Luxembourg Sovereign Wealth Fund Invests in Bitcoin
Luxembourg's sovereign wealth fund has allocated approximately $8 million to Bitcoin ETFs, becoming the first Eurozone country to do so. This investment marks a shift from a conservative strategy focused on bonds and equities, as the fund includes alternative assets. The allocation, which represents 1% of the fund's $811 million portfolio, was revealed by the Minister of Finance, Gilles Roth. Bob Kieffer, Luxembourg’s treasury director, noted the decision balances the fund's profile with a clear message about Bitcoin's potential. The fund, established in 2014, aims to build reserves for future generations and had previously focused on investment-grade bonds and index equities. Luxembourg joins other sovereign institutions exploring Bitcoin, though it remains cautious given Bitcoin's volatility. The investment aligns with a recent policy change indicating a move towards incorporating alternative assets in their strategy.
Source 🔗