Bitcoin ETF

Bitcoin

Safety

The Arizona State Senate has advanced a resolution aimed at evaluating the potential for incorporating Bitcoin Exchange-Traded Funds (ETFs) into the state’s retirement funds. This proposal encourages the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS) to assess the viability of adding Bitcoin ETFs to their investment portfolios. The resolution passed with a 16-13 vote, indicating a divided stance along party lines, with all Democrats opposing the measure.
Introduced shortly after the U.S. Securities and Exchange Commission approved the trading of Bitcoin ETFs, <a href="https://legiscan.com/AZ/supplement/SCR1016/id/426920" rel="noopener noreferrer nofollow" target="_blank">the resolution</a> highlights Arizona’s interest in digital asset investments. Spearheaded by Republican State Senator Wendy Rogers, known for her efforts to legalize Bitcoin as tender within the state, the resolution could pave the way for the ASRS and PSPRS to explore new investment vehicles. Rogers’ previous bill in 2022 aimed at making Bitcoin legal tender did not progress to committee markup.
<h2 class="wp-block-heading" id="evaluating-bitcoin-etfs-for-retirement-portfolios">Evaluating Bitcoin ETFs for Retirement Portfolios&nbsp;</h2>
The concurrent resolution, not requiring Arizona Governor Katie Hobbs’ signature, mandates the ASRS and PSPRS to compile a report on the feasibility, risks, and benefits of investing in digital asset ETFs. This report is expected to include a list of options and recommendations for how the state might safely invest in this asset class.
This move by the Arizona State Senate follows examples from other states and municipalities that have started to allocate funds to cryptocurrency investments. For instance, a pension fund for firefighters in Houston, Texas, announced a $25 million investment in Bitcoin and Ether in 2021, and a Virginia-based retirement system began investing in crypto-related ventures as early as 2019.
The resolution is now before the state House Ways and Means Committee for further consideration, marking a step toward potentially broadening the investment strategies of Arizona’s state retirement systems with Bitcoin ETFs.

Arizona Senate pushes for Bitcoin ETF inclusion in state retirement funds

목차

Cryptopolitan_News

2024년 3월 6일에 게재된 다른 기사

Shiba Inu Cryptocurrency Prepares for Major Product Launch

Render Breaks ATH – Here’s Why RNDR Price is Pumping

Kin (KIN) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Once-In-A-Lifetime Opportunity: Bitgert Coin’s Surge to $0.0001 Set To Catapult Investors Into th...

New and Best Meme Coins To Buy Wednesday, March 6 – BullBear AI, Woof, Cheems, Smog

Jim Cramer Claims Bitcoin (BTC) Price Has Topped

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!