Kansas Proposes Pioneering 10% Bitcoin ETF Investment for Pension Fund
A groundbreaking proposal is on the table in Kansas. State representative Troy Findley has put forth a bill that could see the Kansas Public Employees Retirement System (KPERS) investing up to 10% of its funds in Bitcoin ETFs. This move, if approved, could mark a significant shift in pension fund management across the US.
The initiative is championed by state senator Craig Bowser and introduced as Senate Bill 34. It's part of a wider trend, with several US states exploring the potential of cryptocurrencies in their investment strategies. Kansas' proposal, if successful, could position the state as a pioneer in integrating cryptocurrencies into the public sphere.
The proposal seeks to authorize KPERS to invest in Bitcoin ETFs traded on regulated US exchanges and issued by companies registered in Kansas. The KPERS board of trustees would oversee these investments, with a cap of 10% of the fund allocated to Bitcoin ETFs. The Trump administration's support for the regulation of cryptocurrencies and financial innovation could influence the approval and adoption of this proposal.
If approved, Kansas could pave the way for other states to follow suit, sparking a national debate on investment diversification with cryptoassets. This move could potentially reshape pension fund management in the US, with Kansas at the forefront of this innovative approach.
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