Arizona’s bid to pioneer crypto integration at the state level is gaining traction. The Strategic Digital Assets Reserve Bill (SB 1373) passed a major legislative milestone on April 17, securing approval from the House Committee of the Whole—an internal review involving all 60 House members. The bill now advances to a final reading and floor vote, after which it may head to Governor Katie Hobbs for signature.
The legislation would authorize the Arizona State Treasurer to create a Digital Assets Reserve Fund, allowing up to 10% of holdings to be invested annually in digital assets. It would also permit the treasurer to loan fund assets to generate additional yield, provided such activities don’t introduce excessive financial risk.
Still, its path forward remains uncertain. Governor Hobbs has expressed reluctance to advance bills until specific budgetary concerns are resolved. She vetoed 15 bills this week alone, including bipartisan proposals—raising questions about whether SB 1373 will make it past her desk.
Arizona Advances Second Bill for Bitcoin Reserves
Arizona is also leading the charge to institutionalize Bitcoin specifically. Alongside SB 1373, lawmakers are pushing SB 1025—the Arizona Strategic Bitcoin Reserve Act—which would authorize the state treasury and retirement system to allocate up to 10% of their funds into Bitcoin alone.
SB 1025 passed through the House Committee of the Whole on April 1 and now awaits a full floor vote. If enacted, it would make Arizona the first U.S. state to formally endorse Bitcoin as a strategic component of its public investment portfolio.
Other states have explored similar paths with mixed results. Texas advanced a comparable bill through its Senate in March, while New Hampshire passed its version through the House. Utah originally proposed a Bitcoin reserve but stripped the language in the final draft.
Despite Arizona’s legislative momentum, some analysts believe Texas may have a procedural advantage, with fewer roadblocks slowing its proposal. Nonetheless, Arizona’s dual-track effort reflects a unique and coordinated push to integrate blockchain-based finance at the state level.
State-Level Bitcoin Adoption Rises With National Support
Arizona’s efforts reflect a broader state-led trend toward integrating digital assets into public finance. As governments confront inflation and search for alternative stores of value, Bitcoin is increasingly viewed not just as a speculative asset but as a viable reserve option.
That momentum was further accelerated by President Donald Trump, who earlier this year signed an executive order to establish a national Bitcoin reserve. The plan includes not only Bitcoin and Ether, but also other digital assets like XRP, Solana, and Cardano.
Quick Facts
- Arizona’s SB 1373 and SB 1025 propose digital asset reserves for the state
- SB 1373 has passed committee review; SB 1025 awaits a final vote
- Governor Hobbs has vetoed 15 bills this week, posing obstacles
- Arizona leads state-level efforts to adopt blockchain finance strategies
