Indiana Bill to Permit Public Fund Investments in BTC ETFs and Blockchain Integration

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Bitcoin ETFs Surge to $20 Billion in Assets, Outpacing Gold ETFs in Growth

  • HB1322 permits Indiana’s public retirement funds to invest in SEC-approved spot Bitcoin ETFs for regulated exposure.
  • The state must evaluate blockchain’s effect on efficiency, security, and cost.
  • The bill, presented on Jan 13, 2025, starts on July 1, 2025, with a blockchain report due by Oct 1, 2026.

Indiana has moved to pass House Bill 1322; the measure would permit public money to invest in approved Bitcoin exchange-traded funds and the investigation of the potential applications of blockchain technology by state agencies. Specific provisions on investment policies and blockchain-based efficiency evaluation are laid out in the bill filed by the Indiana General Assembly.

Public Fund Investments in Bitcoin ETFs

Approved Bitcoin Exchange-Traded Funds may be invested through the public employees’ retirement fund alongside the state teachers’ retirement fund and select state officers’ funds. Spot Bitcoin funds must gain U.S. Securities and Exchange Commission (SEC) approval under 15 U.S.C. 78f(b)(2) to be listed for investment in these ETFs.

Under the new bill definition, a spot Bitcoin ETF maintains Bitcoin directly while avoiding the derivative structure of Bitcoin futures ETFs. The proposed legislation outlines that the Indiana Public Retirement System (INPRS) and other state-managed funds will have the option to allocate investments into these SEC-approved spot Bitcoin ETFs, providing regulated exposure to the asset.

Blockchain Technology Assessment for State Agencies

Together with Bitcoin ETFs, the bill requires the Indiana Department of Administration to review blockchain technology’s ability to enhance governmental operations. The March 1, 2026 date marks when the government needs to issue a request for information to evaluate how blockchain technology can transform government service cost efficiency, user experience, and data security and privacy features.

State agencies like the Office of the Secretary of State and Family and Social Services merger need to team up with Workforce Development and the Department of Child Services according to this bill. 

A report compiling the findings from this request must be submitted to the Indiana Legislative Council by October 1, 2026. The legislation sets a deadline of December 31, 2026, for the expiration of this blockchain assessment requirement.

HB 1322 was introduced on January 13, 2025, when the first legislative session began by being assigned to the Government and Regulatory Reform Committee. Under the bill’s regulations, the new system will start operating on July 1, 2025.

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