Two public pensions from Fairfax County, Virginia’s Police Officer’s Retirement System and Employees’ Retirement System, have invested in Morgan Creek’s new $40 million crypto fund. Anthony Pompliano, a Morgan Creek general partner, said that it is the first case in which public pensions have invested in the cryptocurrency market.

Apart from the two pensions, the fund is said to be financed by a university endowment, a hospital, an insurance company, and a private foundation. It raised a total of $40 million. Fairfax County Police Officer’s Retirement System chief investment officer Katherine Molnar said: “Blockchain technology is being applied in unique

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