XRP Could Soon Enter Arizona’s Treasury — Here’s What’s Happening

Arizona lawmakers are weighing a bill that would let the state keep digital assets in a reserve instead of selling them off, and XRP is one of the names on the list.

The proposal would place those assets under the state treasurer’s control, and it could also let the state earn extra returns through staking, airdrops, or limited lending if the move does not raise financial risk.

SB1649 creates a Digital Assets Strategic Reserve Fund made up of digital assets that are held by, confiscated by, or surrendered to Arizona.

The bill text also says the treasurer could deposit state-held digital assets through a secure custody solution or an approved exchange-traded product, then administer the fund directly.

It defines “digital asset” broadly enough to include Bitcoin, XRP, stablecoins, nonfungible tokens, Dash, Internet Computer, Ravencoin, Chia, eCash, Monero, and other digital-only assets that meet the bill’s fair-value test.

That fair-value test is built around adoption, annual transactions, annual transaction value, and development activity. In plain terms, the bill tries to sort assets by market use and technical strength before they can be treated as reserve holdings.

The wording is broad, but it is not an open-ended invitation to buy anything. It sets a screening standard first.

The measure has already cleared the House Rules Committee and is headed to a full House vote. Arizona legislative tracking shows the committee approved it 8-0 on March 30, after earlier Senate action sent it across the chamber. That means the bill is still alive, but it is not law yet.

The House step matters because it moves the proposal closer to the finish line. The bill would give the treasurer authority to manage the fund, and it would also allow digital assets reported as abandoned property to be delivered in native form to the state or its custodian.

If those assets sit unclaimed long enough, staking rewards and airdrops could be shifted into the reserve fund.

XRP has drawn extra attention because it is named directly in the bill, not implied through a broad crypto category. The same section that lists Bitcoin also lists XRP alongside several other assets that could qualify under the reserve framework.

Featured image from Meta, chart from TradingView