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Wisconsin Pension Fund Sold $300M BlackRock Bitcoin ETF Stake Amid Tariff Turmoil, New Filing Shows – Decrypt

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Wisconsin Pension Fund Sold 0M BlackRock Bitcoin ETF Stake Amid Tariff Turmoil, New Filing Shows – Decrypt


In brief

  • According to an SEC filing, Wisconsin sold its entire $300M stake in BlackRock’s Bitcoin ETF in early 2025.
  • The sale came amid rising U.S.-China trade tensions and sweeping tariffs from the Trump administration.
  • Crypto markets tumbled, with Bitcoin falling below $75,000 and Ethereum dropping to two-year lows as trade fears grew.

The State of Wisconsin Investment Board quietly liquidated its entire $300 million stake in BlackRock’s iShares Bitcoin Trust (IBIT) sometime during the first quarter of 2025, according to a new 13F filing with the U.S. Securities and Exchange Commission on Thursday.

The sale occurred against the backdrop of growing market uncertainty triggered by a wave of U.S. tariffs that rattled global trade and risk assets.

Notably, the filing’s cutoff date—March 31—came just two days before the so-called ‘Liberation Day’ on April 2, 2025—a reference to the day the U.S. imposed comprehensive tariffs affecting nearly all its major trading partners.

The SEC filing, dated May 15, confirms SWIB sold its Bitcoin ETF holdings ahead of the March 31 reporting date for the end of the first quarter of the year.

According to the board’s previous filing, dated February 14, the fund held 6,060,351 IBIT shares, worth approximately $321,501,621.

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Shifting market optics

The broader economic landscape also shifted dramatically following President Donald Trump’s inauguration, which began an aggressive new trade policy that seeks to reshore manufacturing on U.S. soil and spur domestic growth.

The administration announced 25% tariffs on goods from Canada and Mexico and a 10% tariff on Chinese imports on February 1. Two days later, the Canada and Mexico tariffs were paused for 30 days, though the 10% tariff on China took effect on February 4.

By February 11, President Trump reinstated a 25% tariff on steel imports and raised the tariff on aluminum to 25%. Trade pressure ramped up on March 4, when the U.S. increased tariffs on China to 20%.

The tit-for-tat policy spiral of tariffs led to significant market instability, with Goldman Sachs analysts warning the new tariffs could push core inflation to 3.8% this year.

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The crypto markets were not left unscathed, where Bitcoin fell 2.3% to around $83,200, while Ethereum dropped 4.5%.

Amid a retaliatory spiral, U.S. tariffs on Chinese goods surged to 145%, while China raised tariffs on U.S. products to 125%, sending Bitcoin below $75,000.

Tensions began to ease in May when the U.S. and China temporarily reduced tariffs.

The U.S. lowered its rate on Chinese goods to 30%, while China reduced its tariff on U.S. imports to 10%.

As of mid-May, President Trump has also paused most reciprocal tariffs on other countries.

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Edited by Sebastian Sinclair

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Wisconsin

President of Wisconsin’s largest mosque detained by US immigration agents

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President of Wisconsin’s largest mosque detained by US immigration agents


The president of Wisconsin’s largest mosque was detained by federal immigration agents, drawing accusations from local officials and religious leaders that the arrest was motivated by his statements against Israel.

Salah Sarsour, a Palestinian-born legal permanent resident of the United States, was taken into custody by nearly a dozen US Immigration and Customs Enforcement (ICE) agents on Monday in Milwaukee after he left his home, according to the Islamic Society of Milwaukee.

Supporters called for his immediate release on Thursday and his attorneys said he was detained on the grounds that he is a foreign policy threat. His attorneys say the claims have no merit.

Instead, they believe Sarsour, 53, was targeted for speaking out against Israel and for a conviction as a minor by Israeli military courts, which have faced scrutiny over allegations of limited due process and high conviction rates of Palestinians. Israel rejects those claims. The offenses included allegedly throwing rocks at Israeli officers, according to attorney Munjed Ahmad.

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“Our government should not be doing the bidding of a foreign government,” Ahmad said of Israel. “There’s no question in my mind is that this is to stifle the discourse on the Palestinian narrative.”

Attorneys said Sarsour, born in the Israeli-occupied West Bank, has no criminal record in the US.

Sarsour’s attorneys have likened the case to that of Mahmoud Khalil, a former Columbia University activist who faces deportation because the federal government said he was a foreign policy threat.

An email message left on Thursday for ICE and the Department of Homeland Security was not immediately returned.

