Illinois Bill Proposes Public Fund Investments in Bitcoin Stocks

2026-03-31 20:12

Illinois State Senator Steve McClure has introduced Bill SB3672, aiming to allow public institutions to invest up to 5% of their funds in bitcoin-related financial products. The proposed "Local Government Digital Asset Investment Act" seeks to amend the state's Public Funds Investment Act, enabling investments in digital asset equities. These equities must be shares of publicly traded companies with at least 25% of their assets in bitcoin or other digital currencies, as verified by audited financial statements. Companies like Strategy, Twenty One Capital, Metaplanet, and Semler Scientific could qualify under this criterion. The bill also includes provisions for investing in bitcoin ETFs and bonds, alongside transparency requirements.

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