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Arizona Senate Wants State Pensions To Consider Adding Bitcoin ETFs To Portfolios

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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.

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.

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