Summary
TLDR: The Arizona State Senate is considering a proposal to encourage state retirement systems to explore including Bitcoin ETFs in their investment portfolios. The proposal passed the Senate and is now being reviewed by the House. If approved, ASRS and PSPRS would need to submit a report on the feasibility, risks, and benefits of investing in Bitcoin ETFs. The goal is to provide information for informed decision-making and potential portfolio diversification.
Key Points
1. The Arizona State Senate is considering a proposal to encourage the inclusion of Bitcoin ETFs in the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS) investment portfolios.
2. The bill passed the Senate’s Third Reading in a 16-13 vote on February 22 and is now under review by the House for the second time.
3. The proposal emphasizes the importance of monitoring Bitcoin ETF developments and urges ASRS and PSPRS to consult with SEC-approved firms for guidance on including such assets in their portfolios. Additionally, a comprehensive report on the feasibility, risks, and potential benefits of investing in Bitcoin ETFs is required to be submitted to key state officials before the beginning of the Fifty-Seventh Legislature, First Regular Session.