North Carolina lawmaker proposes new bill seeking to invest up to 10% of public funds in Bitcoin ETFs

2025-02-11 08:54:21

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ChainCatcher news, according to Decrypt, North Carolina Representative Deborah Ross has introduced a new bill seeking to have the state treasurer invest up to 10% of funds (over $10 billion) from the state’s funds and pension systems into a Bitcoin ETF.

Although the legislation does not specifically mention Bitcoin, it proposes that the state treasurer invest in exchange-traded products that track digital assets, which have had an average market capitalization of at least $750 billion over the past 12 months.

Currently, more than a dozen states in the U.S. have proposed bills to invest public funds in digital assets such as Bitcoin or stablecoins. Last week, Montana, Maryland, and Kentucky just submitted such bills. However, the scope and depth of these proposed investments vary by state, with some states allowing direct investment in cryptocurrencies, while others even specifically mention Bitcoin.

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