Bill > SCR1005

This concurrent resolution encourages Arizona's state retirement systems (specifically the Arizona State Retirement System and the Public Safety Personnel Retirement System) to explore potential investments in digital asset exchange traded funds (ETFs), particularly Bitcoin ETFs. The resolution acknowledges the growing significance of digital assets, noting the recent U.S. Securities and Exchange Commission approval of 11 spot Bitcoin ETFs in January 2024 and the substantial global assets under management in firms filing for such funds. The resolution specifically calls on these retirement systems to closely monitor digital asset ETF developments, consult with approved fund providers, evaluate the potential risks and benefits, and submit a comprehensive report to the State Treasurer, Senate President, and House Speaker at least three months before the next legislative session. The document highlights the evolving financial landscape, the federal government's own Bitcoin holdings, and the importance of pension funds considering diverse investment opportunities while maintaining a focus on members' best interests.

Budget and Finance, Education

https://apps.azleg.gov/BillStatus/BillOverview/81936