News 
April 18, 2025 
4 min. 
The crypto reserve bill is quickly gaining momentum in Arizona, and it could mark a historic shift in how states embrace digital assets. With just one vote standing between it and the governor’s desk, the Strategic Digital Assets Reserve Bill (SB 1373) is sparking conversations nationwide.
Notably, passed by the House Committee of the Whole on April 17, the bill lays the groundwork for a first-of-its-kind Digital Assets Strategic Reserve Fund. Specifically, this fund would be powered by cryptocurrencies seized in criminal cases. As a result, Arizona edges closer to approval, and many are asking: Could this set the stage for a new era of state-backed crypto reserves?
Arizona Treasurer May Soon Control 10% of State Crypto Fund Investments
At the same time, Arizona is advancing legislation that would allow the state treasurer to invest up to 10% of its crypto fund in digital assets each fiscal year. Additionally, the treasurer would be permitted to lend fund assets to generate returns, as long as it doesn’t increase financial risk.
However, the bill, SB 1373, has passed the House committee stage but faces uncertainty. Governor Katie Hobbs has threatened to veto all bills until lawmakers approve funding for disability services. To illustrate her stance, she has already vetoed 15 bills this week, including several passed by the House.
Meanwhile, SB 1373 is moving alongside SB 1025, the Arizona Strategic Bitcoin Reserve Act, which would allow the state treasury and retirement fund to invest up to 10% of available assets in Bitcoin. That bill passed the House Committee of the Whole on April 1 and awaits a final vote.
Broadly speaking, Arizona is joining a growing trend of crypto legislation at the state level. For example, Utah removed a Bitcoin reserve clause from a bill passed in March. In contrast, Texas and New Hampshire have made progress on similar proposals, with the Texas Senate approving a Bitcoin reserve bill on March 6.
Recently, Kentucky enacted House Bill 701, the “Bitcoin Rights” bill, protecting digital asset users. Furthermore, Missouri is reviewing its own Bitcoin reserve proposal through its Special Committee on Intergovernmental Affairs.
Public Companies Add Over 95K BTC as Bitcoin Holdings Surge in Q1 2025
In a related development, public companies significantly increased their Bitcoin exposure in Q1 2025, growing their collective holdings by 16.1%. This marks a strong signal of sustained institutional confidence despite ongoing market swings.
According to data from crypto investment firm Bitwise, by the end of Q1, these companies held around 688,000 BTC in total (an increase of 95,431 BTC over just three months).
Based on Bitcoin’s Q1 closing price of $82,445, the combined value of these corporate holdings hit $56.7 billion, reflecting a 2.2% uptick from the previous quarter.
Moreover, the number of publicly traded firms holding Bitcoin also expanded, climbing from 67 to 79. Notably, 12 companies entered the market for the first time during the quarter, further reinforcing the growing mainstream appeal of digital assets.
