North Carolina lawmakers are considering a proposal to invest public funds into exchange-traded products (ETPs), aiming to allocate up to 10% of state funds, exceeding $10 billion, into Bitcoin ETPs. Although the bill, introduced by Rep. Deborah Ross, does not explicitly mention Bitcoin, it specifies investments in digital assets with a minimum market capitalization of $750 billion, which currently only applies to Bitcoin. Similar efforts have emerged in other states, with a mix of proposed regulations and investments related to digital assets. Previous legislative efforts have seen North Carolina focus on pro-crypto initiatives, such as a bill blocking the acceptance of central bank digital currencies. However, some legislators have pushed back, seeking to impose restrictions on cryptocurrency mining in certain counties. The proposed bill allows the State Treasurer to invest directly in these products or through third-party arrangements, requiring annual audits unless waived after a cost-benefit analysis.

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