Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
New Jersey wants to invest city pension fund in crypto ETFs

New Jersey wants to invest city pension fund in crypto ETFs

Cryptopolitan2024/07/25 22:52
By:By Jai Hamid

Share link:In this post: Jersey City plans to invest part of its pension fund in Bitcoin ETFs, following a similar move by Wisconsin’s pension fund. Cities like Los Angeles, Houston, and Nashville are already deep into cryptocurrency, with LA having the most Bitcoin ATMs worldwide. States like Wyoming and Texas are creating friendly environments for crypto businesses, while Miami is embracing the trend with its MiamiCoin.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no

Mayor Steven Fulop of Jersey City has announced plans to invest part of the city’s pension fund into Bitcoin ETFs. In a post on X, he stated that:

“Not my normal subject matter in a post but I’ll share anyway – the question on whether Crypto/Bitcoin is here to stay is largely over + crypto/Bitcoin won.”

The city is working on paperwork with the SEC to allocate a percentage of the pension fund to Bitcoin ETFs, hoping to complete it by the end of the summer. 

This follows the Wisconsin Pension Fund’s lead, which has already put 2% of its assets into Bitcoin ETFs. Fulop is optimistic, saying: 

“I’ve been a long-time believer (through ups/downs) in crypto but broadly, beyond crypto, I do believe blockchain is amongst the most important new technology innovations since the internet.”

Jersey City isn’t the only place getting cozy with crypto. Over in Los Angeles, the crypto scene is booming. The city has more than 1,710 Bitcoin ATMs—the most in the world—and a growing number of businesses dealing in blockchain. 

Companies like Blockchain Council and Genesis Lab are buzzing with activity, making LA a legit crypto hub. Houston, Texas, is also making waves. It has 1,339 Bitcoin ATMs, ranking second worldwide. 

The city’s crypto ecosystem includes over 200 merchants accepting Bitcoin. Wyoming has been ahead of the curve with crypto-friendly laws.

The state has passed several pieces of legislation recognizing cryptocurrency as property and even created a new type of bank charter specifically for crypto businesses.

New Jersey wants to invest city pension fund in crypto ETFs image 0

This has attracted a host of startups. In Texas, the story is similar but with a twist. The state has passed laws clarifying the legal status of cryptocurrencies, making it a welcoming environment for Bitcoin mining operations. 

Texas’s abundant energy resources are a big draw for these activities. Governor Greg Abbott has been very open about his support for cryptocurrency.

Miami is another city going full throttle on crypto. Mayor Francis Suarez is a big fan, advocating for Bitcoin and even launching MiamiCoin, the city’s cryptocurrency. Miami has become a hotspot for major crypto conferences, drawing attention from around the world.

Last, we have Nashville. The city is currently hosting the Bitcoin2024 conference, attracting Donald Trump, Robert F. Kennedy Jr., and Senators Marsha Blackburn and Bill Hagerty to attend. Nashville even has Bitcoin Park, a private space dedicated to crypto lovers.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!