Sarsour has been the president of the Islamic Society of Milwaukee, the largest Islamic organization in the state, for five years. His attorneys say he’s held a green card for years and lived in the Milwaukee area. His wife and four adult children are US citizens.

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His arrest prompted outcry from top elected officials, including Milwaukee’s mayor, Cavalier Johnson, who called it “an outrage”.

“He is a legal permanent resident. There is no substantive evidence he has done anything wrong,” Johnson said in a post on X. “This is another example of overreach and harm from the U.S. Immigration authorities.”

Sarsour is being held at county jail outside Indianapolis. His attorneys have filed a petition seeking his release.

“He is ready to fight tooth and nail to make sure that he’s not drug through the mud,” Ahmad said. “He wants to stay in this country.”



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Wisconsin police can now test saliva if they suspect drugged driving

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Wisconsin police can now test saliva if they suspect drugged driving


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  • A state law signed in March allows police to test a driver’s saliva for meth, cocaine, delta-9 THC and more if they suspect an OWI.
  • No police departments appear to be adopting the test right away, but several expressed interest depending on funding and resources.
  • Other states have similar programs, and the Dane and Manitowoc sheriff’s departments ran successful pilot programs in recent years.

A new state law allows police who suspect drugged driving to perform a rapid roadside test of the driver’s saliva to check for THC, opioids, meth and more, though police departments don’t appear ready to roll it out immediately.

State law already allows police to use breathalyzers to check blood-alcohol levels, but those devices don’t test for other intoxicating substances. The new law allows police to sample oral fluids – mainly saliva – when they suspect an OWI.

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Law enforcement groups that advocated for the law change say drug impairment is more difficult to identify than alcohol intoxication. Plus, intoxication levels can decrease between the time police make a traffic stop and a blood sample is collected.

“Oral fluid screening would give officers an additional, objective tool to confirm the presence of drugs – much like a preliminary breath test does for alcohol – before making an arrest decision,” Dane County Sheriff Kalvin Barrett said at a December public hearing.

Wisconsin Act 99 became effective March 15, two days after Democratic Gov. Tony Evers signed it into law. The state Legislature passed it in February with bipartisan support.

Here’s what to know about the new law:

What does the law allow police to do when they suspect an impaired driver?

If police have probable cause to believe a driver is intoxicated, the officer can request a saliva or breath test, or both. That’s in addition to field sobriety tests.

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The officer places a mouth swab inside the driver’s cheek or under the tongue and runs it through a handheld device, such as Abbott’s SoToxa or Alere DDS2.

The legislation was amended to allow the tests for suspected intoxicated operation of vehicles other than cars, such as boats, snowmobiles, ATVs, UTVs and more.

Are the oral drug tests admissible in court?

No. The test results aren’t admissible in court and must be destroyed or returned to the person after the test is completed.

The preliminary tests are used only to help police decide whether to make an arrest and pursue laboratory confirmation testing.

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Have police in Wisconsin tried saliva drug tests before?

Yes. The Dane County and Manitowoc County sheriff’s offices piloted the program in 2016 and 2019, finding that oral fluid testing devices were accurate and consistent with blood tests.

Dane County conducted its study with the State Laboratory of Hygiene and published the results in an academic journal. The study found that 64% of participants arrested for an OWI also had one or more drugs in their blood, with THC the most common.

Manitowoc County worked with the State Laboratory of Hygiene and the Wisconsin State Patrol on its study, which collected 100 voluntary samples. Results showed 41% of OWI offenders were positive for THC, 20% for amphetamine and 14% for methamphetamine.

Which police agencies plan to use the new saliva drug test?

Wisconsin Chiefs of Police Association President Danny Thompson said he wasn’t aware of any agencies immediately using the test.

“Although this roadside test will be very beneficial to arresting dangerous, impaired drivers, we have not heard of any agencies ready to implement this kind of testing right away,” Thompson said in a statement to the Milwaukee Journal Sentinel.

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A Milwaukee Police Department spokesperson said the department isn’t using the tests “at this time and are still looking into it.” A Milwaukee County Sheriff’s Office spokesperson didn’t respond to a request for comment.

The two departments that piloted the program also don’t plan to bring it back right away.

Manitowoc County Sheriff Daniel Hartwig said his office is monitoring guidance related to the new law but doesn’t have plans to implement it at this point. A Dane County Sheriff’s Office spokesperson said the county would use it “given the appropriate funding and resources.”

How much would the program cost?

