Arizona Senate wants state pensions to consider adding Bitcoin ETFs to portfolios

The Arizona State Senate passed a resolution to encourage state pensions to consider adding bitcoin spot ETFs (exchange-traded funds) and other digital asset ETFs to their investment portfolios.

He resolution urges the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS) to consider the implications of adding digital asset ETFs to their investment mix.

It also asks them to closely monitor the development of bitcoin ETFs and other digital asset ETFs and to consult with fund management companies that manage such investment vehicles.

Then he wants them to present a full report on the feasibility, risk and potential benefits of putting a portion of the state retirement system's money into digital asset ETFs.

BREAKING NEWS: Arizona approves resolution in the Senate to study state pensions, buying the bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF. pic.twitter.com/B01i9iVncK

—Dennis Porter (@Dennis_Porter_) March 6, 2024

Spot bitcoin ETF Products Continue to Draw Massive Inflows

btc Spot ETF Release $332 million in net receipts on March 6, with BlackRock's IBIT ETF taking in the most with an inflow of $281 million.

ETF Store President Nate Geraci noted that total flows into spot btc ETFs in the two months following launch exceeded flows into physical gold ETFs over the past five years.

Wild statistics…

Total flows into 9 new spot bitcoin ETFs over the past 2 months exceed total flows into all physical gold ETFs over the past *5 years*.

Physical gold ETF = almost $100 billion AUM

– Nate Geraci (@NateGeraci) March 7, 2024

Also read:

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