In a recent development, the Arizona Senate has proposed a resolution to consider including recently-approved Bitcoin exchange-traded funds (ETFs) as potential investments for the state's retirement system. The Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS) are both seeking to add exposure to Bitcoin ETFs in their portfolios. The bill encourages the submission of a comprehensive report on the feasibility, risks, and benefits of incorporating Bitcoin ETF exposure into the retirement portfolios. Dennis Porter, CEO of the Satoshi Action Fund, believes that adding Bitcoin ETFs could significantly mitigate risks within an asset portfolio and enhance portfolio diversification. Despite the inherent volatility of cryptocurrencies, they are seen as an interesting diversification tool due to their decentralized nature and potential for high returns. [89d2d914]