Indiana Introduces Bill Allowing Public Employee Pension Funds to Invest in Bitcoin ETFs
Summary
- A bill has been introduced in Indiana to add virtual asset-related investment options, such as Bitcoin ETFs, to public pension and savings programs.
- The bill requires managers of several public pension and savings programs to offer virtual asset exchange-traded funds (ETFs) as default investment options and allows some state pension funds to invest in virtual asset ETFs.
- Pierce emphasized that the bill would give residents more investment choices and provide an opportunity to explore the impact of blockchain and digital asset technologies on local communities.
A bill has been introduced in Indiana to expand investments in virtual assets (cryptocurrencies) such as Bitcoin (BTC).
On the 6th (Korea time), according to crypto-focused outlet Decrypt, Republican state representative Kyle Pierce of Indiana filed 'House Bill 1042' on the 4th (local time). The bill would add virtual asset-related investment options to public pension and savings programs in Indiana.
Specifically, the bill requires managers of several public pension and savings programs to offer virtual asset exchange-traded funds (ETFs) as default investment options and allows certain state pension funds to invest in virtual asset ETFs. It also authorizes the state treasurer to invest assets of designated funds in stablecoin-related ETFs.
Pierce said, "Digital assets are rapidly becoming part of everyday finance, and Indiana must be ready to leverage them in a smart and responsible way," adding, "This bill provides residents with more investment choices while offering an opportunity to explore how blockchain and digital asset technologies can benefit our state's communities."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
