Quick Breakdown
- Florida introduces bill to invest public funds in Bitcoin and ETFs.
- The proposal includes crypto payments for taxes and fees.
- Bill sets custody safeguards and expands to NFTs and tokenized assets.
Florida lawmakers have introduced a landmark proposal to allow the state to invest a portion of its public funds in Bitcoin and related exchange-traded funds (ETFs), signaling a potential shift toward digital assets in government finance.
Bill proposes 10% allocation to bitcoin and ETFs
House Bill 183, presented at the 2026 legislative session, authorizes Florida’s Chief Financial Officer (CFO) to allocate up to 10% of specific public funds — including the General Revenue Fund and the Budget Stabilization Fund — into Bitcoin and crypto-based ETFs. The proposal also extends similar investment guidelines to the state’s retirement system, subject to strict limitations and risk management protocols.
The legislation outlines clear safeguards for digital asset custody, mandating that all crypto holdings be managed by the CFO through qualified custodians. This structure aims to align with federal compliance standards and institutional best practices.
Former CFO Jimmy Patronis, a vocal Bitcoin advocate, previously urged the state to integrate Bitcoin into its pension funds, calling it “digital gold” that could strengthen Florida’s financial resilience and diversify its portfolio.
Digital payments and broader crypto scope
Beyond investments, the proposed bill introduces a framework for Floridians to pay certain taxes and fees using digital assets. These payments would be automatically converted to U.S. dollars before being deposited into the state’s general revenue fund, ensuring seamless fiscal integration.
The bill also broadens the definition of digital assets beyond Bitcoin, encompassing tokenized securities and non-fungible tokens (NFTs). Lawmakers argue that this flexibility would position Florida as a leading state in blockchain adoption while maintaining fiscal prudence.
If passed, Florida would become one of the first U.S. states to formally integrate Bitcoin into its treasury and retirement portfolios — a move that could accelerate digital asset adoption at the state level.
Republican Senator Joe Gruters, who introduced the measure, described the bill as a forward-looking reform that “bridges traditional finance and the digital economy.”
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