In an announcement made yesterday, Luxembourg’s Finance Minister disclosed that the European country’s Intergenerational Sovereign Wealth Fund (FSIL) is set to allocate 1% of its total portfolio to Bitcoin (BTC) exchange-traded funds (ETFs) and other cryptocurrencies.

Luxembourg Wealth Fund Invests In Bitcoin

In a major nod of approval for Bitcoin as a mainstream asset, Luxembourg’s FSIL is poised to invest as much as 1% of its total portfolio – worth slightly more than $9.5 million – into BTC ETFs and other digital assets.

The development makes FSIL the first state-level Eurozone fund to invest in cryptocurrencies, a representative for the Agency for the Development of Luxembourg’s Financial Centre said. Bob Kieffer, Director of the Treasury, Luxembourg, said:

Recognizing the gr

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