Florida proposal puts bitcoin and ETFs on the menu for state and pension funds

Florida lawmakers have opened the 2026 legislative session with a bid to add bitcoin to the state’s toolkit.

House Bill 183, filed in the Florida House, would allow the state’s chief financial officer to invest up to 10% of money in specified public funds — including the General Revenue Fund, the Budget Stabilization Fund, and various trust funds — in “digital assets” and exchange-traded products.

If passed, the measure would also authorize the State Board of Administration to invest up to 10% of the Florida Retirement System’s System Trust Fund in digital assets.

The bill defines digital assets to include bitcoin, tokenized securities, and NFTs, with strict custody and control requirements. Assets may be held by the CFO, a qualified custodian, or through an SEC-registered ETF.

HB 183 frames bitcoin as a potential store of value and hedge against inflation for state funds, and cites a March 2025 White House executive order creating a federal “Strategic Bitcoin Reserve” and digital-asset stockpile as policy backdrop. The bill sets an effective date of July 1, 2026.

The bill would also allow Floridians to pay certain taxes and fees in digital assets. Those payments would be converted to dollars and transferred to the state’s general fund.

Race resumes

Florida’s move follows a wave of similar state-level bitcoin reserve legislation in 2025. Arizona, New Hampshire, and Texas enacted similar measures in the first half of the year, while dozens of other bills stalled as sessions ended. 

"Most of the failed bills you see are because the state legislatures adjourned for the session,” Julian Fahrer, founder of tracking site Bitcoin Laws, told The Block. “More than 50 reserve bills were introduced across the nation this year. I expect that number to grow next session."

Fahrer said mixed messaging around the federal Strategic Bitcoin Reserve — which Treasury Secretary Scott Bessent clarified in August would consist only of seized bitcoin, not new purchases — didn’t slow momentum at the state level. “If anything, it validated the concept and put pressure on states to catch up,” Bessent said.

HB 183 now awaits committee assignment and hearings in the House. If advanced, it would still need Senate approval and the governor’s signature to become law.