Nikolas Sargeant
Kansas State Senator Craig Bowser has introduced a bill that aims to allocate up to 10% of the state’s public employee retirement funds into spot Bitcoin exchange-traded funds (ETFs). Senate Bill 34, if passed, would establish a board of trustees responsible for managing these Bitcoin-backed ETF investments. The bill also requires the board to conduct annual reviews of the program’s performance and allows the fund to hold Bitcoin ETFs even if their value exceeds the 10% threshold, as long as it aligns with the best interests of beneficiaries. This move could mark a significant shift in how public pension funds diversify their investments.
Governments Around the World Investing in Bitcoin
By introducing this bill, Kansas becomes one of the first states to consider Bitcoin ETFs as part of a public employee retirement strategy, potentially setting a precedent for other states to follow in the future. However, many governments, both national and state, have considered investing in a Bitcoin reserve.
El Salvador recently expanded its BTC reserve despite its IMF deal. The Czech Republic and Hong Kong are two other examples of places considering the implementation of a Bitcoin reserve following the election of Donald Trump.
