BTC News Today: Florida Proposal Sparks Major Shift: Bitcoin and ETFs for State Funds

HB 183 in Florida suggests the investment of 10 percent of the state and pension money in bitcoin and ETFs, which is an indication of a daring step in managing public assets.

The state of Florida is going to extremes with a new legislative proposal. House Bill 183 (HB 183) is aimed at permitting the Chief Financial Officer (CFO) and the pension board in the state to invest in bitcoin and exchange-traded funds (ETFs) up to 10 percent of identified funds in the state. 

This radical action would transform the management of the public money, incorporating digital assets in addition to the traditional investment.

A Groundbreaking Move in Public Fund Strategy

HB 183 allows Bitcoin and digital assets to be included in the financial toolkit of the state.  The bill authorizes the CFO to invest part of the General Revenue Fund, Budget Stabilization Fund, and other trust funds in digital assets. 

It further permits the State Board of Administration to invest up to 10 percent of the Florida Retirement System Trust Fund in these assets.

The bill defines digital assets in broad terms, including bitcoin, tokenized securities, and non-fungible tokens (NFTs). 

Stringent custody and control conditions provide strong supervision. The CFO, qualified custodians, or SEC-registered ETFs can hold assets.

Bitcoin as a New Hedge and Payment Option

The bill demonstrates how state funds can adopt Bitcoin to preserve value and guard against inflation.

It refers to a March 2025 White House executive order, which established a federal Strategic Bitcoin Reserve as the policy impetus, indicating a federal acknowledgement.

The bill would allow Floridians to pay certain taxes and fees with digital assets, which the state would convert into dollars and deposit into its general fund. It brings in a new mechanism of state involvement in digital finance.

Renewed Momentum for Bitcoin Reserve Legislation

The Florida proposal is the extension of a wave of such efforts by the U.S. states. Lawmakers passed identical bills in Arizona, New Hampshire, and Texas, but rejected them in other states.

Experts forecast further growth of such laws, though there are conflicting indications on the extent of the federal Strategic Bitcoin Reserve.

The project renders Florida among the first to implement blockchain technology in government finance, which can add liquidity in the crypto market and encourage other states to do the same.

HB 183 is moving through committee review and awaits passage in the Florida Senate before reaching the governor’s desk.

Upon implementation, it would take effect on July 1, 2026, and be a significant benchmark toward diversifying public assets and crypto integration.

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