Florida Pushes to Add Bitcoin and Crypto ETFs to State Pension Funds

Lawmakers in Florida are looking to give the state a new kind of financial tool. A new proposal would allow pension funds and other public investment pools to put money into bitcoin and crypto exchange-traded funds. If passed, the state’s Chief Financial Officer and the State Board of Administration would be able to allocate up to 10 percent of these funds into digital assets. It’s a notable shift for a state that has typically stuck to traditional investment strategies.

Jimmy Patronis Makes the First Move

The push is being led by Jimmy Patronis, Florida’s CFO and Fire Marshal. He sent a formal request asking the State Board of Administration to take a serious look at bitcoin as part of the state’s investment portfolio. In his view, bitcoin has earned its place as “digital gold” and could offer long-term protection against market swings.

BREAKING: Florida just put $BTC Bitcoin on the table for its pension fund.

House Bill 183 would let the state invest up to 10% of public funds (including pensions) in crypto, ETFs, and tokenized assets.

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