Key Takeaways
- Indiana's HB 1322 allows pension funds to invest in Bitcoin ETFs.
- The bill mandates a statewide study on blockchain for government use.
- The proposal follows similar Bitcoin initiatives in multiple U.S. states.
Indiana lawmakers have introduced House Bill 1322 (HB 1322), which would permit the state’s public employees’ retirement fund, state teachers’ retirement fund, and other public officers to invest in approved Bitcoin exchange-traded funds (ETFs).
ETF investment details
The bill, sponsored by Representatives Jake Teshka, Shane Lindauer, and Cory Criswell, specifically defines an “approved Bitcoin exchange traded fund” as a spot Bitcoin ETF that has been approved for listing by the U.S. Securities and Exchange Commission (SEC).
The legislation clarifies that Bitcoin ETFs based on futures contracts are not included.
The bill states:
The board may invest or reinvest funds that are held by the board and available for investment in approved Bitcoin exchange traded funds.
If passed, this provision would go into effect on July 1, 2025.
Blockchain research initiative
Beyond Bitcoin ETFs, the bill mandates a statewide study on blockchain technology.
By March 1, 2026, Indiana’s Department of Administration must issue a request for information on how blockchain could be used to improve government services.
According to the bill, this includes ways to…
… achieve greater cost efficiency and cost effectiveness while also enhancing consumer convenience, experience, data security, and data privacy.
Participating agencies
The research will involve key state agencies, including:
- The Office of the Secretary of State
- The Department of Workforce Development
- The Department of Child Services
- The Secretary of Family and Social Services
Timeline & deliverables
By October 1, 2026, the department must compile a report with findings and recommendations for the legislative council.
The study provisions will expire on December 31, 2026.
National context
Indiana’s proposal follows similar legislative moves in Michigan, Utah, Arizona, and California, reflecting a growing interest in Bitcoin among U.S. states.
If passed, this bill would position Indiana among the first states to formally integrate Bitcoin ETFs into public retirement funds.
Current status
HB 1322 is currently under review by the Committee on Government and Regulatory Reform.
