Luxembourg's Sovereign Wealth Fund Invests in Bitcoin ETF

According to Foresight News, Luxembourg's Finance Minister Gilles Roth has announced that the country's Intergenerational Sovereign Wealth Fund (FSIL) has allocated 1% of its assets to a Bitcoin ETF, marking it as the first national fund in the Eurozone to do so. While other European countries like Finland, Georgia, and the United Kingdom also hold Bitcoin, most of these holdings are from criminal seizures, except for Georgia, which holds 66 Bitcoins for investment purposes. Established in 2014, the FSIL aims to accumulate wealth for future generations and currently manages assets worth $730 million, primarily invested in high-quality bonds. Under a revised framework, the fund will continue to invest in stock and bond markets while being authorized to allocate up to 15% of its assets to alternative investments. These include private equity, real estate, and crypto assets. To mitigate operational risks, FSIL has chosen to invest in Bitcoin through selected ETFs.