Each SoToxa device appears to cost around $4,500 to $5,000, according to news reports on programs in North Dakota and San Diego.

Law enforcement groups said agencies in Wisconsin would likely pursue funding for the devices through federal grants.

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Do other states use saliva screening?

Yes. A state-by-state analysis from the National Alliance to Stop Impaired Driving shows 10 states have statewide roadside oral fluid testing programs, and another eight have the program in some jurisdictions.

A 2021 report from the National Conference of State Legislatures found nearly half of states have the law, but few used it. One that does is Indiana, where over 200 handheld test devices are used across 110 law enforcement agencies.

Who authored and supported the law?

The bill was authored by Republicans, including Sen. Jesse James from Thorp and Rep. Barbara Dittrich from Oconomowoc. Several Democrats became cosponsors, including Rep. Lori Palmeri from Oshkosh and Rep. Ryan Spaude from Ashwaubenon.

Supporters of the bill included AAA Wisconsin, the Milwaukee Police Association, the Wisconsin Chiefs of Police Association and Mothers Against Drunk Driving. No groups registered in opposition to the bill.

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What qualifies as operating while intoxicated in Wisconsin?

According to the Wisconsin Department of Transportation and state law, a driver is considered to be operating while intoxicated if:

  • The driver is under the influence of an intoxicant, controlled substance or other drug that impairs their ability to safely operate a vehicle, even if the vehicle isn’t in motion at the time of the traffic stop.
  • The driver has a detectable amount of a restricted controlled substance in their blood. That includes cocaine, heroin, meth, delta-9 THC (if at a concentration of one or more nanograms per milliliter in a person’s blood) and more.
  • The driver has a BAC over what the law allows, such as above 0.08 for first-time offenders, 0.04 for commercial drivers or 0.02 for drivers with three or more prior OWIs.

Hope Karnopp can be reached at HKarnopp@usatodayco.com.



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These Wisconsin Rapids schools have announced closures for April 2

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These Wisconsin Rapids schools have announced closures for April 2



The following Wisconsin Rapids-area school districts have announced closures or other changes for Thursday, April 2 due to a predicted ice storm.

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As another winter storm threatens to bring significant icing across central Wisconsin Thursday, April 2, many local school districts have canceled classes or adjusted to virtual learning.

The National Weather Service has also issued an Ice Storm Warning from 1 a.m. to 10 a.m. Thursday for Wood, Portage and Waupaca counties, including Wisconsin Rapids, Marshfield, Plover, Stevens Point and Waupaca.

The storm could bring total ice accumulations between one-quarter and one-half inch of ice and winds gusting as high as 35 mph, according to the National Weather Service. Power outages and tree damage are likely with the storm due to the ice.

Travel also could be hazardous due to the icy roads. The hazardous conditions will impact the Thursday morning commute. The National Weather Service “strongly discourages” people from traveling during the warning. For the latest road conditions, call 511.

Wisconsin Rapids-area school district closures

The following Wisconsin Rapids-area school districts have announced closures or other changes for Thursday, April 2.

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  • Assumption Catholic Schools: Assumption Catholic Schools will be closed on Thursday, April 2, according to the district’s Facebook page. Students in grades 7-12 should refer to the email and instructions they received regarding remote learning day expectations.
  • Nekoosa School District: The Nekoosa School District has canceled classes for Thursday, April 2, according to an email from the district.
  • School District of Pittsville: The School District of Pittsville will have a virtual learning day on Thursday, April 2, according to the district’s Facebook page. The Pittsville Child Care Center also will be closed April 2. Students and staff already are scheduled to be off for Good Friday on April 3, so they will return on Monday, April 6.
  • Port Edwards School District: The Port Edwards School District will have a virtual learning on Thursday, April 2, according to the district’s Facebook page. The Student Council’s Red Carpet Semi-Formal Dance for middle-schoolers has been postponed to 5:30-7:30 p.m. Friday, April 10.
  • Tri-County Area School District: The Tri-County Area School District will have a virtual learning day on Thursday, April 2, according to the district’s Facebook page. Staff and students will participate in virtual education as planned by their building administration. There will be no after-school activities on April 2.
  • Wisconsin Rapids Public Schools: Wisconsin Rapids Public Schools will have a remote learning day for all students on Thursday, April 2. All elementary and middle school activities are canceled. The status of after-school activities will be determined by mid- to late-morning on April 2, depending on road conditions.

Editor Jamie Rokus can be reached at jrokus@usatodayco.com or follow her on X (formerly Twitter) at @Jamie_Rokus.



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