape.

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