Logo
  • News
  • Cryptocurrencies
  • Data
  • Indices
  • Research
  • Events
  • Sponsored
  • Sign In
  • Sign Up
BTC logo
BTC
$118,379.54
0.34%
ETH logo
ETH
$3,860.68
1.35%
XRP logo
XRP
$3.1372
0.14%
USDT logo
USDT
$0.9999
0.01%
BNB logo
BNB
$800.87
0.03%
SOL logo
SOL
$181.03
0.04%
USDC logo
USDC
$0.9999
0.00%
DOGE logo
DOGE
$0.2232
0.14%
TRX logo
TRX
$0.3268
2.83%
ADA logo
ADA
$0.7813
0.29%
HYPE logo
HYPE
$43.04
0.35%
SUI logo
SUI
$3.8533
1.45%
XLM logo
XLM
$0.4233
0.79%
LINK logo
LINK
$18.06
1.62%
BCH logo
BCH
$584.53
3.41%
HBAR logo
HBAR
$0.2727
4.85%
AVAX logo
AVAX
$23.96
0.80%
WBT logo
WBT
$44.12
0.71%
LTC logo
LTC
$110.59
1.69%
USDE logo
USDE
$1.0009
0.00%
BTC logo
BTC
$118,379.54
0.34%
ETH logo
ETH
$3,860.68
1.35%
XRP logo
XRP
$3.1372
0.14%
USDT logo
USDT
$0.9999
0.01%
BNB logo
BNB
$800.87
0.03%
SOL logo
SOL
$181.03
0.04%
USDC logo
USDC
$0.9999
0.00%
DOGE logo
DOGE
$0.2232
0.14%
TRX logo
TRX
$0.3268
2.83%
ADA logo
ADA
$0.7813
0.29%
HYPE logo
HYPE
$43.04
0.35%
SUI logo
SUI
$3.8533
1.45%
XLM logo
XLM
$0.4233
0.79%
LINK logo
LINK
$18.06
1.62%
BCH logo
BCH
$584.53
3.41%
HBAR logo
HBAR
$0.2727
4.85%
AVAX logo
AVAX
$23.96
0.80%
WBT logo
WBT
$44.12
0.71%
LTC logo
LTC
$110.59
1.69%
USDE logo
USDE
$1.0009
0.00%
Ad
Policy
Share this article
X iconX (Twitter)LinkedInFacebookEmail

New Jersey Pension Invested $7M in Bitcoin Mining Stocks Last Quarter

The $30 billion pension took stakes in Riot Blockchain and Marathon Digital Holdings in a first for the state.

By Danny Nelson
Updated Sep 14, 2021, 1:30 p.m. Published Jul 23, 2021, 5:27 p.m.
Vintage postcard of Trenton, N.J.
Vintage postcard of Trenton, N.J.

New Jersey’s pension fund chased crypto mining’s upside last quarter with multimillion-dollar bets on two of the industry’s biggest names.

jwp-player-placeholder
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the State of Crypto Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

The state-managed pension ended June with $3.66 million in Riot Blockchain (NASDAQ: RIOT) and $3.39 million in Marathon Digital Holdings (NASDAQ: MARA), according to disclosure documents.

New Jersey’s Common Pension Fund D has $30 billion in total assets for state employees.

The allocation appears to be New Jersey’s first in the crypto sector. Other state-run pension schemes have also warmed to bitcoin mining stocks in recent months, most notably California’s.

Read more: California Pension Fund Loaded Up on RIOT Shares During Bitcoin’s Q4 Rally

The NJ Division of Investment did not immediately reply to a request for comment.

Bitcoin MiningStocksPensionsCrypto Stocks
Danny Nelson

Danny was CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.

X icon
Danny Nelson

More For You

Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access

By Sam Reynolds|Edited by Parikshit Mishra
Jul 24, 2025
JPMorgan CEO Jamie Dimon

A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.

