SECONDREGULARSESSION
HOUSECONCURRENT
RESOLUTION NO.60
102NDGENERALASSEMBLY
INTRODUCEDBYREPRESENTATIVECHRISTOFANELLI.
5507H.03I DANARADEMANMILLER,ChiefClerk
ANACT
RelatingtostateretirementinvestmentinBitcoin.
BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
WHEREAS,thelandscapeoffinancialinvestmentsisrapidlyevolvingwiththe
2adventofdigitalassetslikeBitcoin,whichhasamarketcapitalizationofapproximatelyone
3trilliondollars;and
4
5 WHEREAS,digitalassetssuchasBitcoinhavegainedsignificantinterestinthe
6realmofexchange-tradedfunds(ETFs);and
7
8 WHEREAS,largeretirementfundshavededicatedsignificantseedfundingforaspot
9BitcoinETF,signalinggrowinginstitutionalinterestinsuchinvestmentvehicles;and
10
11 WHEREAS,theglobalassetsundermanagementforfirmswhohavefiledfora
12BitcoinETFareover16trilliondollars;and
13
14 WHEREAS,theUnitedStatesSecuritiesandExchangeCommission(SEC)has
15approvedelevenspotBitcoinETFsasofJanuary10,2024,whichbegantradingonJanuary
1611,2024;and
17
18 WHEREAS,pensionfundstraditionallyhaveexposuretoadiversenumberofsectors
19oftheeconomy,includingcommoditiessuchasgoldandsilverwhicharetraditionally
20investedinviaanETF;and
21
22 WHEREAS,thefederalgovernmentholdsapproximately200,000Bitcoin;and 23
24 WHEREAS,thestateofMissourihasanobligationtoitspensioners:
25
26 NOWTHEREFORE BEITRESOLVEDthatthemembersoftheHouseof
27RepresentativesoftheOneHundredSecondGeneralAssembly,SecondRegularSession,the
28Senateconcurringtherein,herebyrecognizetheemergingroleofBitcoinandotherdigital
29assetsinthemodernfinancialecosystem,particularlyinthecontextofETFsandencourage
30stateretirementagenciestoconsidertheimplicationsofincludingadigital-assetETFintheir
31investmentportfolios;and
32
33 BEITFURTHERRESOLVEDthattheGeneralAssemblydirectsthestate
34retirementagencytoworkwiththeTreasurer'sofficetoevaluatethepotentialrisksand
35benefitsofinvestinginBitcoinanddigital-assetETFs,giventheevolvingregulatory
36landscapeandgrowingmarketcapitalization;and
37
38 BEITFURTHERRESOLVEDthattheGeneralAssemblyrequestsa
39comprehensivereportonthefeasibility,risks,andpotentialbenefitsofdirectingaportion
40ofstateretirementfundsintodigital-assetETFsbythestateretirementagencytobesubmitted
41totheTreasurer'sofficeandeachHouseandSenatecommitteeofjurisdictionthreemonths
42beforethestartofthe2025legislativesession;and
43
44 BEITFURTHERRESOLVEDthattheGeneralAssemblyrequeststhestate
45retirementagency,totheextentpracticable,consultwithfirmswhichhavebeengrantedSEC
46approvaltoofferadigital-assetETF;and
47
48 BEITFURTHERRESOLVED thattheGeneralAssemblyrequeststhe
49comprehensivereportcontainalistofoptionsandrecommendationsforhowthestate
50mightsafelyinvestinthedigitalassetclassaspartofthecomprehensivereport;and
51
52 BEITFURTHERRESOLVEDthatthisresolutionbesenttotheGovernorfor
53approvalorrejectionpursuanttotheMissouriConstitution.
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HCR60 2