The Arizona state Senate has advanced a resolution that would have lawmakers and state retirement fund managers look into allocating a portion of portfolios to bitcoin ETFs. 

The concurrent resolution, introduced less than a month after the US Securities and Exchange Commission allowed bitcoin ETFs to start trading, seeks to “encourage” the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS) to monitor these new investment vehicles and consider adding exposure, according to a fact sheet.

The state Senate passed the resolution in a 16-13 vote late last month. Senators followed party lines, with all Democrats voting against the measure….

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