Cryptocurrencies
Houston Pension Buys Crypto, an Asset ‘We Could Not Ignore’
- Fund makes initial investment of $25 million in Bitcoin, Ether
- Public pensions have been wary of cryptocurrency investing
Photographer: Manuel Medir/Getty Images
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The pension fund for Houston’s firefighters is tip-toeing into cryptocurrency investing.
The Houston Firefighters’ Relief and Retirement Fund, which has $5.5 billion of assets, said it invested $25 million in Bitcoin and Ether through NYDIG, a Bitcoin-focused subsidiary of asset manager Stone Ridge.