Pension Allocators Open First Digital Asset Mandates
A handful of public plans have moved from study phase to funded allocations, typically sized below one percent of assets.
A small group of public pension plans has funded initial digital asset mandates following multi-year study periods, according to board minutes and consultant presentations reviewed by D2CA.
Allocations are consistently small, generally under one percent of total plan assets, and are implemented through regulated fund structures rather than direct custody.
Investment consultants say the governance work, not the investment thesis, has been the slower part of the process. Custody arrangements, valuation policy and audit treatment each required board-level sign-off.
Several plans that completed studies declined to allocate, citing fee levels and the absence of a long enough performance record.
About the author
Markets Editor
Sarah Jenkins leads D2CA's markets desk, tracking fund flows, exchange-traded products and institutional trading behaviour. She previously covered equity derivatives for a global wire service and began her career as a fixed income analyst in London.
D2CA.org reports on digital asset markets. This article is journalism, not investment advice. Corrections and clarifications: see our corrections policy.