[adament]

A pension fund might very well be allowed to buy junk bonds since it is a well-known if risky instrument whereas bitcoin ETFs are a newfangled weird instrument that is probably not covered by their guidelines.

I mean allowed in the sense that the investment guidelines set by the board allow it.

Source: I work at a pension fund where I think we are in precisely this situation.

[xiphias2]

I think in the next few years the pressure for junk bonds like this in pension funds will just grow as inflation rate moves farther away from bond yields.

[riffraff]

thanks for your reply!