Kansas proposes bill to invest up to 10% of retirement money in Bitcoin ETFs

Source Cryptopolitan

Kansas State may adopt a proposal to invest up to 10% of employee retirement funds into spot Bitcoin exchange-traded funds (ETFs) if State Senator Craig Bowser’s bill passes.

Senator Bowser introduced Senate Bill 34, which clears the Kansas Public Employees Retirement System (KPERS) to invest part of the retirement fund in spot Bitcoin ETF.

The bill would establish a board of trustees to spend up to 10% of the money in the state’s retirement fund on Bitcoin-backed ETFs. Part of the bill reads, “… the board may invest and reinvest monies of the fund in Bitcoin exchange-traded products issued by an investment company registered in Kansas.”

Annual performance monitoring will be carried out to ensure sustainability

The program is open to growing the value of Bitcoin ETFs beyond 10% of the fund. The Board of Trustees is not mandated to sell unless the sales are made with the fund’s beneficiaries in mind.

Furthermore, the governing body would be in charge of conducting annual scrutiny of the investment program to ascertain whether it is moving in the best direction.

Although the bill must overcome legislative steps to operate, it is a bold move and a motivation for Kansas Bitcoin lovers. If it becomes a law, it will set precedents for other states in the US.

The bill, introduced on January 16, has been in the hands of the House Committee on Financial Institutions and Insurance since January 17. 

Kansas bill to cap crypto donations at $100 faces delays

In 2023, lawmakers in the Kansas parliament introduced a bill to limit political crypto donations to $100, depending on the fair market value of the digital asset upon receipt. 

The bill further directed that any crypto donations must be converted into US dollars upon receipt without holding the asset. However, the bill collapsed because it didn’t keep up with timelines.

While Senate Bill 34 has been handed to the committee, four critical steps await it before it’s handed over to the House of Representatives. Similarly, it will be subjected to a similar process in the House, and should it pass, it will be forwarded to the governor for final approval or rejection.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Nvidia stock sinks 4% as Trump’s tariff plans rattle AI tradeNvidia shares fell over 4% early Monday after US President Donald Trump delivered a stern message about trade tariffs. Trump said on Sunday that no country would be given any special treatment regarding tariffs. He also signed new trade policies into effect on April 2, which he calls “Liberation Day.” This frightened investors, who had […]
Author  NewsBTC
Apr 01, Tue
Nvidia shares fell over 4% early Monday after US President Donald Trump delivered a stern message about trade tariffs. Trump said on Sunday that no country would be given any special treatment regarding tariffs. He also signed new trade policies into effect on April 2, which he calls “Liberation Day.” This frightened investors, who had […]
placeholder
Bitcoin Price Bounces Back—Can It Finally Break Resistance?Bitcoin price started a recovery wave above the $83,500 zone. BTC is now consolidating and might struggle to settle above the $85,500 zone. Bitcoin started a decent recovery wave above the $83,500
Author  NewsBTC
23 hours ago
Bitcoin price started a recovery wave above the $83,500 zone. BTC is now consolidating and might struggle to settle above the $85,500 zone. Bitcoin started a decent recovery wave above the $83,500
placeholder
Bitcoin Price Struggling but Short-Term Holders Might Be Setting the Stage for $150KBitcoin has recently displayed signs of upward momentum, trading at $85,215, marking a 2.2% increase in just the past day. Despite this short-term gain, the asset remains down by over 21.2% from its
Author  NewsBTC
18 hours ago
Bitcoin has recently displayed signs of upward momentum, trading at $85,215, marking a 2.2% increase in just the past day. Despite this short-term gain, the asset remains down by over 21.2% from its
placeholder
U.S. March Nonfarm Payroll Preview: Even If Data Aligns with Expectations, Financial Markets May Not Escape the Fate of VolatilityOn 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
Author  TradingKey
18 hours ago
On 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
placeholder
Gold price stabilizes ahead of Trump's tariffs announcement on “Liberation Day”Gold price (XAU/USD) stabilizes just above $3,130 at the time of writing on Wednesday following a mean reversal move the prior day after a fresh all-time high got eked out at $3,149 before closing in negative territory.
Author  FXStreet
17 hours ago
Gold price (XAU/USD) stabilizes just above $3,130 at the time of writing on Wednesday following a mean reversal move the prior day after a fresh all-time high got eked out at $3,149 before closing in negative territory.
goTop
quote