On April 29, according to TheBlock, the Arizona Strategic Bitcoin Reserve Act successfully passed the final House vote, which will await the signing of Democratic Gov. Katie Hobbs. Arizona will become the first state in the United States to require public funds to invest in Bitcoin, which allows state Treasury Secretary and retirement system to invest up to 10% of available funds in digital assets (particularly Bitcoin). "The bill represents the emerging practices of state governments in integrating cryptocurrencies into public fiscal management, reflecting the growing mainstream recognition of digital assets," the bill summary reads.

The bill’s co-sponsors are Republicans: Senator Wendy Rogers and Rep. Jeff Weninger. Several states, including Iowa, Missouri and Texas, are currently considering whether to establish strategic Bitcoin reserves, and at the federal level, Trump signed an executive order in March to establish strategic Bitcoin reserves and digital asset inventory.