"Bitcoin's Global Surge: Illinois Joins Reserve Race, El Salvador Doubles Down, Grayscale Launches Mining ETF"

The Global Bitcoin Race Accelerates

Bitcoin's global influence continues to grow, with states, nations, and institutions increasingly embracing the cryptocurrency. Recent developments highlight the accelerating pace of Bitcoin adoption worldwide.

Illinois Joins the Bitcoin Reserve Trend

Illinois has become the latest state to propose a Bitcoin reserve, joining a growing list of states advancing similar bills. State Representative John Cabello introduced House Bill 1844 (HB1844), which would establish a Strategic Bitcoin Reserve Fund under the state treasury. If passed, the Illinois State Treasurer would manage the fund, with all Bitcoin deposits held for at least five years before the state could transfer, sell, or convert any Bitcoin to another cryptocurrency. The number of state-level Bitcoin reserve proposals has grown since President Donald Trump returned to the White House, with at least six states introducing or advancing similar bills in January alone.

El Salvador Strengthens Bitcoin Commitment Amid IMF Deal

El Salvador's Congress approved amendments to its Bitcoin law, aligning with conditions set by a $1.4 billion loan agreement with the International Monetary Fund (IMF). The legislation, sent by President Nayib Bukele, was ratified on January 29, with 55 lawmakers voting in favor and only two opposing. This reform lifts the previous legal obligation for private businesses to accept Bitcoin as payment, making its usage optional and voluntary. Despite IMF pressures to reduce exposure to cryptocurrency, El Salvador continues to strengthen its Bitcoin position, recently acquiring an additional 12 BTC, adding to its strategic reserves. As of now, El Salvador holds 6,049 BTC, valued at approximately $633 million. The Bukele administration appears determined to balance international financial obligations with its pro-crypto stance.

Grayscale Launches Bitcoin Miners ETF, Tapping into Global Mining Ecosystem

Grayscale, a leading asset management firm specializing in crypto investing, has launched its Bitcoin Miners ETF, focusing on global mining companies. The ETF, trading under the ticker MNRS, invests in companies that derive most of their revenue from Bitcoin mining activities or businesses providing Bitcoin mining services. The fund also includes firms offering Bitcoin mining infrastructure, such as data center hosting services, hardware manufacturers, and software providers. The Indxx Bitcoin Miners Index, as of