The Arizona Senate passed a resolution encouraging pension funds in the state to consider including spot Bitcoin ETFs (exchange-traded funds) and other digital asset ETFs in their portfolios.
The resolution urged the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS) to consider the impact of adding digital asset ETFs to their portfolios.
It also asks them to closely monitor the development of bitcoin ETFs and other digital asset ETFs and consult with fund management companies that manage such investment vehicles.
It then wants them to submit a comprehensive report on the feasibility, risks and potential benefits of investing a portion of state retirement system funds in digital asset ETFs.
[Breaking: Arizona Senate passes a resolution requiring state pension funds to study the purchase of Bitcoin ETFs. ]
On March 6, spot Bitcoin ETF products continued to attract large-scale capital inflows, among which BlackRock's IBIT ETF ranked first with an inflow of US$281 million.
Nate Geraci, president of ETF Store, noted that total inflows into spot Bitcoin ETFs within two months of launch exceeded the inflows into gold ETFs over the past five years.
Surprising statistics…
There have been 9 new spot Bitcoin ETFs in the past two months, with total inflows exceeding the total inflows of all physical gold ETFs in the past 5 years.
Physical gold ETFs = nearly $100 billion in AUM.
[Also read: Bitcoin Price Prediction: El Salvador Bitcoin Profits Exceed $50 Million, Analysts Say Consider Buying This Green Bitcoin Presale to Get 10 Times the Gain]
[Spot Bitcoin ETF trading volume reaches a record high of $10 billion, and Bitcoin has experienced roller coaster-like fluctuations]
[Bitcoin ETF giant Grayscale launches crypto lock-up fund to provide income for investors]
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