Arizona’s First-in-Nation state crypto reserve fund – Second vote starts

• Arizona’s proposed Digital Assets Strategic Reserve Fund is now in its second stage of review.
• This development comes amid Governor Katie Hobbs’ continued vetoes of bipartisan bills.

Arizona’s Digital Assets Strategic Reserve Fund (SB1307) received backing from the House Committee of the Whole. 

According to the recent tweet from a renowned crypto analyst, Arizona’s SB1373 — the Strategic Bitcoin Reserve bill — has passed the House Committee and is on its way for a second Chamber vote.

The bill proposes that up to 10% of state reserve funds be invested in Bitcoin alone.

This move cements Arizona’s growing commitment to crypto adoption.

It would make Arizona one of the first U.S. states to formally adopt Bitcoin as a treasury reserve, which is another important move towards mainstream Bitcoin adoption — if passed.

This final phase involves the full House deciding whether the bill should be approved or dismissed. If approved, it would only be enacted if Governor Hobbs grants final approval.

The proposed strategic fund would be managed by the state treasurer and primarily consist of assets seized by the state, along with funds approved by the legislature.

The treasurer would be permitted to allocate no more than 10% of the fund annually into digital assets.

Additionally, a portion of the fund could be lent out to generate returns, provided it does not carry significant financial risk or burden.

Arizona aims to lead Bitcoin and crypto asset adoption in the U.S.

Arizona continues to lead in digital asset adoption among all 50 states. Similar to SB1307, the Arizona Strategic Bitcoin Reserve Act (SB1025) has also been moved to the full House for a final vote.

This proposed Bitcoin Reserve is distinct from the Digital Assets Strategic Reserve Fund. It intends to allocate 10% of public funds specifically to Bitcoin.

This allocation aims to diversify state holdings into alternative stores of value.

Elsewhere, New Hampshire and Texas have shown progress with their crypto initiatives, both entering second committee reviews.

Oklahoma, however, fell short—failing to move a similar proposal to its third reading.

This legislative momentum reflects a growing confidence in digital assets such as Bitcoin and Ethereum, nudging them closer to mainstream financial legitimacy.