Wisconsin has officially become the first state to buy bitcoin, according to a new filing with the U.S. Securities and Exchange Commission. And while $98 million isn't considered a lot of money for a state pension fund, it's still a notable move given how notoriously volatile cryptocurrency investing can be.

The SEC filing, available online, was first reported by Coindesk, which notes the State of Wisconsin Investment Board bought 94,562 shares of BlackRock's iShares Bitcoin Trust (IBIT) worth about $98 million and $63 million of Grayscale's spot Bitcoin ETF (GBTC).