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New Kansas law proposes to invest the state's public employees' pension fund in a bitcoin ETF

On January 23rd, Kansas Senator Bowser introduced Senate Bill 34, which aims to invest public employees' retirement funds in bitcoin ETFs. According to the text of the bill, the bill intends to authorize the Kansas Public Employees' Retirement System (KPERS) Trust Board to invest up to 10% of the funds of the Kansas Public Employees' Retirement Fund in bitcoin ETF products.