Indiana’s HB 1042 bill cleared both legislative chambers and is now awaiting the governor’s signature. The program was built to offer crypto exchange-traded funds, or ETFs, as regular investment options.
Indiana public funds to invest in crypto ETFs
The HB1042 bill was proposed by the State Representative Kyle Pierce, R. Anderson, in the legislation during the House Financial Institutions Committee meeting to expand the cryptocurrency investment opportunities within the state retirement programs and strengthen the state’s role in the global market for digital asset technology.
The bill, introduced by Kyle, permits public investment funds to engage in the digital currency sector by investing in cryptocurrency ETFs, authorizing the treasurer of the state to use designated fund assets to invest in stablecoin ETFs.
According to the bill, to make this possible, the state is required to establish investment programs, including 529 education savings plans and specific retirement funds for teachers, public employees, and legislators.’
Additionally, the legislation permits investment funds based in other states to assign assets to crypto ETFs.
Pierce described the bill in an official statement last December: “This bill gives Hoosiers more investment choices while establishing guardrails and helping us explore how blockchain and digital asset technology can benefit communities across our state.”
Global acceptance of digital currency bills
As of 2026, cryptocurrency is mostly legal in 45 nations, supported by clear regulatory frameworks or active bills.
The 2025 report by the Financial Action Task Force (FATF) shows that 99 jurisdictions are either accepting or in the process of passing legislation to implement the ‘Travel Rule.’ This rule requires that Virtual Asset Service Providers (VASPs) collect and share identity data for cryptocurrency transfers to avoid any frauds, including money laundering and terrorist financing.
