Arizona State Senate considering A proposal was made to encourage Arizona State Retirement System and Public Safety Personnel Retirement System to include Bitcoin ETFs as part of their investment portfolios.
JUST IN: 🇺🇸 Arizona State Senate is considering adding #Bitcoin ETFs for its state retirement portfolios pic.twitter.com/5t6v3Z5UuU
— Bitcoin Magazine (@BitcoinMagazine) March 6, 2024
On February 22, the Senate passed the bill’s third reading with 16-13 votes. Now, the House is reviewing the bill for the second time.
The proposal highlights the importance to monitor developments in Bitcoin-based ETFs. ASRS, PSPRS and other fund managers are also encouraged to examine the implications for including such assets into their portfolios. The proposal includes consulting with firms authorized by the U.S. Securities and Exchange Commission (SEC) to offer Bitcoin ETFs.
ASRS, PSPRS, and other state retirement systems would also have to submit a report on the feasibility and risks of directing funds from their pension plans into Bitcoin ETFs. The report will include options and suggestions for safely investing in Bitcoin ETFs. It will be sent to key officials of the state at least three month before the Fifty Seventh Legislature, first regular session.
The proposal will provide ASRS with the necessary information to help them make informed decisions regarding integrating Bitcoin ETFs to their investment strategy, diversifying their portfolios, and exploring new opportunities for growth.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: bitcoinmagazine.com