Arizona is moving closer to becoming the first state to establish a strategic digital asset reserve after both of its Bitcoin reserve bills cleared the House Rules Committee.
The two proposals, SB 1373 and SB 1025, share the common goal of creating digital asset reserves but differ in their objectives and funding structures.
SB 1373, known as the Strategic Digital Assets Reserve Bill, would authorize the state treasurer to manage a fund composed of confiscated digital assets. Under this bill, up to 10% of the fund’s value could be invested annually, with provisions allowing the issuance of loans as long as financial risks remain controlled. Meanwhile, SB 1025, the Arizona Strategic Bitcoin Reserve Act, focuses exclusively on Bitcoin. It would permit the state treasury and retirement system to allocate up to 10% of available funds to Bitcoin while requiring that the asset be securely stored in a segregated federal reserve account.
If these bills pass the full House vote, they will proceed to Governor Katie Hobbs for final approval, marking the last stage of the legislative process. However, their fate remains uncertain.
According to a March 25 post by Bitcoin Laws on X, the bills stand a strong chance of passing in the House due to the Republican majority but may face resistance at the governor’s desk. Governor Hobbs has a history of vetoing Republican-led bills and has already rejected 22% of legislation in 2024—the highest rate of any U.S. governor.
???????? State Reserve Race Update:
Arizona’s House Rules Committee passed both Bitcoin Reserve Bills (SB1373 and SB1025), ruling them “constitutional and in proper form.”
The bills have now passed their assigned committees, meaning they should be headed for a full floor vote. pic.twitter.com/suuxXCifP3
— Bitcoin Laws (@Bitcoin_Laws) March 24, 2025
Despite potential challenges, Arizona remains at the forefront of the push for a state-backed Bitcoin reserve. Data from Bitcoin Laws, as of March 25, positions Arizona as the leader in this effort, with Oklahoma and Texas trailing closely behind.
Meanwhile, other states are making progress on similar initiatives. On March 25, Oklahoma’s House approved its Bitcoin Reserve Bill (HB1203) with a strong 77–15 vote, advancing it to the state Senate for further deliberation.
HB 1203 Bitcoin Strategic Reserve has passed the House in Oklahoma 77-15! ????????
Huge congratulations to Rep. Cody Maynard, next stop Senate! pic.twitter.com/IYrWCZFlcf
— Oklahoma Bitcoin Association (@oklahomabtc) March 24, 2025
Texas is also revisiting its Bitcoin reserve proposal with a revised approach. Senate Bill 21 (SB 21), filed on February 12 by state Senator Charles Schwertner, refines an earlier proposal by broadening investment options beyond Bitcoin and granting financial experts more control over reserve management. This move signals Texas’ commitment to adapting its digital asset strategy for long-term financial sustainability.
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