What to know:

  • Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
  • JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
  • The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
Read full story
Latest Crypto News
Article image

lorem ipsum article 1

18 hours ago
CoinDesk

Multisig Failures Dominate as $2B Is Lost in Web3 Hacks in the First Half

Jul 24, 2025
JPMorgan CEO Jamie Dimon

Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access

Jul 24, 2025
WIF Experiences 11% Intraday Swing with Institutional Support Driving Recovery to $1.21 Amid Bullish Technical Signals

WIF Suffers Sharp 11% Decline Before Mounting Recovery to $1.21

Jul 23, 2025
A momentum indicator has turned green for BTC bulls. (geralt/Pixabay)

[Article test] Bitcoin Climbs to $105K; Crypto ETF Issuer Sees 35% Upside

Jul 23, 2025
(CJ/Unsplash)

[Test] Bitcoin Perp Futures Open Interest on Offshore Platforms Surges The Most Since Trump's Crypto Reserve Disclosure

Jul 21, 2025
Top Stories
JPMorgan Chase CEO Jamie Dimon (Photo by Kevin Dietsch/Getty Images)

JPMorgan To Allow Clients To Buy Bitcoin, Says Jamie Dimon

May 19, 2025
Consensus 2025: Anthony Scaramucci, Founder, SkyBridge Capital

Scaramucci Says Bitcoin Treasury Trend Will Fade Despite Saylor’s Success

Jul 2, 2025
A barman shakes a cocktail shaker with an array of drinks bottles behind him.

Crypto Daybook Americas: Bitcoin Whiplash Shakes Market as U.S. Yield Spike Threatens Bull Run

May 19, 2025
Mike Novogratz, Galaxy founder and CEO, speaks at Consensus 2024 (CoinDesk/Shutterstock/Suzanne Cordiero)

The Bull Case for Galaxy Digital Is AI Data Centers Not Bitcoin Mining, Research Firm Says

May 19, 2025
Tokyo, Japan (Jaison Lin/Unsplash)

Metaplanet Buys Another 1,004 Bitcoin, Lifts Holdings to Over $800M Worth of BTC

May 19, 2025
A roller coaster. (Mark Wilson/Getty Images)

Bulls and Bears Get Caught off Guard as Bitcoin Jumps to $106K, Then Falls Back to $103K

May 19, 2025

Only 2 articles remaining this month.

Sign up for free

About

  • About Us
  • Masthead
  • Careers
  • CoinDesk News
  • Crypto API Documentation
  • Blog

Contact

  • Contact Us
  • Accessibility
  • Advertise
  • Sitemap
  • System Status
Disclosure & Polices
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
EthicsPrivacyTerms of UseCookie SettingsDo Not Sell My Info

© 2025 CoinDesk, Inc.
X icon
Sign Up
  • News
    Back to menu
    News
    • Markets
    • Finance
    • Tech
    • Policy
    • Focus
  • Cryptocurrencies
    Back to menu
    Cryptocurrencies
    • Data
      Back to menu
      Data
      • Trade Data
      • Derivatives
      • Order Book Data
      • On-Chain Data
      • API
      • Research & Insights
      • Data Catalogue
      • AI & Machine Learning
    • Indices
      Back to menu
      Indices
      • Multi-Asset Indices
      • Reference Rates
      • Strategies and Services
      • API
      • Insights & Announcements
      • Documentation & Governance
    • Research
      Back to menu
      Research
      • Events
        Back to menu
        Events
        • CoinDesk: Policy & Regulation
        • Consensus Hong Kong
        • Consensus Miami
      • Sponsored
        Back to menu
        Sponsored
        • Thought Leadership
        • Press Releases
        • CoinW
        • MEXC
        • Phemex
        • Advertise
      • Videos
        Back to menu
        Videos
        • CoinDesk Daily
        • Shorts
        • Editor's Picks
      • Podcasts
        Back to menu
        Podcasts
        • CoinDesk Podcast Network
        • Markets Daily
        • Gen C
        • Unchained with Laura Shin
        • The Mining Pod
      • Newsletters
        Back to menu
        Newsletters
        • The Node
        • Crypto Daybook Americas
        • State of Crypto
        • Crypto Long & Short
        • Crypto for Advisors
      • Webinars
        Back to menu
        Webinars
        Select Language
        English enEspañol esFilipino filFrançais frItaliano itPortuguês pt-brРусский ruУкраїнська ukDeutsch deNederlands nl한국어 ko中文 zh