Indiana Senate Committee Advances Revised Bill to Allow Crypto Options in Public Retirement Plans

On Feb. 12, 2026, the Indiana Senate Committee on Insurance and Financial Institutions advanced a revised House Bill 1042 that would permit cryptocurrency investment options within certain state-administered retirement plans; the revision removed language that would have allowed direct state investment in crypto ETFs and instead limits public workers’ crypto access to self-directed brokerage accounts ^[1][4].

Reporting indicates the bill would allow some public pension funds or retirement programs to offer crypto options, including ETFs, though proponents and sponsors have emphasized differing points about control: Rep. Kyle Pierce said participants in eligible plans do not get to choose how investments are managed, while investment officials noted extensive collaboration with the House to reach the bill’s current form ^[2][3].

The changes narrow the proposal’s scope from direct state purchases of crypto products to enabling crypto exposure through participant-directed mechanisms, reflecting a compromise reached during committee consideration ^[1].

The committee’s action advances HB1042 for further consideration, with its final form focused on individual retirement choice via self-directed accounts rather than state-held crypto ETFs ^[1][4].