According to the source, Michigan House Bill 4087 advanced to a House second reading and was referred to the Committee on Government Operations, signaling renewed legislative momentum for a state-level crypto allocation framework; source: Michigan Legislature HB 4087 bill history. The measure authorizes investing up to 10% of eligible state funds in cryptocurrency if enacted, defining a ceiling for treasury exposure to digital assets; source: Michigan Legislature HB 4087 bill text. If passed, such authorization could expand institutional access and demand for BTC and ETH by enabling state treasury allocations, echoing the allocation channels observed after US spot Bitcoin ETFs launched; sources: BlackRock iShares Bitcoin Trust product updates and SEC EDGAR filings for spot Bitcoin ETFs.