Arizona is leading the U.S. race to build a state-backed crypto reserve. On April 17, the Arizona House Committee of the Whole approved SB 1373 — a key bill that aims to create a Digital Assets Strategic Reserve Fund. Just one full floor vote stands between this bill and the governor’s desk.
If signed into law, SB 1373 would allow Arizona’s state treasurer to manage a reserve made from seized digital assets. The treasurer could invest up to 10% of the fund each year in digital assets and even loan out those assets to generate higher returns, as long as it doesn’t raise financial risk.
But there’s a catch. Governor Katie Hobbs may veto the bill. She recently promised to block all legislation until lawmakers approve disability funding. Hobbs has already vetoed 15 bills this week alone.
SB 1373 isn’t Arizona’s only move toward crypto. A separate bill, SB 1025 — the Arizona Strategic Bitcoin Reserve Act — also passed the House Committee of the Whole earlier this month. It focuses solely on Bitcoin and would let the state treasury and retirement system invest up to 10% of available funds in BTC.
With other states like Utah, Texas, and New Hampshire exploring similar plans, Arizona appears to be taking the lead. While Utah backed out of a key Bitcoin reserve clause, and others are still debating, Arizona is just one vote away from making history.
Will it be the first state to launch a true crypto reserve? All eyes are on the final vote.
