Points of Focus

• Missouri advances HB 2080 to the House Commerce Committee, reviving push for a state Bitcoin Strategic Reserve Fund.
• Arizona’s SB1649 passed the Senate Finance Committee, creating a Digital Assets Reserve that includes Bitcoin, XRP, and DigiByte from seized assets.
• Multiple US states now pursue crypto treasury legislation at varying stages.

State-level crypto treasury legislation is gaining pace. Missouri advanced House Bill 2080 to its House Commerce Committee on February 19, marking the second attempt by Rep. Ben Keathley to establish a Bitcoin Strategic Reserve Fund within the state treasury. 

And another one: State of Missouri Lawmakers Advance House Bill No. 2080 to Create State-Run Bitcoin Strategic Reserve Fundhttps://t.co/oGhfyJq0dX pic.twitter.com/4nvKYc6hxr

— MartyParty (@martypartymusic) February 21, 2026

Recollect that a prior effort, HB 1217, received a hearing in March 2025 but died in committee before the session ended.

Details of the new Missouri bill

HB 2080 would authorize the Missouri State Treasurer to invest, buy, and hold Bitcoin using state funds, accept donations from eligible residents or government entities, and store holdings for a minimum of five years before any sale, transfer, or conversion.

The bill also bars foreign entity involvement and limits custody to the US-based qualified providers. A public hearing, committee vote, and potential revisions are still pending, with a proposed effective date of August 28, 2026, if enacted.

Meanwhile, Arizona is moving on a broader framework. Arizona’s Senate Finance Committee passed SB1649 in a 4–2 vote on February 16, advancing a Digital Assets Strategic Reserve Fund that names Bitcoin, XRP, and DigiByte as eligible assets.

JUST IN: Arizona’s strategic Bitcoin and crypto reserve fund bill passes the state senate finance committee.

— MartyParty (@martypartymusic) February 18, 2026

Crucially, the bill is structured around seized, confiscated, or surrendered assets rather than direct market purchases, a design that sidesteps taxpayer exposure and separates it from the General Fund.

The XRP inclusion

The XRP inclusion is notable. Arizona’s bill requires assets to meet a weighted “cryptocurrency fair value score” based on market cap, network activity, transaction volume, development ecosystem, and decentralization, meaning not every token qualifies by default. XRP must clear a 1% threshold relative to a “digital gold standard benchmark”. SB1649 now proceeds to the Senate Rules Committee, with full Senate approval, House passage, and a gubernatorial signature still required.

Both bills face meaningful procedural hurdles. Missouri’s prior failure in the same committee is a direct warning for HB 2080, and Arizona’s 4–2 vote, while a majority, signals partisan division. Asset manager VanEck has estimated that if enough states adopt Bitcoin reserves, total aggregate demand could exceed $23 billion, though that projection assumes legislative follow-through that has proved elusive so far.

Missouri and Arizona now join New Hampshire, Texas, South Dakota, Kansas, Utah, and Pennsylvania in an expanding cohort of states pushing crypto reserve legislation, each at different stages and with meaningfully different funding mechanisms, custody rules, and asset eligibility criteria.