Arizona Eyes First State-Run Crypto Reserve Fund
Key Takeaways
Arizona is on the verge of becoming the first U.S. state to establish a government-run crypto reserve fund. Bill SB1307 has already been approved by the relevant committee and is now awaiting a final vote in the House of Representatives. If passed, the bill would still require the approval of Governor Katie Hobbs. However, she has repeatedly stated that she will block legislation unless there is progress in funding disability programs. The fund is intended to include digital assets such as Bitcoin and would be managed by the State Treasurer.
What is Behind the Digital Assets Strategic Reserve Fund?
Bill SB1307 proposes the creation of a state crypto reserve fund in Arizona. The goal is to invest a portion of the state’s reserves in digital assets. The fund would be managed by the State Treasurer. The resources would primarily come from confiscated assets and funds approved by the legislature.
Up to 10% of the fund’s volume may be invested in cryptocurrencies annually. Additionally, parts of the fund may be loaned out to generate returns—but only if there is no significant financial risk involved.
Political Hurdles Slowing Progress
Despite committee approval, the project remains on shaky ground. Governor Katie Hobbs has previously rejected legislative proposals when there was no progress on funding disability programs. Just last week, she blocked 15 legislative initiatives. If the legislature fails to meet her conditions, SB1307 could also face a veto.
Rising Bitcoin Interest Amid Legislative Debate
While the political debate in Arizona continues, market interest in Bitcoin is growing. The so-called Coinbase Premium Index, an indicator of institutional investor demand in the U.S., has slightly increased. This suggests heightened Bitcoin purchases—possibly in response to the potential government involvement in digital assets.
More Crypto Initiatives in Arizona and Other States
In addition to SB1307, Arizona is also pursuing a second bill: the Strategic Bitcoin Reserve Act (SB1025). This bill proposes investing 10% of public funds exclusively in Bitcoin. This would mean Arizona is not only investing in digital assets generally, but specifically in Bitcoin as a store of value.
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Other states are also showing increasing interest in cryptocurrencies. New Hampshire and Texas are in the second review phase of similar legislative proposals. Oklahoma, on the other hand, failed to advance a comparable project beyond the third reading.
Our Assessment
With the Digital Assets Strategic Reserve Fund, Arizona could take a pioneering role in government-level crypto adoption. The proposed structure appears well-thought-out: limited investment quotas, a focus on security, and income generation. However, political resistance remains a key uncertainty. For those interested in crypto, this shows that interest in digital assets is growing not only among private investors but also at the government level. Developments like these could contribute to the long-term legitimization of cryptocurrencies. We are closely monitoring the final vote—as it could set a precedent for other states.
Sources
- CryptoQuant
- Bitcoin Laws
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