Jersey City, New Jersey’s municipal pension plan will soon invest in bitcoin through exchange-traded funds, according to Mayor Steven Fulop’s social media post on Thursday.

It probably won’t be a huge amount, but this decision is another symbolic victory on crypto’s path to wider acceptance. The move follows the Wisconsin pension plan, which made a similar decision earlier this year. Fulop, who has been Mayor of Jersey City since 2013, wrote to announce the upcoming investment on ended and crypto/Bitcoin won.”

Fulop, a Democrat, is running for New Jersey’s 2025 gubernatorial election. Current Governor Phil Murphy, also a Democrat, served two terms and is not eligible for re-election. Fulop added that the Jersey City Employees Retirement System, the city’s pension fund, is currently in the process of updating documents with the U.S. Securities and Exchange Commission (SEC) to allocate a percentage of the fund to bitcoin (BTC) ETFs. According to Fulop’s tweet, the investment is expected to be completed “by the end of summer.”

While Fulop did not specify exactly how much of the pension funds’ assets under management would be allocated to bitcoin ETFs, he said it would be “similar” to the 2% bitcoin ETF allocation the state of Wisconsin’s pension fund made earlier this year. He did not specify which bitcoin ETF Jersey City is considering selecting for investment. “I’ve been a long-time believer in crypto (through the ups and downs), but overall, outside of crypto, I believe blockchain is among the most important new technology innovations since the internet,” Fulop said.

Public pension funds’ interest in bitcoin is slowly but surely growing. Wisconsin’s public pension plan — the Wisconsin Board of Investment, which has about $156 billion in assets under management — is the largest retirement plan to dive into crypto so far, making a $160 million investment in spot bitcoin ETFs earlier this year. Some smaller pension funds, such as the Houston Firefighters Benefit and Pension Fund, which has approximately $5 billion in assets under management, have also been investing in crypto for several years.

Pension funds of Fairfax County, Virginia, have also invested in crypto through VanEck’s New Finance Income Fund, which is a creditor of crypto firm Genesis, which filed for bankruptcy last year.

The $1.4 trillion Government Pension Investment Fund of Japan, the world’s largest pension plan among public pension plans outside the United States, issued a request for information about bitcoin investments earlier this year.

“I’m sure it will eventually become more mainstream,” said Fulop, who tweeted about allocating retirement funds to crypto.