EddieJayonCrypto
7 Mar 24
A non-binding resolution before the Arizona state senate is encouraging the inclusion of Bitcoin ETFs in the state’s retirement plans for government workers. It highlights the explosive market interest in Bitcoin and Bitcoin ETFs, while also leaving the door open for other digital asset-based ETFs....
A non-binding resolution before the Arizona state senate is encouraging the inclusion of Bitcoin ETFs in the state’s retirement plans for government workers. It highlights the explosive market interest in Bitcoin and Bitcoin ETFs, while also leaving the door open for other digital asset-based ETFs. The resolution urges the evaluation of potential risks and benefits of investing in Bitcoin and digital asset ETFs and has been advocated by entrepreneur and investor Anthony Pompliano, who argues that government pension funds should buy Bitcoin to meet their obligations to retirees.
A bill before the Arizona state senate would encourage the state’s portfolio of retirement plans for government workers to include Bitcoin ETFs. Adoption of the digital asset is proposed in Senate Concurrent Resolution 1016, introduced by state Sens. Jake Hoffman and Warren Petersen along with Rep. Joseph Chaplik. The resolution highlights the explosive market interest in Bitcoin and Bitcoin ETFs following the approval of 11 spot Bitcoin ETFs in January, noting that the top cryptocurrency has a market cap of over $1.3 trillion and that global assets under management for firms that have filed for a Bitcoin ETF add up to more than $16 trillion.
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