British pension specialist Cartwright has facilitated the investment of the UK's first pension fund in Bitcoin (BTC). This unnamed entity has allocated 3% of its total assets into Bitcoin, opting for direct investment instead of using a proxy like a spot ETF.

Cartwright is also set to introduce a Bitcoin Employee Benefits scheme, enabling employers to pay bitcoins directly into employee wallets. In a statement, Glenn Cameron, the head of digital assets at Cartwright, explained that the fund's decision followed extensive discussions concerning environmental, social, and governance (ESG) factors, as well as overall investment strategy and security measures.

Notably, this is a greater commitment than other recent pension fund investments, such as the State of Wisconsin, which allocated only 0.1% of its assets to a Bitcoin ETF. This investment represents a larger 3% of the unnamed UK pension fund's £50 million ($65 million) portfolio.

Currently, five companies are exploring the new employee benefits program, indicating a growing interest in cryptocurrency among institutional investors.