Arizona’s push to integrate digital assets into state financial infrastructure is nearing a critical milestone as the crypto reserve bill moves ahead.
The state’s Strategic Digital Assets Reserve Bill (SB 1373) passed the House Committee of the Whole on April 17 and now awaits one final vote before heading to Governor Katie Hobbs for approval.
Additionally, the treasurer could lend out fund assets to generate returns, provided this does not elevate financial risk. Despite clearing the House committee stage, the bill’s path forward remains uncertain.
The fund would be managed by Arizona’s state treasurer, who would be authorized to invest up to 10% of its total balance in digital assets each fiscal year.
This bill would allow Arizona’s treasury and state retirement fund to invest up to 10% of available assets specifically in Bitcoin. While Utah passed Bitcoin-related legislation in early March, it removed the Bitcoin reserve provision during final approval.
SB 1373 is advancing in parallel with another digital asset-focused proposal, the Arizona Strategic Bitcoin Reserve Act (SB 1025).
She has already rejected 15 bills this week and has previously exercised veto power on several House-approved proposals.
According to crypto asset manager Bitwise, total corporate Bitcoin holdings climbed to approximately 688,000 BTC by the end of Q1, with companies adding 95,431 BTC over the three-month period. Bitwise reported the combined value of these holdings reached $56.7 billion, based on a Q1 closing price of $82,445 per Bitcoin—representing a 2.2% increase in value.
Publicly traded companies increased their Bitcoin holdings by 16.1% in the first quarter of 2025, signaling continued institutional interest in the leading cryptocurrency despite market volatility.
