North Carolina House of Representatives Introduces New Bill Seeking to Invest Up to 10% of Public Funds in Bitcoin ETFs

Odaily News North Carolina Representative Deborah Ross has introduced a new bill that would require the state treasurer to invest up to 10% of state funds and pension systems (more than $10 billion) in a Bitcoin ETF.
While the draft legislation does not mention bitcoin specifically, it proposes that state treasurers invest in exchange-traded products that track digital assets with an average market value of at least $750 billion over the past 12 months.
More than a dozen U.S. states have proposed bills to invest public funds in digital assets such as Bitcoin or stablecoins, with Montana, Maryland, and Kentucky just filing such bills last week. However, the scope and depth of these proposed investments vary from state to state, with some states allowing direct investment in cryptocurrencies and some even mentioning Bitcoin directly. (Decrypt)