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The Arizona State Senate passed a resolution to encourage state pensions to consider adding spot Bitcoin ETFs (exchange-traded funds) and other digital asset ETFs into their investment portfolios.
The 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 developments in Bitcoin ETFs and other digital asset ETFs and to consult with the fund management firms that manage such investment vehicles.
It then wants them to submit a comprehensive report on the feasibility, risk and potential benefits of directing a portion of state retirement system monies into digital asset ETFs.
BREAKING: Arizona passes a resolution in the Senate to have the state pensions’ study, purchasing the #bitcoin ETF. pic.twitter.com/B01i9iVncK
— Dennis Porter (@Dennis_Porter_) March 6, 2024
Spot Bitcoin ETF Products Continue To Attract Massive Inflows
Spot BTC ETFs posted $332 million in net inflows on March 6 with BlackRock’s IBIT ETF securing the most with an inflow of $281 million.
The President of ETF Store, Nate Geraci, noted that the total flows into spot BTC ETFs in the two months after launch exceeded flows into physical gold ETFs in the last five years.
Wild stat…
Total flows into 9 new spot bitcoin ETFs over past 2mos exceeds total flows into all physical gold ETFs over past *5yrs*.
Physical gold ETFs = nearly $100bil AUM
— Nate Geraci (@NateGeraci) March 7, 2024
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