Is there investment value in Bitcoin?

Also in 2022, Ontario Teachers’ Pension Plan said it had to write down the entirety of its $126 million investment in FTX. The investment, made through Teachers’ Venture Growth (TVG) platform, was alongside a number of global investors so the plan could gain small-scale exposure to an “emerging area in the financial technology sector,” Teachers’ said in a statement. “Our investment represented less than 0.05% of our total net assets and equated to ownership of 0.4% and 0.5% of FTX International and FTX.US, respectively.

“The financial loss from this investment will have limited impact on the plan, given its size relative to our total net assets and our strong financial position. However, we are disappointed with the outcome of this investment, take all losses seriously, and will use this experience to further strengthen our approach.”

Even Canadian Pension Plan Investments (CPP) looked at cryptocurrency as an area to invest. However, after doing research, it stopped any consideration of investment in the asset class.

The government has gotten involved and announced in its Budget 2023 that it will require federally regulated pension funds to disclose their crypto-asset exposures to Office of the Superintendent of Financial Institutions (OSFI). It will work with provinces and territories to discuss crypto-asset or related activities disclosures by Canada’s largest pension plans so Canadians are aware of their pension plans’ potential exposure to crypto-assets.

Exposure to cryptocurrencies

BlackRock’s bitcoin ETF would grant investors exposure into the crypto space, even as the sector faces steep regulation from the SEC.